A shareholders’ agreement is not mandatory, but it is almost necessary to set it up in the case of a family business. Indeed, the agreement can stipulate that an outgoing partner must sell his shares to another family member as a priority. The shareholders’ agreement is also essential when the manager wishes to gradually transfer the company to his heirs. It allows to control the steps of this transfer.
The shareholders’ agreement also offers visibility to the company director: he does not have to fear that the decisions of the other shareholders will compromise his development projects, and he can concentrate on his management. Moreover, this agreement provides for the greatest number of possible situations, allows to calm down the relations between shareholders and to avoid potential conflicts.