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Do you need to form a corporation before signing a Founders Accord?

Susan Crayne
Member
2 Posts
Posted on: 18-Jul-2016 6:40pm
subject says it all
Susan Crayne
Charles F. McCormick
Member
4 Posts
-1.  Posted on: 15-Aug-2016 11:03am
RE: Do you need to form a corporation before signing a Founders Accord?
Hi Susan,

No, you need not form a corporation before signing a Founder Accord. In fact, one of the benefits of the FA is that it can be a valuable interim step for Founders before they commit to the time and expense of incorporating their business. As we note in the preamble to the Fouder Accord, however, as your business develops, it will be advisable to take the step of incorporating your business. In my mind, that point is often soon after (or maybe even right before) your new business starts engaging with third parties (non-founder developers, consultants, service providers, landlords, etc.).

Best,

Charles

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