# Co-founder Term Sheet Template (Generator)

Generate a professional term sheet for your co-founder agreement in minutes. Our free tool helps you outline equity splits,
intellectual property rights, and key terms to establish a clear foundation for your startup partnership.

### Project Name

Founder 1 Name

Founder 2 Name

Founder 1 Equity (%)

IP Protection

Non-Compete

Voting Rights

Exit Rights

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## FOUNDER COLLABORATION TERM SHEET

Project: \[Project Name\]

**PARTIES:**
1. \[Founder 1 Name\] ("Founder 1")
2. \[Founder 2 Name\] ("Founder 2")

**KEY TERMS:**

1. Equity Structure
   - Founder 1: 50%
   - Founder 2: 50%

2. Vesting Schedule
   - 4-year vesting period
   - 1-year cliff
   - Monthly vesting thereafter

3. Intellectual Property
   - All IP created during the collaboration will be owned by the company
   - Each founder assigns all relevant prior IP to the company

4. Non-Compete
   - Both founders agree not to compete during involvement and for 12 months after
   - Geographic scope: Worldwide

5. Voting Rights
   - Major decisions require unanimous consent
   - Day-to-day decisions require simple majority

6. Exit Rights
   - Right of first refusal on share transfers
   - Tag-along rights
   - Drag-along rights for majority holders

7. Commitment
   - Both founders commit to working full-time on the project
   - Major time commitment changes require board approval

This term sheet is non-binding except for the confidentiality provisions.

Date: 5/1/2026

**Disclaimer:** This is a template for guidance only. Please consult with legal professionals before finalizing any agreements.