This document defines key terms related to business formation and operation. It explains vesting shares as shares owned even after leaving a company, and change of control provisions giving rights related to ownership changes. It also defines trigger events, capital contributions, reimbursement, founders' roles and responsibilities, confidentiality, non-competition, warranties, dissolution, dispute resolution, representations, unjust enrichment, intellectual property, equity distribution, and vesting.
This document defines key terms related to business formation and operation. It explains vesting shares as shares owned even after leaving a company, and change of control provisions giving rights related to ownership changes. It also defines trigger events, capital contributions, reimbursement, founders' roles and responsibilities, confidentiality, non-competition, warranties, dissolution, dispute resolution, representations, unjust enrichment, intellectual property, equity distribution, and vesting.
This document defines key terms related to business formation and operation. It explains vesting shares as shares owned even after leaving a company, and change of control provisions giving rights related to ownership changes. It also defines trigger events, capital contributions, reimbursement, founders' roles and responsibilities, confidentiality, non-competition, warranties, dissolution, dispute resolution, representations, unjust enrichment, intellectual property, equity distribution, and vesting.
Change of control Trigger event Capital contribution Reimbursement Roles and responsibilities of founders Confidentiality Non-competition Warranties Dissolution Dispute resolution Representations Explanation Vested shares mean shares that you own, even if you're fired or you quit. They're a form of compensation. A provision in an agreement giving a party certain rights (such as consent, payment or termination) in connection with a chan A trigger event is any occurence that creates an opening for a marketing or sales opportunity. Capital contribution is an amount of money or assets given to a business or partnership by one of the owners or partners. The Reimbursement is the act of compensating someone for an out-of-pocket expense by giving them an amount of money equal The clause for roles and responsibilities includes and determines in detail all the functions as well as responsibilities of the fou A clause, especially in a contract of employment, that says you must not give other people or companies private information a Under the non-compete clause the parties agree not to enter into or start a similar trade or profession in competition against A warranties clause provides a guarantee or promise which provides assurance by one party to the other party that specific fa The process by which a company is brought to an end. Dispute Resolution processes are used to resolve disputes among the parties, including negotiation, mediation and arbitration A representation is an assertion as to a fact, that is given to induce another party to enter into a contract or to take some othe he agreement.
equity interest in the entity.
Keyword/Phrase Unjust enrichment Explanation Unjust enrichment occurs when one person is enriched at the expense of another in circumstances that the law sees as unjust Keyword/Phrase Intellectual Property Equity distribution Vesting Explanation A category of property that includes intangible creations of the human intellec, primarily includes of patents, trademarks, copy All the assets and liabilities of the company/business as well as the profits and losses incurred shall be equally distributed amo Process by which authority, benefit, or privilege, or rights to or interest in an asset or property, passes unconditiona