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Founders Collaboration Agreement
"Need a Founders Collaboration Agreement for a tech startup with three co-founders, where we'll have different equity stakes (40%, 35%, 25%) and specific vesting schedules starting from January 2025, with particular focus on IP rights for our AI technology."
1. 1. Parties: Identification and details of all founding parties entering into the agreement
2. 2. Background: Context of the collaboration, business venture, and purpose of the agreement
3. 3. Definitions: Key terms and their meanings used throughout the agreement
4. 4. Roles and Responsibilities: Detailed outline of each founder's duties, commitments, and time dedication
5. 5. Intellectual Property Rights: Ownership, transfer, and protection of IP created during collaboration
6. 6. Decision Making: Procedures for business decisions, voting rights, and governance structure
7. 7. Confidentiality: Protection of sensitive information and trade secrets
8. 8. Term and Termination: Duration of the agreement and circumstances for termination
9. 9. General Provisions: Standard boilerplate clauses including governing law, notices, and entire agreement
1. Non-Compete Provisions: Restrictions on competitive activities and timeframe for such restrictions
2. Share Vesting: Schedule and conditions for earning equity stakes over time
3. External Investment: Provisions for accepting outside investment and related procedures
4. Founder Departure: Procedures and consequences of founder exit, including share transfer provisions
5. Dispute Resolution: Specific procedures for resolving conflicts between founders
1. Schedule 1 - Business Plan: Detailed business strategy, objectives, and milestones
2. Schedule 2 - IP Schedule: List of existing IP brought into the collaboration by each founder
3. Schedule 3 - Share Capital Table: Breakdown of shareholdings, share classes, and ownership structure
4. Schedule 4 - Vesting Schedule: Detailed timeline and conditions of share vesting arrangements
5. Schedule 5 - Founder Details: Comprehensive information about each founder including contact details and roles
Authors
Business
Business Day
Business Plan
Commencement Date
Company
Confidential Information
Deadlock
Directors
Effective Date
Encumbrance
Fair Market Value
Founders
Good Leaver
Bad Leaver
Initial Business Plan
Intellectual Property Rights
Material Breach
New Intellectual Property
Parties
Pre-existing Intellectual Property
Project
Reserved Matters
Shareholders
Shares
Share Capital
Share Vesting Schedule
Territory
Transfer
Valuation
Vesting Period
Working Hours
Scope of Business
Founders' Commitments
Roles and Responsibilities
Decision Making
Share Capital and Ownership
Share Vesting
Intellectual Property Rights
Confidentiality
Non-Competition
Non-Solicitation
Business Management
Financial Matters
Reserved Matters
Board Composition
Deadlock Resolution
Transfer of Shares
New Shareholders
Good Leaver/Bad Leaver
Exit Provisions
Founder Departure
External Investment
Company Formation
Further Assurance
Costs and Expenses
Force Majeure
Notices
Assignment
Severability
Entire Agreement
Variation
Waiver
Third Party Rights
Governing Law
Dispute Resolution
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