The Founder Collaboration Agreement is essential when two or more individuals come together to establish a business venture in Singapore. This document serves as the foundational agreement that governs the relationship between co-founders, establishing clear parameters for ownership, management, and operations. It addresses critical aspects such as equity distribution, vesting schedules, intellectual property rights, and decision-making processes. Under Singapore's legal framework, this agreement helps prevent future disputes by clearly documenting the founders' intentions and obligations. It's particularly crucial in the startup ecosystem where clear alignment between founders is essential for securing investment and ensuring sustainable growth.
Founder Collaboration Agreement for Singapore
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Key Requirements PROMPT example:
Founder Collaboration Agreement
"I need a Founder Collaboration Agreement for a Singapore-based fintech startup with three co-founders, where two founders will contribute technical expertise and one will provide initial capital of SGD 500,000, with a 4-year vesting schedule starting March 2025."
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1. Parties: Identification and details of all founding parties
2. Background: Context and purpose of the collaboration
3. Definitions: Key terms used throughout the agreement
4. Roles and Responsibilities: Detailed description of each founder's duties and commitments
5. Equity Structure: Share allocation and vesting arrangements
6. Decision Making: Voting rights and governance structure
7. Intellectual Property: IP ownership, assignment, and protection
8. Confidentiality: Protection of confidential information
9. Term and Termination: Duration and grounds for termination
1. Non-Compete: Restrictions on competitive activities during and after collaboration
2. Employment Terms: Employment conditions if founders are also employees of the company
3. Funding Commitments: Initial capital contributions and future funding obligations
4. Dispute Resolution: Specific mechanisms for resolving disagreements between founders
1. Schedule 1: Business Plan: Detailed business strategy and objectives
2. Schedule 2: IP Register: List of existing IP and ownership details
3. Schedule 3: Vesting Schedule: Detailed equity vesting timeline and conditions
4. Schedule 4: Initial Contributions: List of assets, capital, or resources contributed by each founder
5. Appendix A: Key Performance Indicators: Metrics for measuring founder performance
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