Instead of letting your start-up get to this point, make sure that, in your foundation agreement, you clarify who is responsible for what. By writing down the role and responsibilities of each founder, you will ensure not only that the goat stops with whom he must stop, but also that you and your co-founders and the work of the other will be revived. Because this kind of inefficiency can lead to the decline of a startup. The lawyers themselves use templates to draw documents. Traditionally, many have used “precedents,” text versions that cover a single subject, to build the document. Today, they download a whole template document, as you can, from a legal postman. It is not a standard shareholder contract. All other shareholders, including all future employees to whom you wish to renew the title of “co-founder,” should sign another agreement if shares are issued outside of this original agreement. Without the right documents, you can end up at a founder you can`t delete, even if they don`t act in the best interest of the company.

An “action cliff” is a grace period before shares begin to decompense (i.e. before ownership of the shares begins to be transferred to a founder). Ownership of the shares will not begin to be transferred until after a certain period (i.e. the cliff). If a founder leaves during the cliff of shares, they will go without equity in the company. For more information, check out our guide to founders` agreements. If you`re working to discover this step, read our guide to founders` compensation and our guide to the startup CEO`s salary. A business creation agreement is a set of commitments that business creators have to each other and to the company, detailing their roles, responsibilities, salaries, equity compensation and much more. There are two main types that have been developed for startups at different stages: checking your final document can give all shareholders a lot of certainty that the deal goes overboard and does what they are supposed to do. The founders promise is pretty easy, so if you start coming on the idea scene and start moving on this first rounding round, you should consider the Founders service agreement more serious, which has a much larger number of provisions. Still not sure? Here you will find more information on whether you need a founder service contract or a founder`s promise. It is a simple agreement for two or more individual co-founders to sign at the beginning of their joint efforts.

All contributions from the founders, whether cash or assets, should be mentioned in the agreement.