Draft a first-pass shareholders agreement from a term sheet
Source basis. Area-specific AU source in links
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Generate clauses from the precedent and term sheet.
- What the lawyer must review
- Lawyer settles every clause.
- Written for / version
- Written for AustraliaUS
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | Do not begin AI assistance until the responsible lawyer has defined and confirmed its permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Review operative clauses in the complete document, including definitions, cross-references, schedules and inconsistencies with the instructions.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.
Forms and precedents for this task
| Form or precedent | Kind | AI use | Summary |
|---|---|---|---|
| Shareholders’ agreement key terms checklist and term sheet (proprietary company) | Checklist | AI use Yellow | Checklist and term sheet for a shareholders’ agreement in an Australian proprietary company: parties and shareholdings, board and reserved matters, funding, transfers and pre-emption, drag and tag, deadlock, leavers, restraints, disputes, and how it fits with the constitution. |
Signed-in accounts can read the full text of each one. All precedents.