Shareholders urged to get independent legal advice
Shareholders of privately held corporations who don’t seek independent legal advice during the drafting of agreements are failing to protect their interests, Toronto business lawyer Anton Katz tells AdvocateDaily.com.
“My sense is that shareholders often feel that they don’t need independent legal advice, so they dispense with it. But they do so at their peril, in my view,” says Katz, principal of Anton M. Katz Barrister & Solicitor.
“I would be so bold as to say it’s always a good idea to get independent legal advice.”
Shareholder agreements deal with voluntary and involuntary events, rights and obligations, and restrictive covenants, such as confidentiality, non-competition and non-solicitation clauses, he says.
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