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7 | O akville B eaver | T hursday,A ugust 26,2021 insidehalton.com From A Legal Point ofView A shareholders' agreement is an agreement between the shareholders of a company. The agreement outlines the shareholders' rights, privileges and obligations along with how the shareholders of a corporation relate to one another. Here are important reasons to always have a shareholders' agreement: • Financing: A business will require access to capital. A shareholders' agreement can set out how the corporation will access funds and contribute funds. • Exit Strategies: A shareholders' agreements provide for different exit strategies in the event that the shareholders can no longer be in business together. Exit strategies are the corporate law equivalent of a marriage contract. At the incorporation stage, prudent shareholders will consider what will happen in the event that such shareholders no longer get along. • Voting Rights: A shareholders' agreement can outline how the shareholders will vote with their shares. This could involve electing, as a director, a nominee of a shareholder. • Issuing or Transferring Shares: These provisions provide certain share sale rights to existing shareholders who want to market their shares. The shareholders' agreementmay also deal with conditions under which a corporation may issue shares from treasury, or how the shareholders may transfer shares amongst themselves, or to third parties. Corporations that have more than one shareholder should consider having a shareholders' agreement to set out the expectations of each of the shareholders from the beginning. Having these discussions early can save time, money and effort later on. Contact us to discuss your shareholders' agreement The ImporTance of Shareholder agreemenTS − ADVERTORIAL − Rebecca Jeffery Business Lawyer rjeffery@rossmcbride.com905.526.9800 www.rossmcbride.com Virtual Meetings Over The Phone Here to Help A GUIDE TO EATING LOCAL PATIOS , MENUS, TAKEOUT, DELIVERY, BREWERIES & SPECIALTY GROCERY SCAN THESE CODES WITH YOUR PHONE TO DISCOVER GREAT DINING AND FOOD DESTINATIONS Let's Eat For $50/Week participate in this Foodie Feature linking your business or menu to these QR codes! 4 Week Special! Limited Space - Book Today! For a Small Fee/Week participate in this Foodie Feature linking your business or menu to these QR codes! Please contact Nancy Gibson for information on placing your QR Code ad. Cell: 289-681-2041 • ngibson@starmetrolandmedia.com Limited Space - Book Today! A GUIDE TO EATING LOCAL PATIOS , MENUS, TAKEOUT, DELIVERY, BREWERIES & SPECIALTY GROCERY SCAN THESE CODES WITH YOUR PHONE TO DISCOVER GREAT DINING AND FOOD DESTINATIONS Let's Eat NOW HIRING! On Sept. 20, Canadians will be heading to the polls to elect our 44th Parliament. The pandemic is not over, but we must now look beyond COVID and plan for our future. The choices in this election are critical. Our decision will not only determine how quickly we can resume more normal lives, but also whether fu- ture generations will enjoy more opportunities. Reaching this point in the fight against COVID came at an enormous cost in lives, in time with our families and friends and in the thousands of businesses that have closed permanently. But the fact that we can now plan for the future is al- so the result of Canadians' willingness to do what was needed, from wearing pro- tective equipment and phys- ically distancing to getting vaccinated at record levels. Canada's business com- munity also did its part. Factories and workshops retooled to provide critical- ly-needed equipment and supplies, restaurants and retail stores reinvented business models to serve their customers in new ways, we introduced new processes and equipment to protect staff and customers, and we collaborated with government and public health authorities to pro- mote vaccinations. Having joined forces to overcome the deadly threat of COVID, we all must now work together to repair the damage it has inflicted on our economy. The pandemic saddled governments and business- es with a debt burden that would have been unimagin- able just two years ago. The government projects that Canada's national debt will rise to $1.4 trillion over the next five years. In addition, while eco- nomic activity has still not re- covered in many sectors, countless Canadian compa- nies -- particularly our small businesses -- have acquired adebt load that still threatens their very survival. They will require contin- ued assistance to recover. Canada's next Parlia- ment must also fix long- standing fundamental problems that hold us back. We cannot borrow our way to prosperity. Nor should we confuse government spending with actual eco- nomic growth. Above all, we must not try to go back to where we were before COVID, when Canada lagged behind its competitors in investment and growth. Compared with other leading economies, Canada's pre-COVID eco- nomic performance was weak and getting weaker. To succeed in the face of fierce international compe- tition, Canada must gener- ate sustained business in- vestment, jobs and growth -- not just in the short term, but for many years. Canadians must collec- tively decide which party of- fers a plan that has what it takes to finish the fight against COVID, get the fun- damentals right and create opportunities for the 21st century. Faye Lyons is the vice- president of government relations and advocacy for the Oakville Chamber of Commerce. She can be reached at faye@oakvil- lechamber.com. OPINION WHAT IT TAKES TO GROW CANADIAN CHAMBER OF COMMERCE LAYS OUT PRIORITIES FOR ELECTION, WRITES FAYE LYONS FAYE LYONS Column This is an open letter to all Halton elected officials. Halton Advocacy For Climate Emergency Now (HACEN) very much hopes that you have taken to heart the disturbing infor- mation and dire warnings expressed in the most re- cent report of the United Nations Intergovernmen- tal Panel on Climate Change. We hope the panel's findings will convince you of the following: • We are not just con- fronted with climate change, but a climate emer- gency. • We must take urgent and courageous action to end the use of oil, gas and coal to energize our econo- my and rapidly transfer to an economy energized by sun, wind, water and geo- thermal. • The long-term sustain- ability and security of life and civilization on this planet is more important than the increase of imme- diate individual wealth. • The financing neces- sary to pay for these essen- tial changes must be the priority item for all govern- ment budgets. MERVYN RUSSELL HALTON ADVOCACY FOR CLIMATE EMERGENCY NOW IMMEDIATE ACTION NEEDED TO ADDRESS CLIMATE EMERGENCY SIGN UP FOR OUR WEEKLY NEWSLETTER AT INSIDEHALTON.COM