A founders' agreement is a document created by the founders of a company to establish how the company will function. It is the product of pre-incorporation discussions that should take place among the company's founders before they establish the company. It includes provisions on ownership structure, decision making, dispute resolution, choice of law, transfer of ownership, ownership percentages, voting rights, intellectual property rights, and more.
Often, yes. Many Convertible Notes are aimed at accredited investors, which means you need a certain level of income or assets. It’s a bit like joining an exclusive club – not everyone can get in without meeting the requirements!
Not quite! There are usually specific events, like a new funding round, that trigger the conversion into equity. Think of it as waiting for the right moment to jump into a pool – timing is everything!