What is Co-Founders’ Agreement?
Document addressing relationship among startup founders by defining their rights and responsibilities.
Originally published here.
cofounder shareholder promoter agreement for startups company investment
Why is Co-Founders’ Agreement required?
To avoid legal pitfalls during early stages of startup and ensure proper understanding between cofounders, thereby reducing risk of disputes and misunderstandings.
Startup Co-Founders Agreement – Equity Ownership, Investments, Responsibilities, Vesting, Shareholding, Stock Options, Share Transfer and Exit of Founders from Rahul Dev
Key Clauses of CoFounders Agreement
Roles and responsibilities
Shareholding pattern, Vesting & Lock-in period
Future Stock Options
Issuance of new shares
Transfer of shares – restrictions and procedure
Decision making process for startup operations
Possible exit strategy for each cofounder or shareholder
Drafting Cofounders Agreement
A general list of understanding between startup founders is prerequisite before drafting agreement.
Noting main points on company’s letterhead can be a good start.
Engaging startup company lawyer to formally draft the agreement is strongly advisable.
Rahul Dev, Partner at the law firm of Tech Corp Legal LLP, is a patent attorney and international technology business lawyer. Dev’s corporate law practice is aimed at integrating patents, technology laws, intellectual property rights, regulatory and security laws to provide services to Tech companies.
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Our team of patent attorneys and technical patent experts has comprehensive experience in executing projects pertaining to international patent drafting, patent drafting services, drafting patent claims and patent applications, software and mobile app patents, provisional and non-provisional patents, patent searches, office action responses, etc.
Rahul Dev is a Patent Attorney & International Business Lawyer practicing Technology & Corporate Laws. He is reachable at info (at) techcorplegal (dot) com & @rdpatentlawyer on Twitter
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