If you are running a limited company (or intending to establish one) you should consider drawing up a shareholders agreement.
A shareholders agreement can be a brief or a comprehensive document. It can incorporate a number of different issues such as, voting rights, pre-emption rights on share transfers, holiday entitlements for those actively involved in running the business, or specific areas of responsibility for individuals.
The advantage of having such an agreement is that it pre-empts what might otherwise become contentious issues due to different understandings of what was originally "agreed" but not put down in writing.
If you are running a limited company (or intending to establish one) you should consider drawing up a shareholders agreement.