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If a business has multiple owners, should there be some type of a written agreement amongst the owners?

Although not required by law, a written shareholders' agreement is a good idea for a corporation, setting forth an understanding of how the business will be operated and addressing how a shareholder's interest will be transferred in the event of death, disability, divorce or if the shareholders just decide they want to part ways. Similarly, a limited liability company is well-served by having a written operating agreement covering the same topics.

Business  

This information applies to All Counties in North Carolina.

Source: http://www.johnecargill.com/business-law-faqs/

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