Ohio Co-Founder Agreement - Checklist
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How to fill out Co-Founder Agreement - Checklist?
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Founders' agreement outlines the rights and responsibilities of the cofounder that can help in avoiding any conflict that might arise among cofounders in the future. The cofounders should thoroughly consider any potential issues that they or the business may face and conceptualize answers for the equivalent.
The best way to go through this is for each founder to copy this document, write answers independently, then share your answers and discuss. Why do you want to do this startup? ... What will our roles and titles be? ... How will we split up equity? ... Where will the company be based? ... What idea will we work on?
What Should be Included in a Founders Agreement? Names of Founders and Company. This one is pretty non-negotiable. ... Ownership Structure. ... The Project. ... Initial Capital and Additional Contributions. ... Expenses and Budget. ... Taxes. ... Roles and Responsibilities. ... Management and Legal Decision-Making, Operating, and Approval Rights.
Also known as a co-founders agreement, this written legal document sets expectations for each founder so everyone's on the same page. It also regulates matters not covered by financial or operating agreements, such as intellectual property rights and equity vesting schedules.
Key considerations include: Ideas and contributions of co-founder(s) It is important to consider what each founder brings to the business. ... Reputation and experience. ... What are their priorities? ... Business structure. ... Employer responsibility. ... Intellectual property. ... Business terms and conditions.
Your co-founder will most likely be an expert in what they do. However, they should also be able to add insights into the other aspects of your business (technology, marketing, sales, etc.) If they're a fast learner, they will quickly be able to keep up with the conversation.
What Should be Included in a Founders Agreement? Names of Founders and Company. Ownership Structure. The Project. Initial Capital and Additional Contributions. Expenses and Budget. Taxes. Roles and Responsibilities. Management and Legal Decision-Making, Operating, and Approval Rights.
Contents of a Co-Founder Agreement Company Formation. Details on the formation of the company, including the company's name, location, and purpose. Ownership and Equity. ... Roles and Responsibilities. ... Capital Contributions. ... Intellectual Property. ... Confidentiality and Non-compete. ... Dispute Resolution. ... Termination.
