We’ve talked about what can go wrong when you’re an entrepreneur who fails to get a basic agreement in place with your co-founders. Shake now offers a simple template for such an agreement, the Founder Accord.
The Founder Accord provides early stage entrepreneurs with a written record of the founding team’s roles and responsibilities in creating their new business. It serves as a valuable reference point to clarify expectations and can help avoid founder disputes.
Among the things the Founder Accord covers are:
- Company Name
- Business Idea
- Equity Stakes
- Job Titles
- Board of Directors
- Ownership Stakes
- Vesting Schedules
- Founders’ Commitments
- Expected Salary and Compensation
- Confidentiality Requirements
- Dispute Resolution
The Founder Accord was developed by McCormick & O’Brien, a New York law firm. Read more about the thinking behind the Accord here.
For free access to the Founder Accord, please visit here.