FOUNDER’S AGREEMENT
What is Founder’s Agreement?
A Founders’ Agreement is an official contract that is signed between all the co-founders of a firm. This document states all the responsibilities, ownership, and initial investments made by each of the founders of the company. It is advised to make a founders’ agreement at the incorporation stage of an enterprise as it will lay out the responsibilities and roles of each of the co-founders.
Benefits:-
- It clear any doubts and makes the relationship healthy by defining the role of the different co-founders.
- It ensures elimination of loopholes that can be exploited since this agreement clarifies the roles and responsibilities of every member in the company.
FAQ
1. What is the purpose of Founders’ Agreement?
The purpose of the agreement is to make the understanding the co-founders have regarding the functioning of their company and relationship and obligation between co-founders legally binding through a formally written agreement.
2. What are the essential ingredients of Founder’s Agreement?
It provides for business definition, percentage or number of shares which is held by each co-founder, the extent of each founder responsibility, issue regarding the firing of any founder, a non-compete clause, confidentiality, etc.
3. I want to avail this service, what should I do?
Don’t worry, just fill the above mentioned details & contact the professionals of Aapkaconsultant.com and we will guide you with the complete process.
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