Category

Capital et titres clauses in a shareholders' agreement

A startup's capital is the first thing you structure in a shareholders' agreement: who owns what, in which class of shares, and how the equity is split. This category covers the clauses that define your capital structure and instruments: initial split between cofounders, share classes (common for founders, preferred for investors), employee option pools (BSPCE in France, ESOP in Quebec and Canada), multiple-voting shares, and subscription commitments. Getting these foundations right from day one avoids painful corrections later: an undersized pool, the wrong share class, or a tax-inefficient instrument are all expensive to fix once investors are in. Atlas shows you the market standards in France and Quebec, and what is negotiable at each stage.

8 clauses in this category

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