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Co Founder Separation Agreement

Co Founder Separation Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Co Founder Separation Agreement

I need a Co-Founder Separation Agreement for my Dubai-based technology startup, where one founding partner is leaving to pursue other opportunities, with a planned exit date of March 15, 2025, including transfer of 25% shareholding and ongoing consultancy arrangements for 6 months.

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Document background
The Co-Founder Separation Agreement is a critical legal document used when one or more founders decide to exit a business venture in the United Arab Emirates. This document becomes necessary when co-founders choose to part ways due to various circumstances such as strategic disagreements, personal reasons, or pursuit of different opportunities. The agreement, governed by UAE Federal Laws, particularly the Companies Law (Federal Law No. 2 of 2015) and related commercial legislation, comprehensively addresses share transfers, valuation, intellectual property rights, confidentiality, non-compete provisions, and ongoing obligations. It serves as a crucial tool for maintaining business stability during leadership transitions while ensuring legal compliance with UAE regulatory requirements and protecting the interests of all parties involved.
Suggested Sections

1. Parties: Identification of all co-founders involved in the separation, including full legal names and addresses

2. Background: Brief history of the company, founding relationship, and reasons for separation

3. Definitions: Key terms used throughout the agreement

4. Share Transfer and Valuation: Terms of share transfer, including valuation method and payment terms

5. Resignation and Management Transition: Terms of stepping down from management positions and transition of responsibilities

6. Intellectual Property Rights: Assignment and division of IP rights, including patents, trademarks, and trade secrets

7. Confidentiality Obligations: Ongoing obligations regarding company confidential information

8. Non-Compete and Non-Solicitation: Restrictions on future competitive activities and client/employee solicitation

9. Release of Claims: Mutual release of claims and liabilities between parties

10. Governing Law and Jurisdiction: Specification of UAE law application and jurisdiction for disputes

11. General Provisions: Standard clauses including severability, entire agreement, and amendments

Optional Sections

1. Ongoing Projects: Used when there are incomplete projects requiring transition or continued involvement

2. International Operations: Required when company has operations in multiple jurisdictions

3. Earn-Out Provisions: Include when payment for shares includes future performance-based components

4. Tax Considerations: Necessary when separation has significant tax implications

5. Employee Matters: Include when departing founder has specific relationships with key employees

6. Technology Transfer: Required when specific technical knowledge or systems need to be transferred

7. Customer Relationships: Include when founder has personal relationships with key customers

8. Public Announcements: Necessary for high-profile separations or public companies

Suggested Schedules

1. Schedule A - Share Valuation Report: Detailed company valuation and share price calculation

2. Schedule B - Assets List: Comprehensive list of assets being transferred or retained

3. Schedule C - Intellectual Property Register: Detailed list of all IP rights and their disposition

4. Schedule D - Outstanding Obligations: List of ongoing commitments and their handling

5. Schedule E - Payment Schedule: Detailed timeline and terms of any financial settlements

6. Appendix 1 - Resignation Letters: Template or copies of official resignation documents

7. Appendix 2 - Share Transfer Forms: Official share transfer documentation as per UAE requirements

8. Appendix 3 - Company Records: Relevant corporate documents and registrations

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Technology

E-commerce

Financial Services

Professional Services

Manufacturing

Real Estate

Healthcare

Retail

Media and Entertainment

Education

Consulting

Software Development

Digital Services

Food and Beverage

Logistics

Relevant Teams

Legal

Executive Leadership

Board of Directors

Corporate Governance

Finance

Human Resources

Company Secretariat

Compliance

Risk Management

Relevant Roles

Chief Executive Officer

Managing Director

Company Founder

Business Owner

Corporate Lawyer

Legal Counsel

Company Secretary

Chief Financial Officer

Board Member

Director

Partner

Shareholder

General Counsel

Chief Operating Officer

Head of Legal

Corporate Secretary

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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