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Business Prenup

Business Prenup Template for New Zealand

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Key Requirements PROMPT example:

Business Prenup

"I need a Business Prenup for my tech startup launching in March 2025, with three equal shareholders who will all be working in the business, including specific provisions for intellectual property protection and a detailed exit mechanism if any founder wants to leave."

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Document background
The Business Prenup, also known as a shareholders' agreement, is a crucial document for New Zealand businesses with multiple shareholders or partners. It serves as a preventive legal framework that addresses potential future scenarios and conflicts before they arise. This document becomes particularly important when establishing new business partnerships, bringing in new investors, or restructuring existing business relationships. The agreement typically includes provisions for share transfers, decision-making processes, dispute resolution mechanisms, and exit strategies, all structured in compliance with New Zealand's legal framework, particularly the Companies Act 1993 and Contract and Commercial Law Act 2017. The Business Prenup is essential for protecting both majority and minority shareholders' interests while ensuring business operations remain smooth and uninterrupted.
Suggested Sections

1. Parties: Identifies all parties to the agreement, including full legal names and addresses

2. Background: Sets out the context of the agreement, including business description and purpose

3. Definitions and Interpretation: Defines key terms used throughout the agreement and interpretation rules

4. Business Operations: Core principles of how the business will be operated and managed

5. Decision Making: Process for making business decisions, including voting rights and thresholds

6. Financial Matters: Financial obligations, profit distribution, and capital contributions

7. Share Ownership: Rules regarding share ownership, transfers, and restrictions

8. Management Structure: Roles and responsibilities of shareholders in management

9. Exit Provisions: Procedures for shareholder exit, including valuation methods

10. Dispute Resolution: Process for resolving disputes between parties

11. Confidentiality: Protection of business information and trade secrets

12. Term and Termination: Duration of agreement and circumstances for termination

13. General Provisions: Standard legal clauses including notices, amendments, and governing law

Optional Sections

1. Intellectual Property: Required when the business owns or develops significant IP assets

2. Non-Compete Provisions: Include when protecting against competition from departing shareholders

3. Tag-Along Rights: Include for minority shareholder protection in sale scenarios

4. Drag-Along Rights: Include to force minority shareholders to join in sale of company

5. Dead-Lock Resolution: Important for 50/50 ownership structures

6. Family Law Protection: Include when shareholders have relationship property concerns

7. Insurance Requirements: Include when specific insurance coverage is crucial

8. Employee Shareholders: Required when employees hold shares in the business

Suggested Schedules

1. Share Register: Current shareholding details including share classes and numbers

2. Business Plan: Initial business plan and strategic objectives

3. Valuation Methodology: Detailed method for calculating business value in exit scenarios

4. Reserved Matters: List of decisions requiring special majority or unanimous approval

5. Key Performance Indicators: Metrics for measuring business and management performance

6. Deed of Accession: Template for new shareholders joining the agreement

7. Company Constitution: Copy of or reference to the company constitution

8. Initial Budget: First year's budget and financial projections

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions













































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Relevant Industries

Technology

Professional Services

Manufacturing

Retail

Healthcare

Construction

Hospitality

Agriculture

Financial Services

Real Estate

Media and Entertainment

Education

Consulting

E-commerce

Relevant Teams

Legal

Executive Leadership

Board of Directors

Corporate Governance

Finance

Business Development

Corporate Affairs

Risk Management

Compliance

Investment

Relevant Roles

CEO

Managing Director

Business Owner

Company Director

Chief Financial Officer

Corporate Lawyer

Business Development Manager

Company Secretary

Board Member

Shareholder

Partner

Investment Manager

Startup Founder

General Counsel

Chief Operating Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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