Founders Agreement Service
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Overview Of a Founders Agreement
A founders agreement is a legal agreement created between the Co-founders of the company while setting up their business. The founders agreement clarify the roles, right & duties, responsibilities, liability, investment portion and the ownership of each founder.
- A founders agreement always should be made in written format, and not in oral.
- 2 or more 2 partners can jointly enter into a founders agreement which is known as co-partners or parties.
- All the co-founders have to enter into the founders agreement exactly at the time while incorporating the business or company.
The main objective of the founders agreement is to avoid business disputes between the co-founders. This founders agreement set out the strategy of the founders who should act within the ambit and should follow the mandatory provision laid on.
Founders agreement also helps in tackling uncertain occurrences like the death of the co-founders, and resignation, which directly affect the sustained growth and smooth running of the business or firm.
Why choose The Startup Gig For Founders Agreement
We help you define the Right Strategy & Ownership Structure
We assist you in drafting Founders Agreements, which are essentially created to safeguard each founder’s interests and serve as a record of everyone’s agreement on the fundamental structure of the venture as well as how the founders will cooperate to advance their business.
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Why it is Important to have a Founders Agreement
It helps in determining the business Entity
It helps in outlining plans for the business
It specifies the designation and the Roles & Responsibilities of a person
It maintains the structure of ownership
It helps in decision-making
Expulsion of co-founders
It maintains confidentiality
Documents required for the preparation of the Founders Agreement
The followings are the documents required while preparing a Founders agreement:
- Address and identity proof of all co-founders
- Identity proof of witnesses
- Certificate of company registration
- Number of equity shares held by co-founders
- All the company’s intellectual property documents
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