A founders' agreement should record ownership, responsibilities, contributions, decision rules, intellectual-property ownership and what happens if a founder leaves or fails to perform agreed obligations.
Core provisions
- founder equity
- capital contributions
- future funding
- roles and responsibilities
- time commitments
- voting
- reserved matters
- salaries or compensation
- IP ownership
- confidentiality
- founder departure
- transfer restrictions
- deadlock
- dispute resolution
A founders' agreement should be coordinated with the company's Memorandum and Articles so the documents do not conflict.