Founders’ Agreement (UK)
£45.00
The Founders’ Agreement (UK) is a template for a legally binding contract designed to outline the roles, responsibilities, and relationships among the founders of a company. It ensures clarity and alignment on critical business decisions and protects the interests of the company and its founders by establishing clear terms regarding equity ownership, intellectual property, and dispute resolution.
Purpose and Benefits
The Founders’ Agreement:
- Promotes transparency and accountability among founders.
- Minimizes the risk of disputes by setting clear expectations.
- Protects the company’s assets, including intellectual property and confidential information.
- Provides a roadmap for handling founder departures, equity changes, and major business decisions.
This agreement is a critical tool for ensuring a strong and legally sound foundation for the company’s success.
Product Features:
- This downloadable legal template is suitable for use in England and Wales and is available in Word and PDF format.
- Includes a set of drafting instructions to assist you with customizing the document for your specific needs.
For assistance with having the document reviewed by a lawyer, please see our Legal Consultation service for more details.
Description
Purpose and Scope
This template is for an agreement designed to govern the formation and management of a company under the laws of England and Wales. It serves as the foundational framework for addressing operational, financial, and legal aspects of the company’s establishment and growth. The document is intended to prevent conflicts among founders by preemptively addressing common issues, such as ownership distribution, decision-making, and founder exits.
Key Provisions
- Formation and Purpose
- Equity Ownership and Contributions
- Roles and Responsibilities
- Decision-Making
- Vesting of Equity
- Intellectual Property (IP) Assignment
- Confidentiality
- Non-Compete and Non-Solicitation
- Exit Clause and Buy-Back Rights
- Dispute Resolution
- Governing Law
- Amendments
- Entire Agreement
This template and any associated drafting tips and instructions are for guidance purposes only. It is recommended that all parties seek independent legal advice to ensure the Agreement meets their specific needs.
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