1. How it usually happens
In the beginning, there is enthusiasm. You talk vision, product, market. Decisions on roles and equity are made fast, often over a beer or in a late-night chat. "Let's do 50/50", "we'll sort it out later", "we're friends anyway". It all seems simple.
Then the project grows. One works full time, another part time. One brings in clients, another builds the product. The first investment arrives, or even just the first revenues. At that point, the questions start: who contributed more? Does the equity truly reflect the contributions? Are the roles still the initial ones?
A classic anecdote: two founders start together, one leaves their day job immediately, the other stays employed for a few months. A year later, the first feels they "gave everything", while the second claims to have provided stability and contacts. Both are right, but no one documented what was actually agreed upon.
A less obvious perspective: in startups, the problem isn't just "who did what", but "when". The timing of contributions matters immensely. The initial idea, the first lines of code, the first client, the first investment. Without a timeline, everything tends to blend into a messy narrative.
Moreover, initial documents are often incomplete. There's an agreement on equity, but not on roles. Or on roles, but not time commitments. Or everything is written down, but then practice changes and no one updates the documents.
Finally, there's the selective memory effect: every founder tends to remember their own contribution best. It isn't malice; it's human. Documenting serves precisely to prevent memory from becoming the sole source of truth.
2. What you need to prove
The goal is to have a clear, verifiable trail of what was agreed upon and how the founder relationship evolved.
It can be useful to prove:
- the existence of initial agreements between founders;
- the content of decisions on equity and roles;
- expected contributions (time, capital, skills);
- actual contributions made;
- any modifications to initial agreements;
- operational responsibilities over time;
- communications between founders on these topics;
- the chronological sequence of decisions;
- any disagreements or clarifications;
- the state of affairs at key moments (investor entry, milestones, etc.).
In practice, you must be able to narrate: "this is what we decided, this is what happened, and this is how we got here".
3. What to collect
Collect both formal documents and operational trails. In early stages, the latter often outnumber the former.
Collect:
- founder agreements (even drafts or unsigned versions);
- shareholders' agreements or similar documents, if they exist;
- emails deciding equity and roles;
- exported chats showing relevant discussions;
- planning documents (roadmaps, business plans);
- notes from founder meetings or calls;
- screenshots of important messages;
- files proving contributions (code, design, content);
- activity logs or repositories (commits, tasks, tickets);
- documents on personal investments or incurred expenses;
- any compensation or reimbursements;
- presentations to investors or partners;
- subsequent versions of agreements;
- calendar or activity timeline;
- any documents related to the entry of new partners.
A helpful tip: always keep document versions. Even a minor edit can change a lot.
4. How to proceed
If you are at the start, immediately formalise at least the essentials: roles, equity, expected commitment, agreement review methods. If you are already running, you can still reconstruct and lock down the current state.
Create a shared founder folder, holding clear and updated documents. Add a summary document describing the current situation: who does what, with what commitment, holding what equity.
Practical procedure:
- gather all existing documents and communications;
- organise the material neatly;
- create a timeline of major decisions;
- identify any gaps between agreements and reality;
- draft a shared summary document;
- update or supplement existing agreements;
- save previous versions for the history log;
- create ZIP archives of key moments;
- certify relevant documents and versions;
- share and align the document among all founders.
A good habit is sending written summaries after major decisions. Even a simple message confirming "we decided X, effective from Y" helps immensely over time.
5. Mistakes to avoid
Many disputes stem from a lack of initial clarity or updates that are never formalised.
Common mistakes:
- not putting anything in writing at the start;
- using vague or incomplete agreements;
- failing to update documents when situations change;
- relying purely on verbal conversations;
- failing to distinguish between expected and actual commitment;
- ignoring discrepancies in dedicated time;
- not tracking contributions and expenses;
- using unversioned or undated files;
- avoiding uncomfortable conversations until it's too late.
Besides technical certification, it is crucial to work on clarity: defining expectations, updating agreements, communicating transparently. Free certification is useful because it secures key moments without bogging down the decision-making process.
6. After the documentation
Once the situation is clarified, maintain this discipline over time. Every major change should be documented and shared.
Involve consultants when new partners or investors enter, or when agreements become complex. At a European level, it is beneficial to have support on corporate structure, governance, and shareholder rights.
Above all, use documentation as an alignment tool, not just a defensive one. When everyone sees the same "version of events", it's easier to make decisions and less likely to end up arguing about who remembered the start of the story best.