Founders Agreement Templates (UK & Hong Kong)
Originally published: 09/11/2017 15:04
Last version published: 17/01/2018 11:02
Publication number: ELQ-22901-2
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Founders Agreement Templates (UK & Hong Kong)

Founder Collaboration Agreement Templates for use in the UK & Hong Kong.

In a startup, as a potential founder you have the difficult job of trying to inspire other potential co-founders to join you in your venture and then quickly establish an environment where:
1. Everyone trusts eachother
2. Everyone works hard
3. Everyone shares success fairly

The Founder's Collaboration Agreement has been created for teams that have just been formed. It is to be used when two people have decided to work together to develop a certain technology or business concept. This is so that they can establish each founder's shareholding and ensure that each founder will- throughout the company's lifetime- put in a solid effort so that they hold onto their equity stake.

The intention of creating this agreement is so that in events that collaboration is key, or in events where startups have been formed quickly and rashly, there will be a document to formalize everything before team members stop pulling their weight and disputes arise.

The agreement takes for granted that each person shall be a co-founder of a newly-formed company, and so it states how the company's share capital will be divided. It also contains share vesting provisions in case a founder decides to opt out during the vesting period; this is to cover that situation. This agreement also states that each co-founder is obliged to transfer any IP- developed in collaboration- to the company.

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This Best Practice includes
1 Downloadable Founders Agreement UK, 1 Downloadable Founders Agreement Hong Kong

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