Tech Startups Key Agreements Or Clauses

Other than TTAs, Tech Startups Key Agreements Or Clauses are essential legal agreements that can define the stakes of start-up companies.
In this post, we seek to highlight these agreements, and define the terms and conditions of their agreements.

Tech Startups Key Agreements Or Clauses Highlighted

Founders AgreementThis is perhaps one of the most important details of a startup. Also known as a shareholders agreement, it’s a contract made by founders/co-founders touching on vital issues like ownership structure and rights, decision-making rights, shareholdings, pre-emptive rights, etc.

Service Agreement- This is a contract between a startup and customers, detailing the duties, obligations, rights expected from both parties.

NDAs– Non-disclosure Agreements determine the confidentiality nature of a startup. Here, it’s important to lay down watertight clauses that protect the prized assets and IP of the startup.

Investment Agreement- One of the most decisive agreements Startups may enter into. This touches on the Finance, future and stability of the startup. Here, startups must enter into well-defined terms with investors and potential investors laying out terms concerning risks, liabilities, returns on investment, shareholdings, equity, etc.

Others are Employment Agreement, Indemnity, Warranty Clause

Importantly, every Startup who desires to play in the major leagues must bear in mind that these agreements are standard contracts that must be deftly negotiated. Having professionals with thorough experience and understanding of these key concepts may well define the success or failure of your startup.

Reference

1 Ose Benitie, “Clauses to protect founders in private equity and venture capital deals” available at, https://guardian.ng/features/clauses-to-protect-founders-in-private-equity-and-venture-capital-deals/ accessed on Feb 20 2023

2 Mathew Faustman, “The Top 7 Legal Documents for Every Startup” available at, https://www.entrepreneur.com/growing-a-business/the-top-7-legal-documents-for-every-startup/253997accessed on Feb 20 2023

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