Stephen Martin and James Canton came up with an idea of starting a business called “Bicycle for Hire.” They found a good location in the town center and decided to open a shop where people can park their car and rent a bicycle to travel around town. This idea came about because they themselves found it difficult to travel in the town as the roads were always congested with traffic. Since Stephen and James have been the best of friends for over two decades, they have decided not to sully their bond by having a Founders’ Agreement. Do you think it’s a good idea to not sign the Founders’

Agreement? Why?