Document background
The Founder Collaboration Agreement is a crucial legal document used when two or more individuals come together to establish and operate a business venture in Nigeria. This agreement is particularly important in the early stages of company formation, serving as a comprehensive framework that governs the relationship between founders while ensuring compliance with Nigerian corporate law, particularly the Companies and Allied Matters Act (CAMA) 2020. It addresses key aspects such as equity distribution, roles and responsibilities, decision-making processes, intellectual property rights, non-compete provisions, and exit mechanisms. The document helps prevent future disputes by clearly defining expectations and obligations, while also providing protection for all parties involved. Such agreements have become increasingly important in Nigeria's growing startup ecosystem, where clear founder relationships are essential for attracting investment and ensuring sustainable business growth.
