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A founders agreement is a critical agreement made by individuals coming together with an idea to form a company at the early stages of its lifecycle. It sets out rights, responsibilities, and rules for the founders to avoid future problems. Key provisions to include in a founders agreement are the roles and responsibilities of each founder, ownership of intellectual property, decision-making processes, equity distribution, dispute resolution, and conditions for the departure of founders. It is crucial to have frank discussions and clear communication among founders when drafting this agreement.