Reading time: about 6 minutes Most owners think about succession the way they think about insurance: important, obviously, but something to sort out next year. Then a health scare, a bank refinancing, an unexpected buyer, or simply a child who wants a clear answer forces the question overnight. Decisions made under that kind of pressure […]
Raising the first serious round of external capital is a milestone. It is also the moment a private company stops being run purely on trust between founders and starts being run on a written constitution. That constitution is the shareholders’ agreement. Most founders spend months negotiating valuation and only days negotiating the agreement that will […]