Co-Founder Agreement Template

What will you do if there is a dispute over something in this agreement? In this section, you will explain this approach. Many startup founders decide that any dispute with the founding agreement will be settled by binding arbitration, but it`s up to you and your co-founders to decide what you want to do. Founders may be reluctant to allow distance for no reason. The logic of allowing a simple distance without giving reasons is to avoid unnecessary drama if the co-founder`s relationship is angry. Once the company has real value (customers, turnover, external investments), the founders will naturally want more protection. In the meantime, the founders should remain free to separate without giving reasons. Each founder assures and guarantees that he or she does not participate in another agreement that would limit the founder`s ability to fulfill his or her obligations under this founder`s cooperation agreement. Each founder assures and guarantees that no third party can assert intellectual property or other property rights that this founder holds in terms of business concept and technology. Successors/endowments. This agreement binds and depends on the founders, the company, their successors and their approved beneficiaries of the transfer. The current legislation.

This agreement is governed by the laws of the State of New York and is interpreted accordingly for contracts signed and executed exclusively within that state. By signing below, each founder indicates that he accepts the terms of this agreement in its entirety at the time of the first written time and assures the company and any other founder that he has read and understood the agreement in its entirety and that, to the knowledge of any founder, no law or third-party commitment would prevent any founder from concluding and implementing the agreement in its entirety. For simplicity`s sake, this agreement can be executed electronically and in your counterparties. Each counterparty is binding and all constitute the same instrument. With all the things that go to creating a startup, it can be tempting to forget to design your founding agreement. You`ll be good, won`t you? You`re all buddies. We trust each other. You`re here together! Wondered if anyone has a good resource for a model for co-founders agreements….

Each founder has the same stake in the company. The ownership interests of the founders must not be represented by a certificate or other evidence beyond those contained in this agreement. When a founder asks for it, the company issues a certificate justifying the founder`s interest. The certificate must contain a legend stating that the shares of ownership are subject to legal and contractual restrictions for the transfer. Any future agreement that requires a stake in the business concept and the technology and intellectual property associated with it must be transferred to a third party before the company is created before the creation of the company is agreed by each founder.

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