Consult an Expert

Talk to a Chartered Accountant

Talk to a Company Secretary

Talk to a IP/Trademark Lawyer

Business Setup

Prefer to talk to a business advisor first?

Book a call back

Tax & Compliance

Prefer to talk to a business advisor first?

Book a call back

Trademark & IP

Prefer to talk to a business advisor first?

Book a call back

Documentation

Prefer to talk to a business advisor first?

Book a call back

Others

Prefer to talk to a business advisor first?

Book a call back

Consult an Expert

Business Setup

Tax & Compliance

Trademark & IP

Documentation

Others

Consult an Expert

Talk to a Lawyer

Talk to a Chartered Accountant

Talk to a Company Secretary

Talk to a IP/Trademark Lawyer

Business Setup

Tax & Compliance

GST and Other Indirect Tax

GST Cancellation and Revocation

Indirect Tax

RoDTEP

Changes in Pvt Ltd Company

Add a Director

Remove a Director

Increase Authorized Capital

Close the Pvt Ltd Company

Strike off Company

Change Objective/Activity

Change Address

Changes In Limited Liability Partnership

Add Designated Partner

Changes to LLP Agreement

Close the LLP

Mandatory Annual Filings

Annual Compliance Services

LLP Annual Filings

Secretarial Audit

Labour Compliance

Provident Fund (PF) Registration

ESI Registration

Professional Tax Registration

Shops and Establishments License

Employee Stock Option Plan [ESOP]

POSH Compliance

Labor Law Advisor

Accounting & Tax

Accounting and Book-keeping

TDS Return Filing

Individual Income Tax Filing

Proprietorship Tax Return Filing

ITR for LLP

Corporate Tax

Income Tax Assessment

Income Tax Notice

Virtual CFO

Convert Your Business

Proprietorship to Pvt Ltd Company

Compliance Check - Secretarial Audit

Due Digilence

RBI Compliance

Convert Partnership into LLP Company

Convert Private into Public Limited Company

Convert Private into OPC Company

Others

Fundraising

NGO Registration

NGO Compliance

Property

Property Title Verification

Property Registration

Rera Complaint

Licenses & Registrations

Gun License

Name Change & Other Conditiions

Name Change

Religion Change

Gender Change

File an e-FIR

Online Police Complaint

Marriage

Marriage Registration

Court Marriage

Mutual Divorce

Divorce Alimony

Restitution of Conjugal Rights

Immigration

Corporate immigration

Family immigration

College immigration

File a Consumer Complaint

Online Consumer Complaint

E-Commerce Consumer Complaint

Insurance Consumer Complaint

Lawyer Services

Labour Law Advisor

Criminal Lawyer

Labour Lawyer

Consumer Court Lawyer

Intellectual Property Lawyer

Trademark Lawyer

Reply to ITR Notice

Expert Services

Technology, Media and, Telecom (TMT)

Risk Management and Regulatory Risk

Attention: File MGT 7/7A by Nov 29 to stay penalty-free! Talk to our expert

Now you can read this page in Hindi. Change language to हिन्दी

Make the Perfect Founders Agreement with Vakilsearch

FAQ's on Make the Perfect Founders Agreement with Vakilsearch

Is it mandatory to get this form of agreement drafted?

Yes it is mandatory to get this form of agreement drafted, as it negates the possibility of getting ousted from the entity without proper exit clauses. Apart from this, the founders agreement would also have provisions related to the responsibilities of the founders.

Does this form of agreement have legal enforceability?

Yes such an agreement would have enforceability. When such an agreement is notarised on a non-judicial stamp paper and the requisite fee is paid the agreement would be enforceable in courts.

What is the need to make a founders agreement?

The founders agreement will restrict co-founders from engaging with other employment opportunities, even if they are relieved or ousted from the company.

Is there any penalty for breaching the founders agreement?

Yes, but it depends on the severity of the dispute! For example, the shares of the co-founder will be vested with the company if he violates or breaches the agreement.

What is the difference between founders agreement and partnership agreement?

A founders agreement is a legal document that outlines the roles, responsibilities, and ownership of the co-founders of a company.An official contract known as a partnership agreement spells out the obligations, rights, and ownership of two or more partners who are running a business together. While both agreements cover similar areas, founders agreement is typically used in the context of a startup or new venture, while a partnership agreement is used in the context of an ongoing business partnership.

Can a company have both founder and co-founder?

Yes, a company can have both a founder and a co-founder. A founder is someone who is involved in the creation and early development of a company, while a co-founder is someone who shares the responsibilities and ownership of the company with the founder(s).

Is the founder and owner the same?

No, founder and owner are not the same. A founder is someone who is involved in the creation and early development of a company, while an owner is someone who has legal ownership of the company. While a founder can also be an owner, it's possible for a founder to give up or sell their ownership in the company.

What's the difference between partner and founder?

A founder is someone who is involved in the creation and early development of a company, while a partner is someone who is conducting a business with one or more individuals. While a founder may have partners, the term 'founder' is typically used in the context of a startup or new venture, while 'partner' is used in the context of an ongoing business partnership.

Trusted by 400,000 clients and counting, including …

TOOLS