Have you recently set up a new company with your business partner(s)? If so you may wish to consider taking out a shareholders agreement.
A shareholder agreement is similar to a partnership agreement but regulates the rights and obligations of shareholders in a company as between themselves and the company.
It will generally set out details as to the duties of the individual shareholders for example who deals with day to day management, employees, marketing etc. It will also set out what should happen in the event of one of the shareholders wishing to dispose of their shares for example providing a right of first refusal to the other shareholders and setting out how the shares should be valued.
If you would like to know more about shareholders agreements please don't hesitate to contact Sean White who will guide you through the process.