NBLO’s Model Shareholders’ Agreement now available9 December 2021
Venture Capital, Startups, Corporate Clients, Private Equity, Private companies
NBLO is proud to announce that its team, in collaboration with the Bulgarian Private Equity and Venture Capital Association (BVCA), has created a model Shareholders’ Agreement (SHA) designed to help early-stage companies by providing a user-friendly legal framework to navigate the relationship between founders and investors in early-stage Bulgarian companies. You can now find the model SHA on BVCA’s website, here.
The Shareholders’ Agreement is a multi-party contract dealing with a range of possible issues among some or all of the shareholders of a company.
While English and various US states’ laws are most widely used for such documents globally, the SHA is governed by Bulgarian law as it targets Bulgarian businesses.
It is likely that the Shareholders’ Agreement will be of use to high-growth businesses focused on technology and it may be helpful to many other situations. While not mandatory, an SHA is a good addition to a company’s statutes, in several ways:
- It allows the founders to make detailed arrangements privately.
- It signals the maturity of the founding team to investors.
We at NBLO regularly advise startups throughout their journeys, in particular on corporate law issues in the context of technology. Please do not hesitate to contact us if you have any questions relating to your company’s future.