[Consulting] Providing legal advice for drafting a business partnership agreement for startup company A. Law firm Veat

Law firm Veat provided consulting on the drafting of a business partnership agreement for Company A, which develops and operates applications.

Company A is developing and operating an application providing dining-related services. Mr. J, the CEO of Company A, reviewed the business partnership agreement with co-founder Mr. K to ensure it did not violate laws such as the Commercial Code.

Accordingly, Law firm Veat added provisions to the business partnership agreement, including ▲ clauses specifying the rights and obligations regarding the sale of equity shares ▲ a non-competition obligation clause ▲ a clause regarding penalties in the event of a breach of contract.

Startups often begin with close acquaintances, so a 'business partnership agreement' may be an uncomfortable process, but having a business partnership agreement that specifically outlines the rights and obligations of the partners in advance can greatly help prevent disputes related to future company operations.

Law firm Veat is providing practical assistance to various startup companies, centered around Chief Representative Attorney Choi Seong-ho, Partner Attorney Song Do-young, and Attorney An Il-woon, who are active as ICT startup legal mentors for the Ministry of Science and ICT.

Those who need help with drafting a business partnership agreement are welcome to contact Law firm Veat.

Thank you.

From Law firm Veat