Founders Agreement India
Founders agreement India to outline all the important aspects of the relationship between the founders.
Satisfaction & Money Back Guarantee
Founder's Agreement India
The founders' agreement is an official contract or a legal agreement executed between the co-founders of the company while setting up a business. This agreement elucidates the roles, rights and, duties, responsibilities, ownership, liabilities, and investment proportion of each founder. A founders' agreement should be made in the written format, not by an oral. Two or more partners jointly can enter into the founders' agreement called co-partners/ parties. All co-founders will enter into the agreement exactly while incorporating the business or company. The objective of the founders' agreement is to avoid disputes regarding business, which may arise over time between co-founders. This agreement apparently set out the strategy of the founders, who should act within the ambit and should follow the mandatory provisions laid on. Founders' agreements also help in tackling uncertain occurrences like the death of the co-founder, resignation, which directly affects the sustained growth and smooth running of the business or firm.
Benefits of a Founders Agreement India
Outlined business plans
Structure of Ownership
Procedure of founders Agreement Draft
The procedure for founders agreement draft involves the following steps:
- The founders agreement draft is prepared by including all the required fields, like objectives of the company, terms, and, conditions to be followed by the co-founders.
- Once the drafting process is complete, check if all mandatory provisions have been included, with no ambiguous clauses.
- Add additional information that has to be furnished in the agreement, if required.
- The final draft should be acknowledged by all the cofounders, that it has been scrutinised with acceptance of the aforementioned agreement.
- Once all co-founders have agreed to the agreement, it should be notarized on a non-judicial stamp paper.
- After notarizing, get the signature of all the co-founders on the agreement.
- Before entering into the agreement, get expert guidance to avoid disputes.
Make Application in 3 Easy Steps
1. Follow Quick Process
- Pick the best suitable Package
- Spare less than 10 minutes to fill out our online Questionnaire
- Upload required documents
- Make quick payment through our secured gateways
2. Experts are here to help
- Assigned Relationship Manager
- Consultation regarding the copyright registration process
- Provide details about your original work
3. Your agreement is filed
- All it takes is 10 – 12 working days
The founder's agreement will restrict co-founders from engaging with other employment opportunities, even if they are relieved or ousted from the company.
Yes, the founder's agreement has to be executed on non-judicial stamp paper for respective value and get notarized from the notary person, in order to make the agreement a legally enforceable one.
Yes, but it depends on the severity of the dispute! For example, the shares of the co-founder will be vested with the company if he violates or breaches the agreement.