What is a Business Will
A Business WILL, also known as a stockholders' agreement, is a legal document that outlines the rights and obligations of shareholders in a company. It is a private agreement between the shareholders, and it can be used to supplement the company's articles of incorporation or bylaws
The purpose of a shareholder agreement is to establish the rules and guidelines for how the company will be run, and how the shareholders will work together. It can include provisions regarding the transfer of shares, the appointment of directors and officers, the payment of dividends, and the resolution of disputes between shareholders
Shareholder agreements can be particularly useful for closely-held companies or family-owned businesses, where the relationships between shareholders are more personal and there may be a greater need for flexibility and customization. By outlining the expectations and responsibilities of each shareholder, a shareholder agreement can help to avoid misunderstandings and conflicts, and can provide a framework for the long-term success of the company
