Founders Agreement South Africa

1.13. Any reference to a party in this agreement, if that party is liquidated or seized, also applies to the liquidator or agent of that party, if that party may be, and engages it with respect to that party. In creating a foundation contract, there are two steps that founders or co-founders must undertake: 4.3. Shareholders take the necessary steps to amend the memorandum and the company`s by-law so that they are in accordance with the provisions of this agreement. 4. Necessary actions. As soon as it is established by a simple majority that the Corporation is incorporated and created, each founder of the company grants and enters into force immediately after its creation the fullty of its right, property and interest in the product or service (including all rights, titles and interests of intellectual property, including all rights, titles and interests of intellectual property , including the waiving of all moral rights and the awarding of all patents, industrial designs, trademarks, trademarks, copyrights, trade secrets, ideas (though trained or uneducated) and work products resulting from a work or work related to the product or service, for the duration of these rights (transmission”). This transfer is made in accordance with a confidentiality agreement and transfer of intellectual property in favour of the company. Any founder will make such a transfer without being entitled to compensation, in any way, at the time of the transfer and at a later date. Each founder must also perform all acts and perform all documents and instruments that the Corporation requires at its sole discretion in order to perfect the title in the transfer to the product or service and all related intellectual property rights (the “necessary acts”). 11.2.

Any notification or notification required or admissible for the purposes of this Agreement is valid only if it is written, but it is authorized to communicate it by fax or email. IR is not an agreement, but is accepted by shareholders. Only 75% of shareholders are obliged to accept them or make changes. On the other hand, a shareholders` pact requires 100% of shareholders to accept or make changes to the agreement; 8. Vesting. The founding capital to be transferred to Section 6 is the responsibility of each founder [ENTER NUMBER OF YEARS FOR VESTING] and each founder concludes, on its founding date, a customary share restriction agreement that describes such ing: there are four main reasons why startups desperately need a founding agreement: one of the things startups urgently need to do , what many do not have to do until it is often too late is honest discussions. Assumptions are dangerous for a startup. Do not leave a stone on the other, otherwise one of the founders or co-founders would sooner or later throw the first stone.

4.2. The provisions of this Agreement prevaltely in any contradiction between the provisions of this Agreement and the Memorandum or Statutes of the Society. 18. Representations and guarantees. Each founder assures and guarantees that he or she will not participate in another agreement that would limit the founder`s ability to fulfill his or her obligations under this agreement. Each founder assures and guarantees that no third party can assert intellectual property or other property rights that the founder holds with respect to the product or service.