Founders’ Agreement Template

W
E
Heading
Noto Serif JP
16
Document Structure
1. TRANSFER OF OWNERSHIP TO COMPANY UPON FORMATION
Section 1.1
Section 1.2
Section 1.3
Founders’ Agreement
AMONG THE FOUNDERS OF  PROJECT NAME
The undersigned (each a “Founder” and together the “Founders”) are collaborating with the purpose of developing together a Business Concept related to the following:

 PROJECT NAME is a  PROJECT DESCRIPTION

Founders agree that all related technology to the Business Concept is also owned by the Founders pursuant to this Agreement (together, the “Business Concept and Technology”). As the Business Concept is further developed, Founders intend to transfer the Business Concept and Technology to either a California or Delaware Corporation that shall be formed by the Founders (the “Company”) upon the earliest of the following circumstances:  WHEN THE PROJECT WILL BECOME A COMPANY

Parties agree to transact the Business Concept and Technology through the corporation  OPERATION COMPANY NAME, (the “Operational Company”) a Delaware corporation with a business address of  OPERATION COMPANY ADDRESS. Parties agree that the Operational Company has no rights in, or to the Business Concept and Technology.

In connection with such collaboration of the Business Concept and Technology, and in consideration for a mutually agreeable framework which shall serve as the foundation for the Founders to successfully develop the Business Concept and Technology, the undersigned hereby agree as follows:
Each Founder shall grant and assign to the Company immediately upon its formation all of his or her right, title, and interest in and to the Business Concept and Technology (including all right, title and interest to intellectual property thereto), including all ideas (however formed or unformed) and labor and/or work product that results from any task or work performed by the Founder that relates to the Business Concept or Technology for the full term of such rights. Each Founder shall also perform any and all acts and execute all documents and instruments as may be required by the Company at its sole discretion to perfect title in the Business Concept and Technology, and any related intellectual property.
Any future agreement that requires an ownership interest in the Business Concept and Technology and related intellectual property to be transferred to a third party before the formation of the Company must be agreed upon by each Founder. In the event of such an agreement, the obligations of this Founder Collaboration Agreement must be disclosed to that third party.
Writing Tips
What is a founders agreement?
A founders agreement is a document, involving a company with two or more founders, specifying the details of the development of the company, such as the share of ownership and guaranteed obligations of the different founders.
W
E
Heading
Noto Serif JP
16
Document Structure
1. TRANSFER OF OWNERSHIP TO COMPANY UPON FORMATION
Section 1.1
Section 1.2
Section 1.3
Founders’ Agreement
AMONG THE FOUNDERS OF  PROJECT NAME
The undersigned (each a “Founder” and together the “Founders”) are collaborating with the purpose of developing together a Business Concept related to the following:

 PROJECT NAME is a  PROJECT DESCRIPTION

Founders agree that all related technology to the Business Concept is also owned by the Founders pursuant to this Agreement (together, the “Business Concept and Technology”). As the Business Concept is further developed, Founders intend to transfer the Business Concept and Technology to either a California or Delaware Corporation that shall be formed by the Founders (the “Company”) upon the earliest of the following circumstances:  WHEN THE PROJECT WILL BECOME A COMPANY

Parties agree to transact the Business Concept and Technology through the corporation  OPERATION COMPANY NAME, (the “Operational Company”) a Delaware corporation with a business address of  OPERATION COMPANY ADDRESS. Parties agree that the Operational Company has no rights in, or to the Business Concept and Technology.

In connection with such collaboration of the Business Concept and Technology, and in consideration for a mutually agreeable framework which shall serve as the foundation for the Founders to successfully develop the Business Concept and Technology, the undersigned hereby agree as follows:
Each Founder shall grant and assign to the Company immediately upon its formation all of his or her right, title, and interest in and to the Business Concept and Technology (including all right, title and interest to intellectual property thereto), including all ideas (however formed or unformed) and labor and/or work product that results from any task or work performed by the Founder that relates to the Business Concept or Technology for the full term of such rights. Each Founder shall also perform any and all acts and execute all documents and instruments as may be required by the Company at its sole discretion to perfect title in the Business Concept and Technology, and any related intellectual property.
Any future agreement that requires an ownership interest in the Business Concept and Technology and related intellectual property to be transferred to a third party before the formation of the Company must be agreed upon by each Founder. In the event of such an agreement, the obligations of this Founder Collaboration Agreement must be disclosed to that third party.
Writing Tips
What is a founders agreement?
A founders agreement is a document, involving a company with two or more founders, specifying the details of the development of the company, such as the share of ownership and guaranteed obligations of the different founders.
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