"An Il-un Partner Attorney, Column Contribution on the Pros and Cons and Precautions of Startup Co-founding"

Law firm Veat partner attorney An Il-woon contributed a column on the advantages and disadvantages of startup co-founding and points to note.

According to our Commercial Code, shares are, in principle, freely transferable by their owners (Commercial Code Article 335, Paragraph 1). Therefore, if co-founders sell their shares to an external third party, a major shareholder who is completely unknown to the company's general meeting of shareholders may appear and become involved in the company's management. This situation can destabilize the company's governance structure and cause confusion in the management team’s decision-making.
Advantages and Disadvantages of Startup Co-founding, and Points to Note_Innovation Forest (2024.11.27)

Attorney An Il-woon explained in detail in this column the advantages and disadvantages of co-founding, and the importance of a shareholders’ agreement to prevent and resolve problems that may arise between co-founders. Please refer to the content below for detailed information.

Advantages and Disadvantages of Startup Co-founding, and Points to Note(Innovation Forest)

Innovation Forest is a platform that analyzes and provides growth data for domestic startups, holding over 15,000 startups and over 5 million data points. This enables various stakeholders, such as investors, large corporations, and startups, to understand the growth status of startups and explore investment review or collaboration opportunities.

Certified IT Specialist Attorney by the Korea Bar Association Attorney An Il-woon graduated from the Department of Computer Science at Yonsei University’s College of Engineering and worked as a section chief at Naver Co., Ltd.’s Search Development Center. With this experience, he possesses a unique strength in deeply understanding both advanced technology and law in the IT field, and has accumulated extensive experience in various fields, such as legal due diligence, M&A, and investment consulting, based on this.

Thank you.

Law firm Veat