The Co-Founder Agreement is essential when two or more individuals come together to establish a business venture in Ireland. It should be implemented at the earliest stages of company formation, ideally before or during the incorporation process. This document is crucial for defining the fundamental aspects of the co-founder relationship, including equity distribution, vesting schedules, roles and responsibilities, decision-making processes, and intellectual property rights. It helps prevent future disputes by clearly outlining expectations and obligations while ensuring compliance with Irish company law and related regulations. The agreement typically includes provisions for business operations, confidentiality, non-compete clauses, and exit scenarios, providing a solid foundation for the business relationship.
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1. Parties: Identification of all co-founders and the company (if already incorporated)
2. Background: Context of the agreement, including business concept and purpose of the arrangement
3. Definitions: Key terms used throughout the agreement
4. Business of the Company: Description of the company's primary activities and scope
5. Roles and Responsibilities: Detailed outline of each co-founder's position, duties, and commitments
6. Equity Structure: Distribution of shares, vesting schedules, and share classes
7. Capital Contributions: Initial and ongoing financial or asset contributions by each co-founder
8. Decision Making: Voting rights and process for key business decisions
9. Intellectual Property: Assignment and ownership of IP created by co-founders
10. Confidentiality: Protection of company and co-founder confidential information
11. Non-Competition: Restrictions on competing activities during and after the relationship
12. Transfer of Shares: Rules for selling or transferring shares, including right of first refusal
13. Exit Provisions: Procedures for co-founder departure, voluntary or involuntary
14. Dispute Resolution: Process for resolving disagreements between co-founders
15. General Provisions: Standard boilerplate clauses including governing law, notices, and amendments
1. External Activities: Used when co-founders maintain other business interests or employment
2. Founder Loans: Include when co-founders are providing loans to the company
3. Technology Transfer: Required when existing technology is being transferred to the company
4. Board Composition: Include for larger startups with formal board structures
5. Employee Option Pool: Include when planning future employee equity incentives
6. Drag Along/Tag Along Rights: Add for companies planning future investment rounds
7. Family Member Involvement: Include when family members may be involved in the business
8. International Operations: Add for businesses planning to operate in multiple jurisdictions
1. Schedule 1: Share Capital Table: Detailed breakdown of shareholding and share classes
2. Schedule 2: Business Plan: Initial business plan and financial projections
3. Schedule 3: Intellectual Property Register: List of existing IP being transferred to the company
4. Schedule 4: Vesting Schedule: Detailed terms of share vesting arrangements
5. Schedule 5: Role Descriptions: Detailed job descriptions and responsibilities of each co-founder
6. Schedule 6: Key Performance Indicators: Metrics for measuring co-founder performance
7. Schedule 7: Pre-existing Commitments: List of approved external commitments of each co-founder
8. Appendix A: Board Resolution Template: Standard format for recording board decisions
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