My answer to When starting a company, how do you come up with a founders agreement or contract?
Answer by Raad Ahmed:
You can find generic templates online, but it is best to write your own with the help of an attorney because that is the only way to be sure that the agreement will be tailored to your company. That being said, there are some things that the founders should come up with together before going to an attorney.
So, how do you come up with an agreement? I would suggest first just sitting down and talking about how the relationship between the founders will play out. Specifically some things that should come up are: how responsibilities will be divided, how decisions will be made and what would happen in the event of a disagreement, how equity will be split and what would happen if new investors come along.
Once you have a feel for how your agreement will look, you can bring it to an attorney to work on a final draft. An experienced attorney will be able to use your guidelines and input to draft an agreement that is tailored to your company. At LawTrades, our attorneys have experience drafting these agreements and have helped many other companies with theirs. Visit ourto see how we can help you!