Document background
The Co-Founder Exit Agreement is a crucial document used in Australian business contexts when one of the founding members decides to leave or is required to exit the organization. This agreement is essential for protecting both the company's and all parties' interests during this significant transition. It must comply with Australian corporate law, particularly the Corporations Act 2001, and addresses key aspects such as share valuation and transfer, intellectual property rights, confidentiality, non-compete provisions, and ongoing obligations. The document is typically required when there's a mutual decision for separation, forced exit, or strategic restructuring, and it helps prevent future disputes by clearly documenting all terms of the separation. It's particularly important in startup environments and growing companies where founding members' roles and responsibilities need to be clearly defined and separated.
