The project is just another way of saying “your startup.” In this section, you should describe one or two sentences describing what you are doing. It should have an overview of what you are doing, as well as some peculiarities that are special for your startup. Imagine the large part as your elevator distance and peculiarities like what you would say to another geek who asks for more details about what you create. The last thing to keep in mind is not so beautiful — but it is important. And it is a non-competition clause or a confidentiality clause. These documents ensure that you and your co-founders cannot advise you on your competitors – or even become a competitor. It`s probably not something you want to think about in the heady beginnings of a startup, but it`s worth launching a plan, just in case. “I started a business with four founders and we didn`t define roles,” writes remote work expert Jason Lengstrof. “What happened in the end was that a person didn`t do anything that didn`t interest him, a person would start a series of tasks and do them half-finished for someone else, and one person was only able to manage the process-based work, which the fourth person (me) left to do the rest (and write the lawsuits). It fuelled resentment and made it very difficult to adapt roles in the future, because it was found that I could do anything and therefore I became the last point of responsibility, even though we had defined new roles afterwards. Our only way out was to sell the business. You can find several free models on Docracy for free. 1.

Choose a model There are patterns throughout the Internet, including at the end of this article. Choose the one that works best for your startup or create your own with pieces from different models. The goal is to create a founding agreement that best matches yours, your co-founders and the needs of your startup. And while legal rhetoric could be intimidating, don`t worry about it yet. We will deal with this issue in Stage 4. This should only be completed after the addition of a new founder. Who can vote on business decisions? Who hasn`t? Which parties can they vote on? Some startups grant voting rights based on a member`s percentages, while others choose to grant limited voting rights to certain groups. They may also grant veto rights, but no voting rights; The super-majority s. Votes; or even management rights, but no voting rights. 6. Check and sign! Finally, you give each of your co-founders time to check their copy of the foundation agreement, consult their lawyers, if necessary, and then sign and date. Once signed and dated by everyone, it is a legally binding document.

Be sure to record an electronic copy with all the signatures your entire team can access so you can get them later. Although there is no formal structure for a founder`s agreement, here are some things you should consider urgently, including in your. If you`re holding on to this step because you`re not sure how you should name your start-up, read our guide to choosing a name for your start-up.