Founders Agreement

FOUNDERS AGREEMENT

 

Every company will have its founders taking the initiative of forming the company. They shall be vested with various rights and responsibilities. A legal document that lists down the does and does not of the founding members which are made between the founders of a company is called a Founders Agreement which shall have legal binding. Every aspect that details the relationship between the founder and the company from the date of forming the relationship to the date of its ending will be broadly mentioned in an Agreement.

Panomics Legal Mentors is an online legal service platform where a team of expert legal professionals from India, offering a variety of legal services relating to Agreement of Founder, master service agreement, consultancy agreement, legal notices, negotiable instruments, company registrations, intellectual property, tax services, personal and property services.

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WHY CHOOSE Panomics Legal Mentors?

This organization comprises of expert legal professionals, who use their expertise will draft a founder’s agreement that shall cover all the legal requirements and needs of the parties. The experience and the knowledge that our professionals hold can help you in including clauses in your agreement that shall effectively describe the relationship between the parties as well as avoid confusions or difficulties in the future.

 

ADVANTAGES OF FOUNDERS AGREEMENT

 

  1. IMPROVES CLARITY: The agreement involves a detailed description of the nature of work and the relationship of the founder with the company that will avoid confusion.
  2. GUARDS THE PARTIES: The parties express their will, rights, and duties in an agreement which reduces the scope of disputes between the parties in the future.
  3. PROOF: It acts as evidence that expresses the duties and rights which the parties have agreed on.
  4. SCOPE OF CONFIDENTIALITY: Agreement involves clauses that state the compliance with any confidentiality that the parties may prescribe in their contract.
  5. INTELLECTUAL PROPERTY RIGHTS: The ownership rights and usage rights of a trademark or trade name will be clearly distinguished in the founders’ agreement that will establish the rights of parties very clear.

 

Click here to know more about the “Joint Venture Agreement”.

 

CONTENTS

 

  • Name and details of the parties.
  • Date of the agreement.
  • Key responsibilities.
  • Transfer of ownership.
  • Ownership structure.
  • Terms of management.
  • Terms of liability sharing.
  • Terms pertaining to death or departure of the founder.
  • Confidentiality.
  • Decision-making and dispute resolution.
  • Representations and warranties.
  • Choice of law.
  • Signature of parties.