Startup
Shareholders Agreement
Ohio
How to track shareholders agreements?
I am a business owner and I have recently incorporated my business. As part of the incorporation process, I have created a shareholders agreement with my co-founders. I am looking to ensure that this agreement is properly tracked, documented, and monitored over time. I am seeking guidance on the best methods to track shareholders agreements and any advice on how to ensure the agreement is being followed.
Answers from 1 Lawyer
Answer
Startup
Ohio
Paul S.
ContractsCounsel verified
There are cap table management companies such as Carta and Pulley, that can help with this (for a fee). As long as your company has only issued common stock, maintaining a cap table and stock ledger in Excel is more than adequate. I also recommend storing PDFs of the stock purchase agreements in a cloud-based folder labeled "Stock Purchase Agreements." In terms of officer roles, the corporation's Secretary is responsible for maintaining these shareholder records.
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