Standard Slicing Pie cofounder agreement template for pre-incorporation phase is now customized for Lithuania
Dynamic equity split based on the slicing pie method is very popular with founders as an alternative to the traditional fixed equity splits. Why? Because it is transparent, fair and future proof. And it provides an understandable and objective methodology. It also accommodates for the uncertain future, which is the main blind spot of the fixed splits.
Vilnius: thanks to the efforts of Giedrė Rimkūnaitė – Manke, Legal Expert at Glimstedt, who customised for Lithuanian founders the Cofounder Agreement template using the dynamic equity split! The dynamic equity split is based on Mike Moyer’s slicing pie method. This is great news for Lithuanian early stage founders, as it gives them the opportunity to use the ‘fairest equity split tool’ and avoid many potential issues that are caused by fixed equity split in too early stages.
Naturally, start-up founders do not invest into legal matters at early stages, at least not until the first round of investment. At this stage, however, it is often too late to start thinking about a share split and legal relations between the founders. When I first heard about Mike Moyer’s Slicing Pie method and localized template contracts, I wanted to make them available to Lithuanian start-uppers either, seeing them as a value for money option for startups at early stages. The Slicing Pie rules of the game are straight forward, clear, and effective. I hope that the Cofounder Agreement template customized for Lithuania will efficiently supplement them.
The solution is based on the standardised templates developed by Jana Nevrlka, the founder of Cofounding, who coordinates the development of the slicing pie solution for European founders together with great help and support of Mike Moyer and other local slicing pie experts.
Mike Moyer, the US-based inventor of the Slicing Pie model, was pleased to hear the development “Slicing Pie is used by thousands of companies all over the world and most countries encourage fairness, but it is always nice to give founders that extra certainty that the model is aligned with the local rules and have local Slicing Pie expertise available.”
Giedrė Rimkūnaitė-Manke heads Glimstedt Lithuania’s Intellectual Property, TMC and Data Protection practices. She is the initiator of “Glimstedt For Start-up Business” platform created to provide start-up business with many of legal services in an extremely efficient and prompt manner against a fair and reasonable fee known beforehand.
Giedrė is an active member of the International Technology Law Association (ITechLaw) and a member of the ITechLaw Start-up Committee. She is also an active member of the Intellectual Property Committee of the Lithuanian Bar Association.
Glimstedt has offices situated on both sides of the Baltic Sea – in Lithuania, Sweden, Latvia, and Estonia, that provide high-quality services to their clients in all parts of the world. At Glimstedt, we are open to challenges and are fiduciaries of our clients’ affairs, as well as their strategic partners. We resemble personal family doctors who are not only capable of making an accurate diagnosis of the client’s issues, but also undertake all preventive measures necessary to help the client to avoid those issues.
Cofounding is creating tools and know how for founders, which include cofounder agreement templates, equity split tools and courses, and a proven 7 steps of cofounding the right way methodology, developed by Dr. Jana Nevrlka. It is summarised in an international bestseller, Cofounding The Right Way. Jana is driven by the mission of “No more failed business partnerships!” .. that could have been prevented. She is focused on helping founders build cofounding teams that win and last.
About Slicing Pie
Slicing Pie is a universal, one-size-fits-all solution for the allocation and recovery of equity in an early-stage, bootstrapped company. It is a formula that allows founders to divide equity based on the fair market value of each participant’s contribution. It is a fair, logical and structured way to align everyone’s interests and incentives. Slicing Pie is used all over the world. It is, by far, the fairest way to split equity in an early-stage, bootstrapped startup! Developed by Mike Moyer.