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Why do I need a Sweat Equity Agreement?
Under a Sweat Equity Agreement, employees or contractors receive equity in exchange for providing services to a business. It’s an important document for protecting both parties and establishing ground rules.
Drafting a Sweat Equity Agreement to meet the specific requirements of your business
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A Sweat Equity Agreement typically includes clauses setting out the amount of equity to be granted, and any milestones to the equity being granted. It also lays out the services to be provided by the worker and termination clauses.
Sweat Equity Agreements are usually used by startups to engage workers because they can’t afford to pay them at first. They are also sometimes used with software developers for similar reasons.
As an online law firm, we eliminate the headaches of paying us by the hour and finding time to meet with a lawyer in person. We communicate via phone, email and cloud conferencing — whichever suits you! We know you’re busy, so we’re only a click away. You’ll be guided through this process by our expert lawyers, who are Australian-qualified and were trained at leading law firms. They left the traditional corporate law sphere to help us make legal services better. Our lawyers specialise in technology, intellectual property, contract drafting, corporate and commercial law.
Our law firm operates completely online, which means we can help you wherever you are in Australia. We work at The Commons Central – a cool co-working space in Chippendale, Sydney – but our lawyers often work flexibly across various locations.