In the shareholders` pact, you can protect both minority shareholders and majority shareholders. Briffa is an expert in all aspects of commercial law and practice and can help you develop and revise shareholder agreements to protect your business and your interests. A shareholder`s agreement can help resolve all issues and define a dispute resolution process. Based on our experience working with several Finnish startups, we found that founders often develop the start-up`s activities a few years before the start-up itself was created – during this period, founders often developed certain PIs that should be owned by the start-up if it was created correctly. In this context, the SHA must always make it clear that the associated IP, developed or generated before the signing of the SHA, must also be part of the start-up. The yellow brick path of successful startups is most often paved with a well-written shareholder pact (SHA). A SHA can be classified as the startup`s constitution at the same time as the startup`s statutes. In the previous Nordic Law article, we outlined three key themes that should be considered when the founders of a startup develop a shareholder pact (SHA). A shareholder pact is extremely useful if you have shareholders who want to leave the company. The other situation is that the majority shareholder may result in the minority shareholder, so that the majority shareholders are not arrested in a situation where the minority shareholder was not willing to sell his shares. The shareholders` pact allows you to limit shareholder departures, such as limiting their ability to create a competing company, such as.B. This mechanism is extremely useful in protecting the company`s interest for the future. There are many situations in which shareholders wish to vary the rights attached to each share in the company`s by-law, and this is usually where a shareholder contract is used.
The aim of the document is to protect shareholders, regulate the relationship and internal life and give the company a clear and strong foundation for the future. Shareholder agreements also provide flexibility in ensuring that shareholders have different class of shares and, therefore, different dividend policies. As a general rule, both creators and potential workers (i.key employees) are subject to a non-compete clause. However, with regard to working shareholders, i.e. in particular large workers who have minority stakes in a Finnish start-up, there are certain restrictions on non-competition, since the Finnish employment contract law must also be taken into account. This legislation provides that workers generally cannot be subject to non-competition clauses that remain in force more than six months after the termination of their employment contract. One example is Coder Tom, who is also a minority shareholder in the start-up in which he works (i.e. a normal situation for many Finnish startups).