A Founder’s Agreement is a legally binding contract between the founders of a business. It sets out the founding principles and expectations, as well as the respective rights, obligations and responsibilities that each founder has to the business. It should also outline the rules for decision-making, the division of authority and the ownership structure. The agreement should be written in plain language so that it can be understood by all parties involved. Ultimately, it helps provide stability, transparency and clarity to the founding team, and should be reviewed and updated as needed.