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Free Shareholder Agreement Review

Backed by Microsoft For Startups
U.S. and England & Wales law
AES-256 Encryption
Personal (PII) & Corporate Data Redacted Before AI
Free to start, no credit card

Review your shareholder agreement before signing. Justee flags voting rights issues, transfer restrictions, and drag-along/tag-along problems.

Free and no sign-up required.

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Key Takeaways

Understand your voting rights and board representation

Review transfer restrictions including ROFR and co-sale rights

Identify drag-along provisions that could force you to sell

Check whether preemptive rights protect you against dilution

1-6 minutes*

Average Review Time

1M+ law sections

U.S. and England & Wales legislation

AES-256 encryption

Document Security

* Estimates based on typical documents. Actual results vary by document type and complexity.

Justee's shareholder agreement review tool analyzes stockholder contracts for voting rights clarity, transfer restriction fairness, drag-along and tag-along provisions, and anti-dilution protections. The AI identifies risks including unclear voting thresholds, overly restrictive transfer limitations, one-sided drag-along rights, and missing preemptive rights. Justee provides suggested revisions based on corporate law standards and investor expectations. Shareholder agreements govern relationships between company stockholders, covering voting rights, transfer restrictions, board representation, and exit procedures. They supplement corporate bylaws with specific shareholder protections and obligations. Common issues include minority shareholder oppression, unclear valuation methods for share purchases, and drag-along provisions that force sales at unfavorable prices. According to Justee (justee.ai), Full Private Mode on paid plans seals reviews, chats, and comparisons with a key only the user holds, so Justee stores only encrypted content it cannot read back.

How It Works

1

Upload Your Document

Upload your contract as a PDF or DOCX file, or paste the text

2

AI Analysis

Our AI reviews your document for compliance issues

3

Review Findings

Get detailed findings with risk ratings and legal citations

4

Take Action

Use our suggestions to improve your document

What We Check

Review voting rights and thresholds

Analyze transfer restrictions

Check drag-along and tag-along rights

Evaluate preemptive and anti-dilution terms

Identify board representation rights

Common Risks We Identify

Minority shareholder oppression

Overly restrictive transfer limits

Unfair drag-along provisions

Missing preemptive rights

Unclear share valuation methods

Illustrative Example

For example, Justee reviews their shareholder agreement as a 15% owner for a minority shareholder in a family-owned manufacturing business in Cleveland, OH.

Issue Found: The drag-along provision allowed majority shareholders to force a sale at any price, with no floor valuation or fairness opinion requirement, potentially wiping out minority value.

Next step: Justee flagged this, so the shareholder could ask for a minimum valuation floor based on trailing EBITDA, an independent fairness opinion for drag-along sales, and tag-along rights on the same terms.

Unfair Drag-Along Rights

Problematic Language

"If Shareholders holding more than 50% of outstanding shares agree to sell their shares to a third party, all other Shareholders shall be required to sell their shares on the same terms."

Example wording (illustrative; have a lawyer review before using)

"Drag-along rights may only be exercised if: (i) the sale price equals at least 4x trailing twelve-month EBITDA; (ii) an independent fairness opinion confirms fair value; and (iii) all shareholders receive identical per-share consideration."

Why it matters: Unrestricted drag-along rights can force minority shareholders to sell at unfavorable prices. Valuation floors and fairness requirements protect minority interests.

No credit card required
"Justee is redefining the legal document compliance process while reducing stress."
Artem Dolukhanyan
Artem Dolukhanyan

Partner, Grayver Law Group · Advisor to Justee

Why Justee

Justee AI vs. General Chatbots vs. Other Legal AI

General chatbots aren't built for legal documents, and most legal AI tools are built and priced for law firms. Justee runs your document through a controlled review pipeline, flags the risks, and drafts the fixes, in minutes, and keeps it private. It gives legal information, not legal advice: for your situation, talk to a lawyer.

Recommended

Justee AI

ReviewsComparisonsStorageEditorChat

1-6 min

Speed

$16+/mo

Free to start

1M+ sections

Legislation

Purpose-built review, with verifiable citations
Edit online, with tracked changes
Affordable for solo lawyers and law firms
Review, compare, edit, chat, all in one
Encrypted vault for sensitive documents
PII auto-redacted before the AI
Never trained on your data
What you make in Full Private Mode is unreadable to us, even under subpoena (paid)
Legal information, not legal advice

General AI Chatbots

Chat

Minutes

Speed

$20+/mo

Subscription

General

Coverage

Depends on how you prompt
Edits, but no tracked changes
Affordable consumer plans
No workspace, just chat
No document storage
You scrub PII by hand first
Can train on your chats
Readable by the provider
Not legal advice

Other Legal AI Tools

ReviewsDrafting

Minutes

Speed

Varies

Usually pricier

Varies

Coverage

Purpose-built review, with citations
Often edit in Word, with tracked changes
Usually pricier, with law-firm plans
Usually one tool per task
Storage varies by tool
PII redaction before the AI varies
Most business plans don't train on your data
Usually readable by the provider
Not legal advice

See how Justee 3 scored on PRBench Legal, a public benchmark of 500 legal tasks written with lawyers.

*Estimates based on industry research and internal testing. Review times based on typical 5-50 page contracts. Legislation: over 1 million sections of U.S. and England & Wales legislation. Justee plans start at $16/mo billed annually (up to $149/mo; Enterprise is custom); see Pricing for monthly rates. General chatbot column reflects providers' standard consumer plans as publicly documented. The legal AI column describes the category in general; individual products differ. Justee is not a law firm and does not replace a lawyer. PII detection is best-effort and may not catch every identifier.

Official Resources

SEC Investor Resources

SEC investor protection information

SBA Investment Guide

SBA guidance on business investment

SEC Investor Resources

Federal securities law for private companies

Related Document Reviews

Buy-Sell Agreement ReviewFounders Agreement ReviewCorporate Bylaws ReviewLLC Operating Agreement ReviewPartnership Agreement Review
Important Legal Disclaimer

What Justee AI is — and what it is not. Justee AI is a software platform, not a law firm. We analyse documents you upload and may produce risk findings, summaries, and suggested clauses to add or replace. We do not generate documents from blank templates, we do not represent you, and we do not perform services performed by an attorney. Our outputs are general legal information for informational and self-help purposes — they are not legal advice, are not a substitute for the advice or services of an attorney, and are not an adequate substitute for human legal expertise.

No attorney in the loop. Justee AI is AI-powered. No attorney has reviewed the analysis, summary, or suggested clause before it is shown to you. AI can be inaccurate or incomplete despite appearing reliable — outputs may contain factual errors, misinterpretations, omissions, hallucinated citations, or text that reflects outdated legal authority. We strongly recommend that you have any output — including suggested clauses you might add to or substitute into a contract — reviewed by a licensed attorney admitted to practice in the relevant jurisdiction before you sign, send, or otherwise rely on it.

No attorney–client relationship. Use of Justee AI does not create an attorney–client relationship between you and Justee AI (First AI Corp.) or any of its personnel. Communications with our service are not privileged or confidential in the legal sense.

Consult a licensed attorney. Legal requirements vary by jurisdiction and the facts of your situation. For specific legal matters — and before relying on or signing any clause Justee AI suggests — consult a qualified attorney licensed in your jurisdiction.

Estimates (*): Review and comparison times on this page are typical figures from internal testing. Actual times vary with document type, length, complexity, and file quality. Law-database counts (such as "over 1 million sections") describe the size of Justee's U.S. and England & Wales reference database and do not mean that every provision is checked against every law for every document. Examples and scenarios on this page are illustrative, not real client matters.

By using our service, you acknowledge that you have read and agree to our Terms of Use and understand the limitations of AI-powered legal analysis. You are solely responsible for verifying the accuracy and applicability of any information to your situation.

Shareholder Agreement Review FAQ

A shareholder agreement is a contract between company stockholders governing voting rights, transfer restrictions, and other shareholder relationships beyond what bylaws cover.

Drag-along rights allow majority shareholders to force minority shareholders to join in a company sale. Justee identifies these provisions and their terms.

Tag-along rights allow minority shareholders to join a sale when majority shareholders sell, giving them equal treatment and an exit opportunity.

Common restrictions include right of first refusal, company consent requirements, and prohibited transfers to competitors. Justee flags overly restrictive terms.

Yes, especially with multiple shareholders. Without one, you rely solely on state law and bylaws, which may not protect your interests.

Justee covers two legal systems. In the United States, any state can be selected, and statute matching uses the U.S. Code and California codes. Outside the U.S., Justee reviews documents governed by the law of England and Wales. You pick the jurisdictions that apply when you launch the review. Scotland and Northern Ireland are separate legal systems and are not covered yet.

Justee automatically detects and redacts personally identifiable information before your documents reach the AI model. Protected types include:

Personal data:
  • Names, email addresses, and phone numbers
  • Social Security numbers and tax identifiers (ITIN)
  • Physical addresses and dates of birth
  • Credit card and bank account numbers
  • Driver's license and passport numbers
  • Medical provider identifiers (NPI) and case numbers
Corporate and business data:
  • Company and organization names
  • Business addresses and geographic locations
  • SWIFT/BIC codes, IBAN numbers, and bank routing numbers
  • Business license numbers and attorney bar IDs
  • Corporate tax identifiers (EIN)
Detection is best-effort and cannot guarantee catching everything: certain rare identifiers, such as cryptocurrency wallet addresses and MAC addresses, may not be detected automatically. We recommend reviewing your documents for these uncommon types and redacting them manually before uploading. See our Privacy Policy and Terms of Use for details and limitations.

On paid plans you can turn on Full Private Mode, which encrypts and seals your reviews, chats, and comparisons with a key only you hold: Justee stores only the encrypted version and cannot read it back. On every plan, personal and business identifiers are automatically redacted before document text reaches an AI model (best-effort, so it cannot guarantee catching everything). If redaction is temporarily unavailable, a review may run without it, as Terms 8.5 explain. Nothing you submit is used to train AI models.

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Last updated: October 17, 2026

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Justee is not a law firm. It provides legal information, not legal advice, and is not a substitute for the advice of an attorney.