175+ Lawyers are online 
Planning a startup can we prepare a legal agreement between partners
03-Dec-2023 (In Startup Law)
Dear Sir / Madam , I'm involved in a start-up, at present i am associated with a MNC company with good pay, as m leaving the company for start-up where investment and idea is basically is my friends, and Bussiness development will be my responsibility as of now company will be proprietary ( My Friend as complete sole proprietor ), but i was offered a part ownership in early discussion ( Verbal ), is it advisable to sign a legal agreement, my concern is since company being a proprietary if we sign a agreement will it hold good ?? and what percentage of company should one expect ?
It is very important to pen down all the understanding between the co-founders as the main purpose is not to bind anyone or hold an axe over the other but to maintain the relation and the understanding. Start-ups usually think that these agreements strain the relations with each other but the whole purpose is that the relations and friendship do not get strained. The reason I wrote all this is because we have dealt with many start-ups and we know how they think and feel. Legally it is an absolute requirement.
22+
Adv. Kanishk Agarwal
Delhi | 100+ Answers
CONTACT NOW
In such a case, you would only be treated as an employee of the organisation and would for all practical purposes have the rights of an employee. Another agreement providing for terms does not sound feasible.
23+
Adv. Abhimanyu Jhamba
Delhi | 25+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
