A founder agreement is a contract between the founders of a company that outlines their roles, responsibilities, and ownership percentages in the company. The agreement also includes provisions for what happens if a founder leaves the company, such as vesting schedules for their stock.
Note: Working on a legal issue? Try our AI Legal Assistant - It's free while in beta 🚀Use our legal assistant
There are a few things you will need to do when starting a business in the UK:
1. Choose a business structure - this will determine what legal documents you will need. For example, if you are setting up a limited company, you will need to register with Companies House and file certain documents.
2. Register your business - you will need to register your business with HMRC and other relevant authorities.
3. Get a business bank account - you will need to open a business bank account in order to separate your personal and business finances.
4. Draw up contracts - if you will be working with clients or customers, it is important to have contracts in place. This will protect both parties and ensure that everyone is clear on what is expected.
5. Comply with regulations - there are various regulations that businesses need to comply with in the UK. For example, you will need to have employer's liability insurance if you have employees.