In this paper, we study the use of options in Shareholder Agreements in privately held companies. We focus exclusively on the use, in this type of agreements, of exit strategies and the general restrictions to transfer and to cede shares. We find that the legal framework of the agreements generates different kind of options. These options can be either explicit - for instance, call options and put options - or implicit - for example, drag-along rights -, and we try to recognize in them the basic elements of the financial options.
Keywords:
Options, Shareholders agreements, Privately held companies
González Araya, M., & Tomasello W., L. (2004). The use of options in the shareholders’ agreements of public limited companies. Estudios De Administración, 11(2), 66–111. https://doi.org/10.5354/0719-0816.2004.56801
