What is a partnership / shareholder agreement? Why do I need one?

If you are running a business with others, partnership/shareholder agreements will save you a lot of headaches and tend to deal with: exit scenarios, who is obliged to do what (particularly if you are taking different roles) and what happens when a partner does not contribute, becomes ill, passes way.

From experience, dealing with these matters after the fact is very difficult and best avoided by engaging a lawyer to draft a shareholder/partnership agreement.