Businesses / companies often approach this Solicitors practice - seeking to discuss share option schemes (and in particular EMIs).
If this includes you - Do please ask us for 'appropriate' reading materials for your purposes - Such as the annexed (extract).
EMI Share Option Schemes are a very powerful workforce incentivisation tool - but they do have to be implemented (and run), both with careful thought and skilfully prepared documentation.
There are a huge number of (largely) unqualified, inexperienced and inexpert laymen selling such schemes to relatively early stage / fast growing businesses (who seek to be 'low cost' in the way that such arrangements are introduced).
Be warned that 'low cost' and 'cost-effective' are not the same things = I (and many of my contemporaries) - see huge problems at a later stage in a business' / company's development (i.e upon exercise of the relevant options - whether on sale or otherwise) - costing tens of thousands of pounds in professional fees to correct (if they can be corrected at all) - at which point the 'cowboys' who were historically involved - have long spent their fee for setting up the deficient scheme (and only at that long subsequent point of discovering the deficiencies - does the relevant business / company realise they have no redress = they only then understand that they historically dealt with an unauthorised, unregulated, and in reality - uninsured business who cannot and will not help put right their mistakes).
The maxim (accordingly) is do / always 'Use A Solicitor' - But don't underestimate the upfront (and ongoing) external costs and management time and effort in establishing and running an EMI scheme (properly)!
I look forward to hopefully 'talking' soon.
With best regards
Dan Johnson - Principal & Business Law Solicitor
www.EquitableLaw.com - Solicitors
+44 (0) 7788 537 187 : U.K. Cell. / e-Tel.
+44 (0) 20 8780 3319 : London Landline
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