What are 10 things every startup must legally do?
You do not need the best startup attorney in SV to keep on top of your legal materials as a startup. Just a couple good attorneys who each know their stuff (i.e. strong attorneys). There are affordable resources out there. At a minimum just get a little legal guidance where you can. I promise it will go a long way. I realize that there are only six numbered items, but here are some things I like to think about for early stage companies and that we at UpCounsel keep our eyes on.
1. Form Company Properly
- Basics: If you want to raise institutional capital then form a DE corp. If not, then form a Corp or LLC in your home state. Either way make sure you 1) file appropriate state docs and 2) create appropriate internal docs. If you form a corporation, the core document is your stock purchase agreement. If you form an LLC, the core document is the operating agreement. In both circumstances, properly assign IP to the company.
- Stock Purchase Agreement (http://www.upcounsel.com
- Operating Agreement (CA Multi-Member) (http://www.upcounsel.com
- IP Assignment Agreement (http://www.upcounsel.com
- Confidentiality and Invention Assignment Agreement
- Basics: The easy thing to do here is rip another “like-company” TOS and PP and modify it. Not advisable. At a minimum, get an attorney who is well versed in these materials to just look over what you have done. If you do not know any then reach out to me and we will find you one.
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