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Founder Collaboration Agreement

Founder Collaboration Agreement Template for India

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Key Requirements PROMPT example:

Founder Collaboration Agreement

"I need a Founder Collaboration Agreement for a technology startup with three co-founders, where two founders are providing technical expertise and one is providing initial capital of Rs. 50 lakhs, with special attention to IP rights and vesting provisions over 4 years starting January 2025."

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Document background
The Founder Collaboration Agreement is essential for entrepreneurs establishing a new business venture in India. This document becomes relevant when two or more individuals decide to start a business together and need to formalize their relationship, responsibilities, and ownership structure. It serves as a critical foundation that helps prevent future disputes and misunderstandings by clearly documenting all aspects of the founder relationship at the outset. The agreement must comply with Indian business and contract law, including the Companies Act, 2013, and the Indian Contract Act, 1872. It typically includes provisions for equity distribution, roles and responsibilities, decision-making processes, intellectual property rights, confidentiality obligations, non-compete clauses, and exit mechanisms. This comprehensive document is particularly important in the Indian business context, where clear documentation of founder relationships can help avoid future legal complications and ensure smooth business operations.
Suggested Sections

1. Parties: Identifies and provides details of all founding members entering into the agreement

2. Background: Explains the context of the collaboration and the purpose of forming the business

3. Definitions: Defines key terms used throughout the agreement

4. Scope of Collaboration: Outlines the nature and extent of the business venture and collaboration

5. Roles and Responsibilities: Defines specific roles, duties, and responsibilities of each founder

6. Decision Making: Establishes processes for making business decisions and required voting thresholds

7. Capital Contributions: Details initial and future capital contributions from each founder

8. Equity Distribution: Specifies how ownership of the company is divided among founders

9. Intellectual Property Rights: Addresses ownership and protection of IP created before and during the collaboration

10. Confidentiality: Defines confidential information and obligations to protect it

11. Non-Compete and Non-Solicitation: Restricts founders from competing activities and poaching employees/clients

12. Dispute Resolution: Establishes procedures for resolving disagreements between founders

13. Exit Provisions: Details procedures for founder departure, voluntary or involuntary

14. Term and Termination: Specifies duration of agreement and conditions for termination

15. General Provisions: Includes standard legal clauses like governing law, notices, and amendments

Optional Sections

1. Vesting Schedule: Used when founders want to implement equity vesting over time to ensure long-term commitment

2. External Activities: Include when founders maintain other business interests or employment

3. Founder Illness/Incapacity: Added when founders want specific provisions for handling long-term illness or incapacity

4. Intellectual Property Assignment: Detailed IP assignment provisions when significant pre-existing IP is involved

5. Tag-Along/Drag-Along Rights: Include when planning for future investment or sale scenarios

6. Dead Lock Resolution: Added when there are equal ownership splits that could lead to decision deadlocks

7. Family Succession Rights: Include when founders want to address inheritance of founder rights

8. Geographic Restrictions: Used when business operations are limited to specific territories

9. Additional Funding Provisions: Include when anticipating future funding rounds or capital needs

Suggested Schedules

1. Schedule 1: Business Plan: Detailed business plan and strategic objectives

2. Schedule 2: Initial Capital Contributions: Itemized list of cash and non-cash contributions from each founder

3. Schedule 3: Existing IP: List of pre-existing intellectual property brought into the business

4. Schedule 4: Restricted Activities: Detailed list of prohibited competitive activities

5. Schedule 5: Key Performance Indicators: Metrics for evaluating founder performance and business success

6. Schedule 6: Vesting Schedule: Detailed equity vesting timeline and conditions

7. Appendix A: Founder Details: Detailed information about each founder including contact details and qualifications

8. Appendix B: Company Formation Documents: Copies of relevant company registration documents

9. Appendix C: Initial Roles and Responsibilities Matrix: Detailed breakdown of each founder's duties and areas of responsibility

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
Relevant legal definitions
Clauses








































Relevant Industries

Technology and Software

E-commerce

Healthcare

Financial Services

Manufacturing

Professional Services

Education Technology

Biotechnology

Retail

Media and Entertainment

Clean Energy

Agriculture Technology

Telecommunications

Real Estate

Consulting Services

Relevant Teams

Legal

Corporate Affairs

Executive Leadership

Board of Directors

Company Secretarial

Business Development

Corporate Development

Compliance

Risk Management

Strategic Planning

Relevant Roles

Founder

Co-founder

Chief Executive Officer

Managing Director

Director

Chief Technology Officer

Chief Financial Officer

Chief Operating Officer

Company Secretary

Legal Counsel

Corporate Lawyer

Business Development Manager

Startup Consultant

Venture Capitalist

Investment Advisor

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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