{"id":8909,"date":"2026-03-20T14:52:42","date_gmt":"2026-03-20T14:52:42","guid":{"rendered":"https:\/\/rfblegal.co.uk\/?post_type=insight&p=8909"},"modified":"2026-04-07T11:30:11","modified_gmt":"2026-04-07T11:30:11","slug":"acuerdos-de-accionistas-por-que-toda-empresa-necesita-uno-y-que-debe-contener","status":"publish","type":"insight","link":"https:\/\/rfblegal.co.uk\/es\/perspectivas\/acuerdos-de-accionistas-por-que-toda-empresa-necesita-uno-y-que-debe-contener\/","title":{"rendered":"Acuerdos de accionistas: por qu\u00e9 toda empresa necesita uno y qu\u00e9 debe contener\u00a0\u00a0"},"content":{"rendered":"

A shareholders’ agreement<\/a> is one of the most important legal documents<\/a> a company can have. Yet it is one of the most frequently overlooked \u2014 particularly by start-ups and early-stage businesses, where founders often feel that a formal legal agreement is unnecessary between people<\/a> who know and trust<\/a> each other. <\/p>\n\n\n\n

That view, however understandable, is mistaken when considering the implications of a comprehensive agreement. A shareholders’ agreement does not reflect a lack of trust between co-founders or co-investors. On the contrary, it is an act of professionalism and foresight: a document that protects all parties, aligns their expectations, and provides a clear and agreed framework for the most important decisions<\/a> a company will<\/a> face \u2014 including what happens if things go wrong. <\/p>\n\n\n\n

Without a shareholders’ agreement, the rights and obligations of shareholders<\/a> are governed solely by the company’s Articles of Association and by the Companies Act 2006. While the Act provides a basic legal framework, its default<\/a> rules were not designed with the specific circumstances of your company or your shareholder relationships in mind. They are generic, inflexible, and frequently inadequate for the needs of a closely-held business. <\/p>\n\n\n\n

This guide explains what a shareholders’ agreement is, why it matters, what it should contain, and how Ronald Fletcher<\/a> Baker LLP can help you put the right<\/a> protections<\/a> in place. <\/p>\n\n\n\n

1. \u00bfQu\u00e9 es un acuerdo de accionistas?<\/strong> <\/h2>\n\n\n\n

A shareholders’ agreement is a private<\/a> contract between some or all of the shareholders of a company, usually also signed by the company itself. Unlike the Articles of Association \u2014 which are a public document filed at Companies House and which bind all shareholders as a asunto<\/a> de company law<\/a> \u2014 a shareholders’ agreement is confidential. Its terms are not available to the public, to competitors, or to third parties. <\/p>\n\n\n\n

The agreement supplements and (within limits) overrides the Articles of Association by setting out the specific rights, obligations and protections that the shareholders have agreed amongst themselves. It deals with matters that either are not covered by the Articles at all, or where the statutory<\/a> default position is unsuitable for the particular company and its shareholders\u2019 rights and regulations. <\/p>\n\n\n\n

A well-drafted shareholders’ agreement is tailored to the circumstances of the individual<\/a> company. It reflects the nature of the business<\/a>, el number<\/a> and type of shareholders, the structure of ownership, any investment arrangements, and the commercial objectives of the parties. No two shareholders’ agreements<\/a> are identical \u2014 and any agreement that appears to be a ‘standard template’ should be treated with caution. <\/p>\n\n\n\n

Un acuerdo de accionistas frente a los estatutos<\/strong> <\/h3>\n\n\n\n
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  1. Los estatutos son un documento p\u00fablico, registrado en el Registro Mercantil y accesible a todo el mundo. <\/li>\n<\/ol>\n\n\n\n
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    1. Un acuerdo de accionistas es privado y confidencial: sus t\u00e9rminos s\u00f3lo los conocen las partes. <\/li>\n<\/ol>\n\n\n\n
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      1. Los estatutos vinculan a todos los accionistas en virtud del derecho de sociedades; un acuerdo de accionistas s\u00f3lo vincula a quienes lo firman <\/li>\n<\/ol>\n\n\n\n
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        1. Los estatutos pueden modificarse por votaci\u00f3n de los accionistas (resoluci\u00f3n especial); un acuerdo de accionistas suele requerir el consentimiento un\u00e1nime para modificar cl\u00e1usulas clave. <\/li>\n<\/ol>\n\n\n\n
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          1. Both documents should be drafted in conjunction with one another<\/a> to avoid inconsistency <\/li>\n<\/ol>\n\n\n\n

            2. \u00bfPor qu\u00e9 lo necesita su empresa?<\/strong> <\/h2>\n\n\n\n

            The short answer is: because disputes happen \u2014 even between people who start out with the best of intentions \u2014 and because the issues a shareholders’ agreement addresses will arise for every<\/a> company at some point, whether that is a shareholder wanting to leave, a founder losing their commitment to the business, an investor<\/a> seeking an exit, or a deadlock between equal shareholders over a critical decision. <\/p>\n\n\n\n

            Consideremos las siguientes situaciones, todas ellas habituales en la pr\u00e1ctica: <\/p>\n\n\n\n

            Situaciones comunes en las que la ausencia de un acuerdo de accionistas causa graves problemas:<\/strong> <\/h3>\n\n\n\n