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Provisions for compensation

Provisions for reimbursement of costs that are incurred personally by the co-founders for the business, personal living expenses and mechanism for sharing any revenue that is generated can be specified. Note that some revenues may be incidentally generated – the co-founders agreement is not typically intended to deal with situations where there are significant revenues or profits. At that stage the business should be structured as a formal partnership or incorporated as an LLP or a company. 

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