Start-Up Documentation

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Start-Up Law Talk
www.startuplawtalk.com
Corporate Law
Carter Mackley
Mackley & Mackley, PLLC
(206) 249-9678
carter.mackley@mackleylaw.com
www.mackleylaw.com/
Immigration Law
Tahmina Watson
Watson Immigration Law
Seattle, WA, 98154
(206) 292-5237
tahmina@watsonimmigrationlaw.com
www.watsonimmigrationlaw.com
Tax
Deniz Kiral
Turquoise Tax Advisory
(425) 945-6300
deniz@turquoisefinancial.com
www.turquoisefinancialadvisory.com
Intellectual Property Law
Ashley K. Long
Ember Intellectual Property Law Group,
PLLC
(617) 513-8222
ashley@emberip.com
www.emberip.com
START-UP DOCUMENTS
OVERVIEW
What are the minimum legal
documents necessary for the wellorganized startup company?
(What documents will a sophisticated
investor or acquirer expect to see?)
Big Picture Categories
• Corporate Formation Documents
• Founder Stock Purchase and Contribution
• Equity Compensation
• Other Employee Documents
• Technology Protection
• Financings
• Commercial Contracts
Corporate Formation Documents
• Articles of Incorporation (or LLC Operating Agreement)
• Bylaws
• Stock Purchase Agreements (see slide on founders)
• Stock Ledger and Cap Table
• Stock Certificates
• Minute Book (organizational resolutions)
• EIN Application
• State Business License
• Local Business License
• Shareholder Agreement
• S Election – Consent to S Election (If so electing)
Articles of Incorporation
• Filed with Secretary of State
• Authorized Shares
• Terms of Stock
• Board of Directors
• Voting Rules and Thresholds
• Special Voting Protections
• Director Indemnification/Liability Limitations
Bylaws
• Shareholder Voting Procedures
• Board of Directors Procedures
• Officer Duties
• Indemnification (can also be separate
document)
Shareholder Agreement
• Voting Agreement for Board of Directors
• Right of First Refusal
• Co-Sale
• Drag-along Clause
• Break-up
• Death/Disability/Bankruptcy/Divorce
Founder Agreements
• Restricted Stock Agreement
• Vesting Schedule
• 83b Election
• Employment Agreement?
• IP Assignments and Invention Assignment Agreements
Executive Employment Agreement
• Base Comp
• Bonuses
• Severance
• Termination
• Cause/Good Reason
• Non-Compete
• Intellectual Property
Equity Compensation
• Board and Shareholder Approvals
• Stock Option Plan
http://www.startuplawtalk.com/start
• Stock Option
Grant
• Stock
-up-law-talk-workshop-h1b-andOption
Agreement
the-start-up/
• Exercise Notice
Other Employee Documents
• Offer Letters
• Inventions Assignment and Confidentiality
• Stock Option Grants
• Tax Forms
• Employee Handbook
• Benefits disclosures
Inventions Assignment and Confidentiality
Agreement
• All employees/all contractors should sign
• Assignment of Inventions
• Confidentiality
• Non-compete
• Non-solicitation
• Recites company ownership of emails, etc.
Technology Protection
• Asset Assignments (at founding)
• Inventions Assignment and Confidentiality Agreement
•
•
•
•
(employees and contractors)
Non-Disclosure Agreements (mutual and unilateral)
Trademark Registrations
Patent Applications(?)
Website Terms of Use
Commercial Contracts (Examples)
• Independent Contractor Agreement
• Website Terms of Use/Privacy Policy
• SAAS Agreement
• Distribution Agreement
• Supply Contract
• Engineering (Design) Services Agreement
• Service Provider Agreements (e.g., hosting
agreement)
Financings - Series A Documents
• Business Plan/Private Placement Memorandum
• Term Sheet
• Cap Table
• Purchase Agreement
• Certificate of Designation
• Shareholder/Voting Agreement
• ROFR/CoSale Agreement
• Investor/Registration Rights Agreement
• SEC Form Ds – Blue Sky
Certificate of Designation
• Terms of Preferred Stock
• Liquidation Preference
• Dividends
• Conversion Terms
• Redemption
• Protective Voting Provisions
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Start-Up Law Talk
www.startuplawtalk.com
Corporate Law
Carter Mackley
Mackley & Mackley, PLLC
(206) 249-9678
carter.mackley@mackleylaw.com
www.mackleylaw.com/
Immigration Law
Tahmina Watson
Watson Immigration Law
Seattle, WA, 98154
(206) 292-5237
tahmina@watsonimmigrationlaw.com
www.watsonimmigrationlaw.com
Tax
Deniz Kiral
Turquoise Tax Advisory
(425) 945-6300
deniz@turquoisefinancial.com
www.turquoisefinancialadvisory.com
Intellectual Property Law
Ashley K. Long
Ember Intellectual Property Law Group,
PLLC
(617) 513-8222
ashley@emberip.com
www.emberip.com
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