Co Founder Separation Agreement Template

With all the things that fuel the creation of a startup, it can be tempting to forget to design your founding agreement. You`re going to be good, right? You are all friends. You trust yourself. You are together! You must also indicate when and how you and your co-founders would agree to the sale of intellectual property. Who makes this decision? Is it a majority vote? Up to the CEO? Vote unanimously? And if this IP is sold, who will have the money? Be sure to sketch out all of these factors in this section. The last thing to keep in mind isn`t that beautiful – but it`s important. And this is a non-competition or confidentiality clause. These documents ensure that you and your co-founders can`t go out and advise you for your competitors – or even become a competitor. It`s probably not something you want to think about in the drunken early days of a startup, but it`s worth making a plan, just in case.

And while all of this is certainly true, you still need to get a founding agreement. A founding agreement, like all contracts, is there not only to help you navigate your daily conditions, but also to help you if things don`t go as planned. Don`t skip this step, founder. 4. Necessary measures. As soon as it has been established, by a simple majority, that the company is created and created, each founder grants and transfers to the company, upon its creation, all its rights, title and interest in the product or service (including all rights, title and interests in intellectual property and applications, including the waiver of all moral rights and the assignment of all patents, designs, industrial designs, trademarks, copyrights, trade secrets, ideas (as shaped or not) and work products and / or labor resulting from a task or work performed by the founder, which relates to the product or service, for the entire lifetime of these rights (the « Transfer »). Such a transfer shall be made in accordance with a confidentiality and customary assignment agreement in favour of the undertaking. Each founder will make such a transfer without the right to compensation, in one way or another, both at the time of transmission and at any time in the future..

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