Co-Founders Agreement (LLP)
For 2 or more co-founders starting a business as an LLP — covering vesting, capital contribution, IP assignment, and what happens if a founder leaves early.
- Vesting schedule with Good Leaver / Bad Leaver classification
- Reserved Matters requiring unanimous consent, clearly listed
- IP assignment for perpetual, worldwide rights — not the 5-year default
- Non-compete drafted narrowly, with an honest note on its real enforceability limits
Founders forming an LLP
2 or more co-founders setting up a Limited Liability Partnership, wanting the relationship terms recorded before or alongside formal incorporation.
Existing founders formalising terms
Already working together informally, ready to put vesting, roles, and exit terms in writing before a dispute makes it harder to agree.
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1. Update the jurisdiction. This template is drafted with placeholder city/state fields — replace them with your own business's actual location, not any example city shown in the document.
2. Print on valid stamp paper. This PDF is a drafting template, not an executable legal document on its own. Under the Indian Stamp Act, most agreements need to be printed on physical stamp paper (or e-stamped) of the correct value for your state before signing — an unstamped agreement may be inadmissible as evidence until the deficiency is paid. Confirm the correct stamp duty and process for your state before execution.