Start-up ventures are drivers of today’s economy and allow creators and businesspeople across the globe to share their innovative ideas with the world. But a great idea and enthusiastic partners are not enough—to create the best conditions for success, entrepreneurs need to ensure their businesses start off with a strong legal foundation.
The International Chamber of Commerce (ICC) provides foundational model contracts for start-ups that will save companies time and legal costs when negotiating and drafting agreements with investors and employees.
The package of model documents includes a model term sheet, model shareholders agreement, model directors services/management agreement, model employment agreement, model confidentiality agreement and a checklist on intellectual property rights.
The models can be adapted to fit the particular circumstances of the transaction and will allow young businesses to engage legal counsel at a later stage in the process, to help finalise the contracts in accordance with local requirements.
Each ICC Model Contract includes a fully editable version in Microsoft Word, permitting you to easily adapt the contract to your specific case.
| Code ISBN : | 978-92-842-0673-5 |
| Number of pages : | 93 |
| Publishing date : | 2024 |
| Language : | English |
| Format in cm : | 21*29.7 |
Foreword..... 7
Introduction..... 8
Term Sheet..... 9
Article 1 Subject matter of the Investment..... 9
Article 2 The Parties.... 10
Article 3 Business/Project/Use of proceeds..... 10
Article 4 Purpose of the Term Sheet..... 10
Article 5 Investment..... 11
Article 6 Contractual documentation..... 11
Article 7 Governance and management of the Company..... 11
Article 8 Reserved Matters..... 12
Article 9 Information duties..... 12
Article 10 Exit from the Company..... 13
Article 11 Anti-dilution..... 13
Article 12 General dividend payout...... 13
Article 13 Liquidation Preference...... 13
Article 14 Key People...... 13
Article 15 Lock-Up Period...... 14
Article 16 Exclusivity...... 14
Article 17 Time Schedule and Costs...... 14
Article 18 Resolution of Disputes...... 15
Article 19 Applicable Law...... 15
Annex 1 Cap Table...... 16
ICC Model Shareholders Agreement for Start-Up Companies...... 17
Article 1 Definitions and Interpretation...... 18
Article 2 Representations and warranties...... 20
Article 3 Investment..... 21
Article 4 Incorporation and Articles of Association..... 22
Article 5 Ownership and Share retention..... 22
Article 6 Transfer of Shares..... 23
Article 7 Governance and management of the Company..... 28
Article 8 Dividend policy..... 31
Article 9 Termination & liquidation of the Company..... 31
Article 10 Term and Termination..... 32
Article 11 Miscellaneous..... 32
Article 12 Resolution of Disputes...... 34
Article 13 Applicable Law..... 35
Article 14 Authentic Text..... 36
Annex 1 Cap Table..... 37
Annex 2 Articles of Association of the Company..... 38
Annex 3 Form of Deed of Adherence...... 39
Annex 4 ICC Confidentiality Clause 2016...... 41
Annex 5 Intellectual Property Rights and Works..... 43
ICC Model Directors Services/Management Agreement..... 44
Article 1 Purpose..... 45
Article 2 Method of providing Services..... 45
Article 3 Compensation for Services rendered..... 46
Article 4 Term and Termination of the Agreement..... 47
Article 5 Confidentiality..... 47
Article 6 Post-Contractual Non-Competition Covenant..... 48
Article 7 Assignment of Intellectual Property rights..... 48
Article 8 Notices..... 50
Article 9 Assignment...... 50
Article 10 Other Provisions...... 50
Article 11 Resolution of Disputes...... 50
Article 12 Applicable Law...... 51
Article 13 Parties’ Independence...... 52
Article 14 Anti-Bribery and Anti-Corruption...... 52
Annex 1 Fee to be paid to Consultant...... 53
Annex 2 ICC Confidentiality Clause 2016...... 54
Annex 3 ICC Anti-corruption Clause...... 56
ICC Model Employment Agreement...... 57
Article 1 Commencement of Employment...... 57
Article 2 Job Title...... 58
Article 3 Place of Work...... 58
Article 4 Salary..... 58
Article 5 Working Hours and Procedures..... 59
Article 6 Holidays...... 59
Article 7 Incapacity..... 59
Article 8 Termination and Notice Period..... 59
Article 9 Disciplinary and Grievance Procedures..... 60
Article 10 Data Protection..... 60
Article 11 Changes to Your Terms of Employment...... 60
Article 12 Confidentiality..... 60
Article 13 Restrictive Covenant..... 60
Article 14 Company Property..... 61
Article 15 Anti-Bribery and Anti-Corruption..... 61
Article 16 Third Party Rights..... 61
Article 17 Applicable Law.... 62
Article 18 Resolution of Disputes..... 62
Article 19 Acceptance..... 62
Annex 1 Job Description..... 63
Annex 2 ICC Confidentiality Clause 2016.... 64
Annex 3 ICC Anti-corruption Clause..... 66
ICC Model Confidentiality Agreement.. 67
- Introduction..... 67
- ICC Model Confidentiality Agreement..... 69
Article 1 Definitions..... 69
Article 2 Definition of Confidential Information..... 69
Article 3 Obligation to keep confidential and restrictive use..... 70
Article 4 Exclusions from obligation to keep confidential and restrictive use..... 70
Article 5 Copies..... 70
Article 6 Refusal..... 70
Article 7 No license or ownership..... 70
Article 8 No warranty..... 70
Article 9 No further obligations..... 71
Article 10 Term and termination..... 71
Article 11 Survival of obligations..... 71
Article 12 Breach and remedies..... 71
Article 13 Disposal..... 71
Article 14 Protective order..... 71
Article 15 Good faith and fair dealing..... 72
Article 16 Dispute resolution..... 72
Article 17 Applicable law..... 72
Article 18 No assignment..... 72
Article 19 Written form..... 72
Article 20 Default rules..... 73
Checklist for Start-ups on IP assignment and licensing..... 76
ICC Principles to facilitate commercial negotiation..... 79
About the International Chamber of Commerce (ICC).... 81
ICC Publications..... 82
The ICC Model Contracts for Start-ups were developed by a dedicated working group of international expert practitioners associated with the ICC Commission on Commercial Law and Practice (CLP), and benefited particularly from the leadership and insight of CLP Commission Chair Ercüment Erdem
(Turkey), as well as the active participation of the following members: Bettina Geisseler (Germany); Sergi Giménez Binder (Spain); Peter Poleacov
(Germany); Ecem Süsoy (Turkey); Carlo Tabellini (Italy); and Cecilia Xu Lindsey (United Kingdom). The models also benefitted from robust commentary from experts across the global network of ICC national committees.
ICC Secretariat lead and oversight was provided by Emily O’Connor (France) and Secretariat support by Whitney Jolivet (France).