Founder agreements
Write down who owns what, who does what and who decides, before the business is busy.
Agree roles, equity and decisions between co-founders.
- Business / Legal document
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Key features
Ownership split in percentages
A section for the percentage each founder holds, with a line for any other holder, so the split is written down rather than assumed.
Earning ownership over time
A section where you fill in how long ownership is earned over, when earning starts, and what the company may pay if a founder leaves before it is all earned.
Roles, time and contributions
Blanks for each founder's role, the time they commit each week, and the money, property or work each puts in and by when.
Ideas assigned to the company
A clause assigning what each founder creates for the business to the company, with a blank to list anything a founder keeps out.
A way out of a stalemate
A section where you write down what the founders will do if they cannot agree on a decision that needs all of them, such as bringing in a mediator.
About this document
A founders' agreement is the document co-founders sign to record how they will share a new business: the ownership each holds, the part each plays, what each puts in and how decisions get made. It is easiest to write when everyone is still friendly and nothing has gone wrong.
This is a blank form. It is already written out as a full agreement, with ruled blanks where your names, percentages, roles and dates go, and you complete it by hand. It is set up for two founders, with a signature line for each; a third founder means a further copy or a lawyer's help.
Is this document right for you?
Useful when
- Two people are starting a business and have only agreed on it in conversation
- One founder is putting in money and the other is putting in work, and you want that recorded
- You want to settle what happens if one founder walks away early
Commonly used by
- Co-founders of a startup
- Friends or family starting a business together
- A founder bringing in a technical partner
Not sure? about your situation first.
Alternatives
These are separate documents, for different jobs.
- Shareholder agreementsGovern how shareholders own, vote and sell their shares.View document
- Partnership agreementsSet out how partners share work, profit and decisions.View document
- Operating agreementsSet the rules for how an LLC is owned and run.View document
- Equity-compensation documentsGrant employees shares or options as part of their pay.View document
When to use this
- Before incorporating, to agree the percentages the two of you will hold
- When a part-time founder joins and you want their role and hours written down
- Before taking outside money, so the founders' own arrangement is settled first
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More in Shareholder & Ownership
- Shareholder agreementsGovern how shareholders own, vote and sell their shares.View document
- Ownership and equity documentsRecord who owns what share of the company.View document
- Share issuance documentsIssue new shares and record who receives them.View document
- Equity-compensation documentsGrant employees shares or options as part of their pay.View document
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Questions
About the founder agreements
It can be. The form asks for the company's name and kind, and says it may be formed now or later. If the company is already running, a shareholders' agreement or operating agreement may fit better, so compare them.
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