Founders’ agreement governs the founders’ relations vis-a-vis each other and the company. It is one of the first agreements to be signed by the founders and it regulates, among other things, the role and responsibilities of each founder, their obligation not to compete with the company, and not to disclose its business secrets. It also regulates what happens to the founder’s shares if a founder leaves the company during an agreed period (so called reverse vesting provisions).
Startup Estonia – creator of the model documentsStartup Estonia is a governmental initiative aimed to supercharge the Estonian startup ecosystem in order to be the birthplace of many more startup success stories to come. For that, we are working on making Estonia one of the worlds best places for startups, partnering with and uniting the best of startups, incubators, accelerators, private and public sector. SEs goals include strengthening the Estonian startup ecosystem, co-organising impactful startup events, working on educating the local investors and attracting foreign investors to Estonia, as well as Working on eliminating regulative issues and barriers that are complicating the process of operating a startup, investing or raising funding in Estonia, and implementing startup friendly regulations such as the Startup Visa (reference: https://startupestonia.ee/about).Startup Estonia model documents are created by: Ellex Raidla, Cobalt, Eversheds Sutherland, Hedman Partners, TGS Baltic, Sorainen, Fort Legal, Triniti and Njord (reference: https://startupestonia.ee/resources).Valter Võhma – creator of the expert’s commentsAll expert’s comments to the Startup Estonia model documents have been prepared by Valter Võhma from TRINITI. He has added his comments to all the relevant sections in order to help the users to better understand the terms and conditions of the documents. Valter Võhma is a highly valued expert in the start-up sector, advising founders, startups and investors in a variety of matters ranging from general topics like shareholders’ agreements, option plans, etc to complex fundraising transactions, restructuring and exits. Valter also advises private equity and venture capital deals, including setting up investment vehicles, and merger and acquisition transactions. He is also a member of the Startup Estonia legal committee and the Estonian Business Angels Network.
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