A shareholders’ agreement should be compared around the owners’ actual plans for control, funding and exit. A template price is not directly comparable with advice involving several owners and conflicting objectives.
Define the legal instruction
Commercial choices about control and exit should be identified before drafting. Check how the agreement fits company documents and whom the firm represents.
The decision that deserves the closest review
Provide ownership, director roles and existing company documents. Ask how decision rights, transfers, deadlock and new investment will be addressed. Clarify whose interests the solicitor represents and whether owners need independent advice.
Professional fees, scope and other expenses
Ask for written scope and a clear fee basis: fixed, hourly, staged or another agreed arrangement. Identify applicable taxes, third-party expenses and excluded specialist work. Clarify what happens if facts change or the instruction expands, and who must authorise additional work before it begins.
| Comparison item | Question to resolve |
|---|---|
| Ownership and control arrangements | Who is represented by the firm? |
| Funding and exit objectives | How do the agreement and articles interact? |
| Existing articles and representation conflicts | Are negotiation and future investment changes included? |
Compare the deliverable and excluded stages line by line. Keep a record of the agreed estimate, revision process and approval for any additional expenses.
A hypothetical example
Two founders agree ownership percentages but have different expectations about selling the business. They discuss exit and transfer provisions before treating a simple share split as a complete ownership agreement.
Prepare a brief the solicitor can price
Supply the complete documents, a short chronology where useful, the commercial objective and any urgent dates. Explain what outcome you need from the instruction. Clear organisation allows the adviser to distinguish initial scoping from a substantive review and later negotiation or dispute work.
Agree the owners’ commercial choices before drafting
Prepare an ownership schedule and explain decision rights, investment plans and possible exits. Identify existing articles and other company documents. The solicitor can price a clearer instruction when the owners distinguish matters already agreed from matters requiring advice or negotiation.
Compare drafting, review of connected documents and work for owners with different interests. Ask how disagreements or later changes affect the scope. Keep the proposed arrangement aligned with the company’s actual governance rather than judge the service by the length of a standard template.
This legal guide concerns England and Wales. Confirm the jurisdiction and scope for the actual instruction.
A mistake to avoid
Assuming agreement on percentages means agreement on every control or exit issue.
Agree how the instruction will be managed
Agree the contact person, expected updates and who can approve further work. Ask how the budget changes if the other side sends new documents, negotiations expand or proceedings become necessary. Keep advice, agreed terms and the executed documents organised so operational decisions use the final position rather than an earlier draft.
Questions before choosing
Does one adviser automatically represent all owners?
Ask about conflicts and independent advice; shared involvement does not itself establish shared representation.
Can one template resolve every disagreement between owners?
Define the particular decisions and exit concerns first. A template still requires review against the company, ownership arrangements and the interests of those involved.
Sources and further reading
Research date: 6 October 2026. Refer to the current linked guidance and written provider or adviser terms when making a decision.