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A shareholders agreement is a contract among a company's shareholders that outlines their relationship and operational guidelines for the business, typically aligning with the company's articles of association. It is essential when there are multiple shareholders to ensure clarity and prevent disputes. Without such an agreement, enforcing actions like share transfers in cases of dishonesty can be challenging. It is advisable to consider a shareholders agreement at any stage of the company’s development, particularly when a third party is involved, as this can highlight the need for formal agreements to protect shareholders' interests and minimize future legal conflicts.