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Steve Parra, a Vancouver business lawyer, discusses the significance of shareholders agreements in business. These agreements, often lengthy and complex (ranging from 15 to 60 pages), can be daunting for clients to comprehend and tend to be deprioritized, despite their importance. Parra compares them to dental visits—beneficial yet unappealing. He emphasizes that, although not glamorous, shareholders agreements are crucial for the long-term success of a business. He plans to illustrate their importance with a scenario involving a friend who started a property management company a couple of years ago.
