Draft The Statutes Of A Company With Several Partners

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Draft The Statutes Of A Company With Several Partners

When several partners carry out a business creation project, the use of a company becomes essential because it is the only type of professional structure that will allow several people to come together. To create a company, the partners will have to draw up statutes. This legal document, signed by all the partners, establishes the company’s characteristics and defines its organizational and operating rules. This file informs you about drafting a company’s statutes in the presence of several partners.

The Basis: Insert All Mandatory Information In The Statutes

You must establish statutes regardless of the legal form you choose for your future company. Indeed, this document will dictate the operating rules of your future business and determine its main characteristics. The statutes must be drawn up in writing and signed by all the partners of your future company. 

To begin this work, you must have chosen the legal form of your future company. In practice, it is often a SARL or SAS for professional activities and a civil company for investment and real estate activities. Then, depending on the legal form of your future company, you will have to insert a certain amount of mandatory information into your statutes. To help you at this level, you can consult these files:

  1. Mandatory clauses in the statutes of SARL
  2. Mandatory clauses in the SAS statutes
  3. Mandatory clauses in the SCI statutes

The Challenge: Correctly Manage Relationships Between Partners

One of the main difficulties that must be considered when drafting the statutes of a company with several partners corresponds to the management of relationships between the partners. Indeed, this question requires a tailor-made approach based on the partners’ expectations. Here are several examples of statutory clauses intended to govern relationships between the partners of a company:

  1. The approval clause subjects a partner’s sale of shares or shares to the agreement of the general meeting of partners.
  2. The pre-emption clause grants a priority right to purchase shares or shares to a partner.
  3. The joint exit clause allows all the partners or some of them to obtain the right to transfer their shares or shares if one of them sells their securities.
  4. The clause provides for the procedure to follow in the event of the death of one of the partners.
  5. The mediation clause dictates the rules to follow to resolve conflicts between partners.

Then, another critical subject will concern the relationships between partners who play an active role in the activity (those who occupy management positions in particular) and those who confine themselves to their role as partners. The statutes must define the rules that govern the relationships between all the company’s organs. They can also set up control bodies, such as a board of directors, if necessary.

Who Can Help You Draft Your Company Statutes?

Drafting the statutes of a company with several partners often requires recourse to a competent professional to obtain advice or even to delegate the work in its entirety. This will still require the involvement of the company’s partners, who will have to decide on the statutes’ content after listening to the professional’s advice. If you need help drafting your company statutes with several partners, you can choose between professionals: a lawyer, a notary, or a chartered accountant. 

You should choose a professional used to dealing with this type of question. A first meeting between him and all the partners of your future company is necessary to sort out the legal issues and obtain an overall view of your needs. Through this type of support, it is essentially the advice part that will be sought. You can also use an online business formation service if you already have legal knowledge and a clear idea of ​​the specific clauses you will need. Legal assistance is sometimes provided on these platforms.

Read Also: The Financial And Economic Analysis Of A Company

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