What does this mean?
You’re ready to incorporate! Check out the incorporation page for details on when, where, and what to incorporate.
This stage is about laying the necessary legal groundwork to properly start your startup journey. You need to understand the key risks and set up your business properly for maximum opportunity. Keep in mind, however, that you won’t be able to cover all risks at this stage (or ever), and it’s a matter of learning how to prioritize and act accordingly.
As always, be aware of the risks by using our LEXR Standard Master Checklist
What should I do on the legal side?
Corporate
- If you’re more than one shareholder, enter into a Shareholders’ Agreement (SHA) with a co-founder vesting.
- Understand how CLA & SAFE work to secure your first funding.
Regulatory
- Set up your website and have Privacy and cookies policies.
IP
- Make sure that all IP created before the incorporation is assigned to the company. Read more here: IP ownership & IP assignment.
- Register (or consciously decide not to) your Trademark & branding.
- If some of your IP was created while doing some research at a university, you must obtain a license from your TTO. You can read more here: University startups & IP.
Contracts
- Create your main contractual template for your services. This can be different Types of contracts such as a Servcies Agreement or a set of Terms & Conditions.
HR
- Hire your first employees and use our free Employment Agreement generator.
- Understand the Distinction between employees and freelancers.
- Choose your lawyer. You can change in the future, but it is important to have expert and pragmatic advice from the start. Book a free call with us.