This clause mentions how disputes between co-founders are to be settled. The provision also includes the appeal that can be invoked in case of violation of the co-founding agreement by one of the co-founders. The provision should specify the laws applicable to such disputes and the jurisdiction of the Tribunal to open cases. While there is no formal structure for a founding agreement, here are a few things you should definitely include in yours. The fact is that by sharing roles and delineating responsibilities at an early stage, you can avoid confusion and redundancy. Two co-founders might want to tackle every part of their business, but a CEO and a CTO? Not so much. If you make sure everyone knows what they need to do, you have a less wasted and more efficient business. The more specific you can be, the clearer it becomes if Bob is making unique contributions or if he will rework the soil being dumped. Reduce costs and time decreases as much as possible, especially in your first few days. Here are some models of founding agreements that make it easy for you to enter. This is not legal advice, but a starting point for you if you are working to develop your own founding agreement. Remember: consulting a lawyer for this is always a good idea! The last thing to keep in mind isn`t that beautiful – but it`s important. And this is a non-competition or confidentiality clause.
These documents ensure that you and your co-founders can`t go out and advise you for your competitors – or even become a competitor. .