The biggest difference is that an SPA is the sale of all shares, and an APA is the sale of selected assets. Therefore, they are both different transactions and have different procedures.
Controlling power through a shareholders' agreement. By far a better way to regulate the power between shareholders, and particularly to set out the limits of freedom of director-shareholders, is to use a shareholders' agreement. We very strongly advise every shareholder in every company to use one of these agreements.
A shareholders' agreement also covers details about dividend payments and the distribution of earnings. Regarding the business operation, it contains provisions about the frequency of board meetings and the appointment or resignation of directors.