Still putting off those founding agreements? Here’s how it can cost you

2012-11-30 00:00

OUR law practice deals with a lot of startups — we love working with innovative, entrepreneurial teams of people. But we also, sadly, get to see some startups implode because their founders put off doing some of the boring-but-critical foundation work like drafting a careful, appropriate founding agreement (including a memorandum of incorporation and/or shareholders’ agreement).

But he still holds a third of the shares, so he’s fully entitled to his third of dividends.

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