Describe the arrangement in ordinary language
Write what each founder is contributing: money, time, existing work, customer relationships or something else. Explain the expected future involvement and the decisions that require discussion. Keep the description factual. Your solicitor can then identify which matters belong in an agreement, the constitution or other documents rather than trying to infer the deal from a share percentage.
Discuss changes before they happen
Ask what you want to happen if a founder stops working in the business, becomes unable to contribute or wants to sell. Discuss what outside investment might change. These are preparation questions, not recommended legal terms. A founder’s preferred outcome may need adjustment once a solicitor explains its practicality, enforceability and effect on the other parties.
Separate consent from administration
For example, founders may agree informally that a major purchase needs discussion. Ask how that expectation should be documented and how the business will manage it in practice. The company’s formal decision processes and records remain relevant. An agreement stored away without a usable process may leave the same disagreements unresolved when a time-sensitive decision arrives.
Take a joined-up review
Give the solicitor the proposed constitution, ownership instructions and any investor requests. CRO requires updated constitutional text when it is amended; use version control for the agreement too. Save the final documents together, with a short explanation of where the authoritative signed versions are stored. Revisit the arrangement when new shareholders or substantial new funding are proposed.
Your practical checklist
- Describe each founder’s contribution and involvement
- Discuss departures, future funding and major decisions
- List disagreements that need a resolution process
- Provide all related documents to the solicitor
- Store the signed agreement with the current constitution
Sources and editorial notes
Official guidance and any referenced service information checked 11 October 2026. These are original preparation notes with illustrative examples; they do not replace individual legal or tax advice.
Author and publisher: Ireland Company Formation, operated by COMMERCIAL ADMINISTRATION BUREAU LIMITED. For a correction or question, contact the team.
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