What should Founders’ Agreement include?
Parties to the Agreement
Indicates the legal names of founders at the start of the document as parties to the Founders’ Agreement
Roles and Responsibilities
How each founder will contribute to the company in terms of duties, obligations, hour commitments, and other responsibility areas
Ownership Structure & Vesting
Set out the percentage of shares that each founder will own in the company
Intellectual Property
Defines what technology or intellectual property the founders intend to make use of in the startup and whether all founders own it collectively or not
Termination
Circumstances of terminating the Founders’ Agreement between the co-founders
Governing Law and Dispute Resolution
Business laws and legal operations are necessary for startup foundation and operation.