Practice Areas
Blog 
Business Transactions
- Buying a Gas Station or Car Wash you Need Landlord Consent - No Matter What the Lease Says
- $22 Million New York City Entrepreneur Fund Created for Starting Businesses in New York City
- Small Business Commercial Lease Agreements in New York: Limiting your Personal Guaranty may Not be Enough
- S Corp, C Corp, LLC?
- Be Aware of Forum Selection Clauses in Vendor Agreements
Library
Business Transactions
- The Advantages of an Asset Purchase Compared to a Stock Purchase
- Factors to Consider when Buying a Gas Station
- The Importance of a "Financing Contingency" when Buying a Business
- The Importance of a "Non-Compete" when Buying a Business
- The Importance of "Sales Tax Notifications" when Buying a Business in New York
Q: What is a "Shareholder Agreement".
A: Shareholder agreements are the governing agreements between shareholders of a corporation. In New York and New Jersey when small closely held companies are typically established as a corporation. For the small closely held company the shareholder agreement is sometimes thought of and referred to by its shareholders as a "partnership agreement". The shareholder agreement identifies and sets out the management of the business and addresses rights and responsibilities, including:
- The voting rights of each shareholder;
- The percentage of shareholder vote required for significant business decisions such as the procurement of loans, investing in new equipment, purchasing real property and hiring and firing employees;
- The officers and directors of the company;
- Restrictive covenants between the shareholders respecting the sale of their stock shares and their ability to compete with the company or with one another;
- The rights of each shareholder upon the liquidation or sale of the company;
- Required capital contributions;
- The rights of each shareholder upon the death or disability of another shareholder.
Charles N. Internicola, is a business attorney, author and speaker who represents individuals, entrepreneurs and established business owners in New York and New Jersey business transactions. Charles is the author of "An Entrepreneurs Guide to Purchasing a Business" and he is the publisher of the "New York Franchise Law Blog". If you are buying or selling a business in New York or New Jersey, purchasing a franchise or involved in a license or lease transaction Contact Charles Internicola to discuss the dedicated and precise legal representation that he provides to his clients and the steps that he will take to protect your business interests.
IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you and Charles N. Internicola, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. The content of this website is subject to the Copyright of its author, Charles N. Internicola, Esq.
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