Founders agreement

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

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Founder Agreement in Pune Cost Breakdown

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Government Fee for Individuals and startups Rs 1999.00*

TotalBuy Now Rs 1999.00**

Everything You Need To Know About- Founders Agreement Pune, Co Founders agreement Pune and Startup Founder Agreement In Pune .

 

Founders Agreement Pune

Just like Shareholders of a company need an agreement that lays down the terms and conditions of their relationship and what to do in various scenarios, the Founders or the Owners of a company also need an agreement that serves as a guiding document for them.

Everyone wants to be safe in the case of uncertainties in business. To avoid disputes that arise out of these uncertainties there exists a Founders Agreement which lays down the roles and responsibilities of each founder, or what their outtake would be in case they want to leave or if the business is terminated. Basically, a Founders Agreement is a document that lays down the outcome of uncertainties in business before such events happen.

Some interesting details about Pune

PUNE : It is the second largest Indian state in Maharashtra which was earlier spelt as Poona. It  attracts many tourist as it consist of various tourist places like  Aga Khan palace, Shaniwar Wada ,Raja Dinker Kelkar Museum, Rajiv Gandhi Zoological Park etc. It is also one of the largest center for learning  Japanese. It is a place that attracts lots of students as it is the hub of big academics institutions like Savitri Bhai Phule University , it has many central government universities like The National Defence Academy , The Armed Forces Medical College and The film And Television Institute Of India.

 

Reasons why Founders Agreement Pune , Co Founders agreement Pune and Startup Founder Agreement In Pune is Important.

 

  • The very first and foremost reason is that it lays down the roles and responsibilities of the Directors or any member concerned in the Founders Agreement. This helps in quick decision making.
  • The Founders Agreement lays down the share of each member in the company ( the equity or shareholding in the company), so that there is no dispute in distributing the profits when the time comes.
  • It also provides an exit strategy and procedure in case someone wants to leave that particular business concern.
  • In the course of business there might be situations wherein certain steps are required to be taken for example, in case of too many offers flooding in or in case of bankruptcy, the course of these steps that need to be taken are laid out in the Founders Agreement itself.
  • It helps keep in check the assets of the business concern like Intellectual Property and its transfer.

Therefore, it is essential to make a Founders Agreement to have a smooth functioning of the business.

 

Process of making a Founders Agreement.

Before making a Founders Agreement yourself it is always essential to consult someone. CompanyVakil.com is the site that helps you with all the queries related to making and implementing the Founders Agreement Pune , Co Founders agreement Pune and Startup Founder Agreement In Pune .

The steps for the same are given below:

❖      The first step is to list down all the issues such as Exit plan, Equity holding, Intellectual Property etc.

❖      The second step is to find a template of the desired format of the Founders Agreement Pune that suits your needs the best.

❖      The third step involves filling in the details like Names of Directors, Company Name and basic information. This should be followed by filling in the important and more complex information like Termination Clause, Transfer Conditions.

❖      The fourth step involves consulting people to see if the Founders Agreement is lacking. The first person to consult is an entrepreneur and find out if the Agreement served a purpose and if such purpose is being fulfilled in this particular case or not. Another person to consult is a Lawyer, who will find legal loopholes or absent clauses in the current sample of the Agreement.

The conclusive step of making a Founders Agreement Pune, Co Founders agreement Pune and Startup Founder Agreement In Pune .

is the signature of all the requisite members of the Company.

Minimum Requirements of a Founders Agreement In Pune

 

There are certain elements of a Founders Agreement that should not be left out at any cost.

  • ROLES AND RESPONSIBILITIES OF THE MEMBERS CONCERNED: What each member or director is supposed to do in any given condition or circumstance.
  • OWNERSHIP STAKE: Since this is a subjective issue, it should be clearly laid down so that no confusion or dispute. is there at the time of distributing profits or assets of the business during the time of winding up.
  • INTELLECTUAL PROPERTY: Often the idea of an IP creation is done in the interest of the founders, however a Founders Agreement , Co founder Agreement Pune should contain clauses to the effect that like any other asset the IP is also an asset of the company and belongs solely to the entity.
  • TERMINATION CLAUSE: In any case where one of the co-founders have to leave a clause needs to be drafted which protects the interest of all the founders in the Co founder Agreement Pune.

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Founder's Agreement

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