In some cases, it would be appropriate to include the clause in the incubation agreement, which specifies how startup creators can spend the money received from the incubator/accelerator/investor to compensate for any penalties for improper expenses. In this case, it is also important to agree on the powers of the shareholders` meeting and specify the issues requiring a 100% quorum and unanimous agreement. According to the incubation agreements, startup creators commit to transferring all intellectual rights of their project to the company supposedly. Startup creators should actively participate in the completion and approval of their incubation and project programs, which define the main stages of the incubation and compliance criteria that are contained in incubation agreements or separate documents and are linked to the amount of funds invested in a startup at a certain stage of an incubation program. Therefore, if you decide to terminate the incubation contract in the second phase of the third stage of incubation, you or your incubator will receive the company according to what you have agreed in writing. If the acceleration is at the stage where investors are sought and investment agreements are concluded, it is important to include anti-dilution provisions in these agreements, in addition to all the aforementioned provisions, and to provide the best possible option, that is: if the value / quantity of the investor`s shares remains the same during all funding cycles or adjusted according to the variation ratio. If there are two founders in a team (developers and designers), each of them owns the rights to the software and design. To manage these rights, you must collect them and transfer them to the other party. Thus, the founders undertake to transfer all IP rights to a company created under the incubation contract.
These include the situation in which a startup, for example, commissions a photographer or cameraman to record the video: you must also sign the agreement to transfer rights to a company. For startup creators, their IDEA is all that matters, and all the bureaucracy in transferring IP rights doesn`t seem that important. I can only agree. However, some seemingly insignificant documents may prove to be an important point of disagreement in every agreement. You know, life can throw you a curveball at any time. So imagine wrapping up your business after receiving a notification from the cyber police claiming that you may have hacked public Wi-Fi at the airport. In this case, in addition to your insomniac eyes and fear, you have another problem. Even if you own 50% of the company`s shares, it can only be settled if 100% of the shares vote for it.
The same goes for restrictions on transactions. For example, you are a start-up creator with a majority stake and you want to buy a data center for 1 million UAH. Unfortunately, you will not be able to do this if the shareholder agreement contains the clause stating that all transactions over 1000 UAH should be approved by the unanimous agreement of all shareholders. You can, however, ensure that these details are defined in your incubation agreement.. . .