Founders agreement

An Agreement between founders, that outlines all the important aspect of their relationship

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Founder’s Agreement in Jaipur

A Founder’s Agreement can be defined as a contract which is entered into by the co-founders of a company. This contract discusses the different aspects related to the company such as the duties, roles and responsibilities, the equity vested in them, and other issue related to business.

The founder’s agreement serves in the sense that it specifies the exact role every founder has to play in the governance and managing of the company, thus avoiding any ambiguity or conflict between the founders regarding their duties and powers.

When this happens the organization is able to work smoothly and without any conflict between the founders. Thus the organization is able to achieve its goals and the vision of its founders in an efficient and harmonious way paving the path of success for the organization as well as its founders.

Usually, such terms which are discussed in the founder’s agreement remain un-discussed and vague if there is nothing such as an agreement between the founders. The vagueness and ambiguity of these things lead to arguments and conflicts which hamper the running and progress of the organization as conflicts do not ever sit well with anyone.

So it is better than before or during the incorporation process of the organization, the founders discuss openly the terms with each other and then after the draft a mutual agreement known as founder’s agreement.

The essential elements of a proper founder’s agreement are the objective and visions of the organization, the ownership percentage of each founder, initial capital investment, roles and responsibilities of each founder, the salary the founders are entitled to, and the aspects in case of a dissolution or winding up of the organization.

We at Company vakil help you to draft a founder’s agreement from Jaipur. Jaipur is one of the royal cities in Rajasthan. If one visits Jaipur, some of the must-to-visit places in the city includes the Amer Fort, Jal Mahal, Hawa Mahal, City Palace, Nahargarh Fort, Jantar Mantar, Birla Mandir, Jaipur zoo, Sisodiya Rani Bagh, etc. Among these places, Amer Fort and Jantar Mantar are the UNESCO world heritage sites. These royal sites mesmerize anyone who pays a visit to the pink city.

 

Reasons to have a co Founder’s Agreement in Jaipur

A Founder’s Agreement in Jaipur is a very important document which is necessary to be drafted and incorporated in the organization to facilitate the smooth running and efficient conflict free working of the organization. It is recommended to take the help of a professional to draft the founder’s agreement as it is a very vital document. The reasons to have a co Founder’s Agreement in Jaipur are:

  1. A founder’s agreement specifies the roles and responsibilities held by each founder clearly.
  2. It greatly reduces the chances of having any sort of conflict between the founder’s as all the powers and responsibilities have been already specified.
  3. If there is no such agreement it is possible for one partner to walk away and thus use his knowledge of the business for competition.
  4. The absence of the founder’s agreement also makes it possible for one partner to take advantage of the other.
  5. The Founder’s agreement is a must have in order to ensure the smooth and hassle-free working of the organization.

 

Process for Drafting a co Founder’s Agreement in Jaipur

The Founder’s Agreement in Jaipur is a vital document in order to make sure that the organization is able to work smoothly and without any hassle. Therefore, it is suggested to hire a professional for drafting the founder’s agreement properly as they have effective knowledge and know-how of legal processes and factors. The process of drafting a Founder’s Agreement in Jaipur is:

  1. Prior to drafting the agreement, it is necessary that the founder’s openly discussed with each other all the terms and aspects of the agreement and thus mutually reach a final stand.
  2. The roles and responsibilities held by each of the founders are to be specifically established.
  3. The division or allocation of ownership between the founders is the next step so that everyone can mutually decide what percentage of the organization does everyone own.
  4.  
  5. The vision or the objective of the organization and the founders’ role in it needs to be expressly determined.
  6. After deciding on all these terms and aspects, they are laid down in the firm and the written document known as Founder’s Agreement is thus drafted.

Documents required for drafting Founder’s Agreement in Jaipur

All the documents are required only in the scanned form. You can attach the document in the form after the payment or e-mail it to us ondocuments@companyvakil.com. Feel free to get in touch for any query. All we need from you is an information sheet which we will be providing to you and has to be filled by you and signed after making payment. You can also e-mail it to us.

 

Advantages and Benefits of Founder’s Agreement in Jaipur

The advantages and benefits of having a proper Founder’s Agreement are:

  1. A founder’s agreement specifies the roles and responsibilities held by each founder clearly.
  2. Having a founder’s agreement helps to clear the air on matters which may otherwise go un-discussed between the founders or the partners.
  3. It greatly reduces the chances of having any sort of conflict between the founder’s as all the powers and responsibilities have been already specified.
  4. The presence of such an agreement makes sure that it is impossible for one partner to walk away and thus use his knowledge of the business for competition.
  5. The presence of the founder’s agreement also makes it very difficult impossible for one partner to take advantage of the other.
  6. The Founder’s agreement is a must have in order to ensure the smooth and hassle-free working of the organization.
  7. A founder’s agreement facilitates the founders having a good relationship with each other.

TIME TAKEN in registration process

2-3 days

Founder's Agreement

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Frequently Asked Questions 

Q.1. What is a Founder’s Agreement?

A founder’s agreement is an agreement entered into by the founders of the company in order to have an open and honest discussion of the aspirations, fears and attitudes of individuals involved.

 

Q.2. How much time does it take to draft a Founder’s Agreement?

Drafting a founder’s agreement in India with the help of Company vakil’s professionals ideally takes just 2-3 days.

 

Q.3. What are all the services I will receive from Company vakil for drafting a founder’s agreement?

With Company vakil, you get the consultancy services, the drafting of the original agreement, and up to 4 reviews and changes.

 

Q.4. How much will it cost me to draft a founder’s agreement with Company vakil’s help?

You can get a proper and immaculate Founder’s agreement with the help of Company vakil for just a minimal cost of INR 1999/-.

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