While the company`s articles of association and company law are useful to some extent, a fully thought-out and well-drafted shareholders` agreement can serve as protection and provide shareholders with greater protection against such scenarios. If you suspect that one or more shareholders deny having seen or signed the contract, the signature of a witness or the seal of the notary will help prove the validity of the document in court. A shareholders` agreement is a contract between the owners of a corporation that defines their roles, rights and obligations as shareholders of the corporation. A shareholders` agreement establishes the appointment of managing shareholders, establishes rules for the appointment and termination of officers and sets requirements for meetings of the board of directors and shareholders, obligations of shareholders, rights and rights to information and dividends. .