Y Combinator Co Founder Agreement

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The agreement of your founders should list whether one of the founders contributes personal funds to the company and describes the terms of use of the capital. In order to demonstrate its commitment and protect valuable business information, your FA should also include a standard confidentiality clause. Kevin: Well, if you haven`t registered as a company, there are no actions that you can technically challenge. And it`s just about work. The only legal thing that could be difficult is that, there was an understanding that people should be paid for their work or not, but I take, there are probably no contracts at all. And that`s the other thing that people sometimes run into problems with their co-founders. That`s the way it is, oh, we were working on it, but we didn`t pay. And when someone gets angry and leaves, they have paid themselves a minimum wage. And then he has a good reason to say how, hey, I wasn`t paid for the work I did. I take it, no contract has been signed.

It`s not too early to fix all of this so you can protect yourself. In any case, you want things like vesting and a clear understanding of the relationship between the founders and understand how, who owns the equity, who is the CEO, who makes the final decision? In this way, it will prevent future things from creating problems. YC Partner Harj Taggar gives tips on finding the right co-founder for your start-up. This conference was conducted for the future founding track of the Startup School 2020. Another point I would just like to address on this subject is, if you are trying to see if someone has complementary abilities to you, do not go into too much detail, how to properly make your card skills to this specific idea that you are working on. A common example of this is that sometimes someone plans to hire a technical co-founder. And they want to build an iPhone app. But the co-founder, although they know them, they trust them, they have already collaborated with him, that the co-founder is not necessarily an iPhone app developer, they have not developed iPhone applications in the past. That`s no reason to exclude someone as a co-founder, that`s true. The important thing is that they are ready to learn what they need to learn. So if they`re not iPhone developers, they`re willing to learn how to do it.

And most importantly, they`re willing to learn things that may not be glamorous, as startups are often just a grumpy job much more boring to get this thing moving forward. And as long as you have a co-founder who goes well with that, it`s perfectly normal that they don`t have the perfect skills. So doesn`t rule out someone who is potentially a great co-founder because he doesn`t have that checklist of specific skills they`re looking for. But make sure you count them if it`s someone you trust, with whom you like to work, you have a good idea of how they will handle the stress and travel pressure of start-ups. The second reason is moral support. Startups are an incredibly intense and arduous journey. And it`s great to have someone to lean on in difficult times. And what I`ve noticed with the best co-founder relationships is that they have this dynamic in which the two co-founders balance in one way or another. So when a founder has a bad day, he feels a little down, desperate, and they`ve become a little pessimistic and they feel like the startup is about to die, the other co-founder can only help them raise them a little, spin them and motivate them.