Founders’ rights Clause Samples
The Founders Rights clause defines the special privileges, protections, or entitlements reserved for the original founders of a company. Typically, this clause may grant founders certain voting rights, board seats, or veto powers over key business decisions, and can also include provisions that protect their equity from dilution or ensure their continued involvement in the company. By establishing these rights, the clause helps safeguard the founders' influence and interests as the company grows and new investors or stakeholders become involved.
Founders’ rights. Nothing in this Agreement shall limit or otherwise affect the rights of the Founders, as faculty members of the University of Colorado and as the inventors of the Inventions, to receive a portion of the revenues derived from the Inventions or Licensed Intellectual Property; and none of such rights of the Founders shall limit or otherwise affect the payment of Royalties [*] to Licensor hereunder; provided, however, that the Founders shall not have any right to receive any portion of the profits, if any, that may be realized by Licensor upon the sale or other disposition of Licensor’s Equity Shares.
Founders’ rights a) In the event that Major Chemical is liquidated, ▇▇▇▇▇▇▇ ▇▇▇▇▇ shall have the right to receive the following items as part of her distributive share:
I. The name Major Chemical;
II. The right to continue to use Major Chemical’s place of business, equipment, advertising and letterhead; and
III. The right to all other intellectual property and goodwill of Major Chemical.