Skip to main content

Our Rulebook

Key Legal Clauses and Operating Procedures

Corporate Governance​

Coming Soon: Essential clauses that govern how our company operates and makes decisions.

Board of Directors​

  • Board Size: [Number] members
  • Founder Seats: [Number] seats
  • Investor Seats: [Number] seats
  • Independent Seats: [Number] seats

Board Meetings​

  • Regular Meetings: [Frequency]
  • Special Meetings: [Process for calling]
  • Quorum Requirements: [Percentage] of board members
  • Voting Rights: [Description of voting procedures]

Board Committees​

  • Audit Committee: [Purpose and composition]
  • Compensation Committee: [Purpose and composition]
  • Nominating Committee: [Purpose and composition]

Decision-Making Authority​

Founder Decisions​

  • Day-to-day operations: [Authority level]
  • Hiring decisions: [Authority level]
  • Budget approvals: [Authority level]
  • Strategic decisions: [Authority level]

Board Decisions​

  • Major financial decisions: [Threshold amounts]
  • Equity grants: [Approval requirements]
  • Strategic partnerships: [Approval requirements]
  • Exit transactions: [Approval requirements]

Investor Rights​

  • Information rights: [Reporting requirements]
  • Inspection rights: [Access to records]
  • Approval rights: [Veto powers]
  • Tag-along rights: [Sale participation]

Financial Provisions​

Capital Structure​

  • Authorized shares: [Number] shares
  • Issued shares: [Number] shares
  • Reserved shares: [Number] shares
  • Option pool: [Percentage] of company

Dividend Policy​

  • Dividend declarations: [Process and requirements]
  • Preferred dividends: [Terms and conditions]
  • Dividend preferences: [Priority order]

Liquidation Preferences​

  • Preferred liquidation: [Multiple and terms]
  • Participation rights: [Full or non-participating]
  • Conversion rights: [Terms and conditions]

Transfer Restrictions​

Right of First Refusal​

  • Transfer notice: [Process and timeline]
  • Company right: [Terms and conditions]
  • Founder right: [Terms and conditions]
  • Investor right: [Terms and conditions]

Drag-Along Rights​

  • Trigger threshold: [Percentage] of shares
  • Notice requirements: [Timeline and process]
  • Excluded transfers: [Types of exempt transfers]

Tag-Along Rights​

  • Sale participation: [Terms and conditions]
  • Notice requirements: [Timeline and process]
  • Price protection: [Terms and conditions]

Employment Provisions​

Non-Compete Agreements​

  • Geographic scope: [Coverage area]
  • Time period: [Duration of restriction]
  • Business scope: [Types of restricted activities]
  • Enforcement: [Remedies and penalties]

Non-Disclosure Agreements​

  • Confidential information: [Definition and scope]
  • Return of materials: [Process and timeline]
  • Enforcement: [Remedies and penalties]

Intellectual Property Assignment​

  • Work for hire: [Terms and conditions]
  • Assignment requirements: [Process and documentation]
  • Invention disclosure: [Process and timeline]

These key clauses form the legal foundation of our company and must be carefully maintained and updated as we grow.