Friends of your parents are having dinner in your home. The friends are interested in launching an entrepreneurial venture and are expressing some of their views about doing so to your parents. You’ve been asked to join the conversation given that you are pursuing a major in entrepreneurship at your local university. As it turns out, your parents’ friends are involved with two other couples who will join them as founders of the proposed venture. They indicate to you that the other couples have expressed a desire to establish a founders’

agreement as part of the launch effort.

They also say though that they see no reason to establish such an agreement given that the three couples are close friends and have been for years. How would you respond to the position about a founders’

agreement that your parents’ friends are taking? What would you say to them to encourage the establishment of a founders’

agreement?