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Steve Parra, a Vancouver business lawyer, discusses the significance of shareholder agreements. These agreements, often lengthy and complex (ranging from 15 to 60 pages), can be daunting for clients who may procrastinate signing them, similar to delaying a visit to the dentist. Despite their unappealing nature, they are crucial for long-term business success. Parra emphasizes the importance of understanding these agreements and mentions that he will illustrate their significance through a scenario involving a friend who started a property management company.