Protect your new startup with a Founder’s Agreement, even before registration
If you’re planning to launch a startup with other partners and do not intend to register your company just yet, then a Founders’ Agreement is pretty much the most recommended legal document to start off with.
A Founders’ Agreement defines the roles and responsibilities of each co-founder, sets the terms and conditions that shall govern their relationship, regulates the management and legal framework of the company, and thus prevents any potential conflict that might arise in the future.
There is a wide range of provisions that could be addressed in a Founders’ Agreement. These include but are not limited to:
- Equity ownership and responsibilities of the parties.
- Role of each party
- Allocation of time
- Business structure
- Management of the company
- Vesting and IP ownership
- Undertakings and warranties of the parties
As there are no provisions under Lebanese law concerning Founders’ Agreements, this document should comply with the general provisions applicable to any agreement or contract in order to be legally binding. These include the sole and free consent of the concerned parties as well as their respective signatures.
To help you streamline your business, our team of legal experts can help review your contract, so