The Founders Collaboration Agreement is essential when two or more individuals come together to establish a business venture in England and Wales. This document is typically used at the early stages of a business relationship, before or during company formation. It sets out crucial terms including ownership stakes, roles, responsibilities, and decision-making processes. The agreement helps prevent future disputes by establishing clear guidelines for the founders' relationship and protecting each party's interests. This document is particularly important for startups and new ventures where multiple founders are involved.
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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
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