Founders Agreement Template – Canada

Legal Documentation Notice

The information provided here is intended solely as a general example for understanding the terms and conditions typically associated with agreements among founders. It does not serve as legal advice and should not replace consultation with a qualified attorney experienced in corporate formation and partnership agreements. Legal requirements can vary by jurisdiction, and adaptations may be necessary to ensure compliance. The use of this example is at the user’s own risk, and no liability is assumed for any errors, omissions, or consequences resulting from its use without professional legal review.

Please note: This is a sample Founders Agreement for California, provided for illustrative purposes only. Actual terms may vary based on specific agreements and applicable laws.

Sample Founders Agreement (California)

Introduction:

This Founders Agreement (“Agreement”) is entered into by and among the founding members of [Company Name], located in California, to establish the terms and conditions governing their relationship, contributions, and ownership rights.

Parties:

Founder 1: Alice Johnson
Address: 123 Main Street, Los Angeles, CA 90001

Founder 2: Bob Smith
Address: 456 Elm Street, San Francisco, CA 94102

Equity and Contributions:

The founders agree to contribute capital, intellectual property, and time as detailed herein, with ownership percentages as follows: Alice Johnson – 50%, Bob Smith – 50%.

Roles and Responsibilities:

Each founder shall perform duties as agreed upon, and shall devote necessary time and resources to the development of the company in accordance with this Agreement.

Confidentiality & Non-Compete:

Founders agree to maintain confidentiality of proprietary information and shall not engage in competing businesses during the term of this Agreement and for a specified period thereafter.

Governing Law:

This Agreement shall be governed by the laws of the State of California. Disputes shall be resolved in the courts of California.

Additional Provisions:

• Any amendments must be made in writing and signed by all founders.
• In the event of a dispute, founders agree to pursue binding arbitration in California.
• Intellectual property contributed or developed during the partnership shall be owned as specified herein.

San Francisco, ______________________