A founders’ agreement or a Co-founders agreement isa form of contact between the first owners of an entity. The document entails also essential details regarding the responsibilities, duties, rights, ownership, etc. of the founders. This agreement is drafted and executed usually at the time of incorporation. It helps remove any ambiguity or provide swift resolve to a conflict that may arise in the future.
It is ideal to have a co-founder’s agreement as it also pushes the drive towards achieving the goals and objectives of the company as it clearly demarcates the role and responsibility of each founder in the company.