In strict legal theory, the relationship between shareholders and those between shareholders and the company is governed by the company`s constitutional documents. [Citation required] However, if there is a relatively small number of shareholders, as in a startup, it is customary for shareholders to complete the constitutional document. There are a number of reasons why shareholders wish to supplement (or replace) the company`s constitutional documents in this way: however, this flexibility can lead to conflicts between a shareholder`s contract and a company`s constitutional documents. Although laws vary from country to country, most conflicts are usually resolved as follows: in most countries, registration of a shareholders` agreement is not necessary to be effective. In fact, it is the greater flexibility of contract law compared to corporate law that offers much of the raison d`être of shareholder agreements. There are also certain risks that may be associated with the establishment of a shareholders` agreement in certain countries. In addition, shareholder agreements often provide: a shareholders` agreement (sometimes called a shareholders` agreement in the United States) (SHA) is an agreement between the shareholders or members of a company. In practice, it is analogous to a partnership contract. It can be said that some jurisdictions do not correctly define the concept of shareholders` agreement, but the particular consequences of these agreements have been defined so far. Shareholder consent has advantages; To be precise, it helps the business unit to preserve the absence of advertising and to preserve confidentiality.