details of Early STage Legal's LLC package

 

Preliminary corporation name clearance. 

Before you can incorporate your company with the name of your choice, we will need to make sure that no other company has the same name.  We will perform this check for you.

 

Articles of Organization

This document generally establishes the following:

  • The name of the company
  • The address of the company
  • The initial managers of the company
  • The person who will officially form the company, the “organizer”
  • Indemnitication of managers
  • And the right to amend the articles over time

Learn more about the Articles of Organization>>

 

Operating Agreement (includes provisions protecting directors and officers from liability)

The operating agreement generally establish company rules for the following:

  • Organizational matters (name and purpose of company, interest holders in the company, capitalization, and ownership percentages)
  • Capital accounts (capital contributions, return of capital contributions, etc.)
  • Members, Voting Rights, and Meetings
  • Management and Control of the Company
  • Allocations of Profit, Loss and Distributions
  • Transfers of Membership Interests
  • Dissolution and Winding Up
  • Limitation of Liability and Standard of Care Indemnification
  • Other miscellaneous

Learn more about the Operating Agreement>>

Statement of Organizer

After the Articles of Organization have been filed with the state and the Operating Agreement has been finalized,  we finalize this document.  The Statement of Organizer identifies who the managers of the LLC will be.

Learn more about the Statement of Organizer>>

 

Initial Manager Consent (includes banking provisions)         

This is a very important document where the board (consisting of one member at this point) adopts the following resolutions:

  • Ratifies the initial incorporation
  • Establishes a minute book
  • Adds any new directors to the board of directors
  • Appoints officers to positions like President, CEO, Secretary, etc.
  • Issues common stock to shareholders
  • Adopts any equity incentive plans
  • Ratifies indemnification agreements, employment agreements, and consulting agreements
  • Grants officers the ability to open bank accounts, write checks, and otherwise manage the company’s fiscal affairs
  • Authorizes reimbursements
  • Authorizes withholding taxes
  • Establishes the formal accounting year of the company
  • Establishes the address of the company’s principal offi
  • Authorizes the company to file for a Federal Tax ID or Employer Identification Number

Learn more about the Initial Manager Consent>>

 

Customized member certificates for each member

This is a customized stock certificate that provides proof of the stock grant.

 

Member certificate receipts for each member

These are receipts that prove that the shareholders have received their stock certificates.

 

Quality Control Review               

Though we use software to generate our documents, we also review all of our work for quality assurance purposes.

 

Company Minutes forms

These are forms that provide you with a template and some instruction about how to take minutes at company board meetings.  It is considered good governance, though not strictly required, to take minutes at each board meeting.  Doing so can provide protection against liability for the board of directors.

 

 Form of Offer Letter for Employees       

This is an official customized offer letter for each of the initial employees of the company. 

 

Confidential Information, Assignment of Inventions Noncompetition Agreement for Founders

Companies generally want to ensure that any information provided to employees is kept confidential, that any inventions created on company time or with company resources become the property of the company, and that employees cannot take key information from the company and immediately use it to compete with the company.  These forms provide standard agreements with the company’s employees that ensure these protections.

Learn more about Employment Agreements>>

 

Indemnification Agreements             

This document provides added protection for the Managers of the company against liability.

Learn more about Indemnification Agreements>>

 

Restricted Member Purchase Agreements for Founders     

Many of our competitors do not grant equity fo in such a way to founders that is acceptable to investors.  Generally they don’t create enough stock in the company, they don’t establish stock incentive pools for future employees and they don’t provide any concept of vesting.  Vesting grants stock to founders over a period of time as they continue to work

Learn more about Restricted Member Interest Purchase Agreements>>

 

Member Purchase Agreements for Founders     

Sometimes one or more founders or initial investors in a company will contribute cash instead of only in-kind services.  Often these individuals will receive stock for their investment.  The stock received for cash consideration is generally not vested like the Restricted Stock (see Restricted Stock above) given to founders for their ongoing contributions.

Learn more about Member Interest Purchase Agreements>>

 

Ownership table in Excel (more than just a stock ledger)          

This is an Excel model that shows the initial ownership structure of your company and provides you with a template and some instruction about how to document any future stock grants. 

Learn more about Equity Models (Capitalization Tables)>>

 

 Custom creation of equity incentive pool         

Our competitors will not create a equity pool to incent employees.  This a pool of equity and associated grant documents that allow company managers to give equity stakes to employees.  This provides the company with an opportunity to provide powerful and important incentives to company employees to make the company successful and to remain actively involved in the company until their equity vests. 

Learn more about Equity Incentive Plans>>

 

Membership Equity Incentive Plan and employee packages

As mentioned above, we will create your company with a fully functional equity incentive program as well.  None of our competitors will do this.

Learn more about Equity Incentive Plans>>

 

Structured for investors

We promise to incorporate your company with the right amount of shares that will not require significant reworking should you raise money in the future.

Learn more about the Aurhorization and Issuance of Equity>>

 

Lawyer Review or Partner with Your Lawyer

Included in your price, we have a lawyer review all of the documents we create.  We can also partner with other lawyers who do not work at Early Stage Legal.  We have worked with some of the best law firms in the country and we are happy to provide you with a referral or we can work with a lawyer of your choice. 

 

Early Stage Legal Investor and Lawyer-Ready Guarantee

We guarantee to fix any issues related to your incorporation if an investor requires you to change something about what we did for you in the future.

Learn more about our Investor and Lawyer-Ready Guarantee>>

 

Access to your company’s own secure online legal document repository            

Because we intend to meet all of your early-stage legal needs from incorporation to financing to stock option management, we provide you with free access to a custom portal for your company where we store all of your legal documents.

Learn more about our Document Portal>>

 

24-hour delivery of electronic documents           

We guarantee that we will provide you with a faster turnaround than any of our competitors.  We will get you drafts of all of your incorporation documents to review within 24 hours.

 

Electronic signature

We allow you to create and / or send us an electronic signature that we automatically include in all of your final documents after you approve them.  This saves you time and can speed up complicated document closing processes by days.

 

Prepare and obtain Federal Tax ID (EIN)        

Just as individuals must obtain a social security number to work, companies must obtain a Tax ID Number (also called an Employer Identification Number).  We fill out the form for you and file it with the government.  We present you with your Tax ID number.

 

Access to a complete online library of entrepreneurial training

We provide you with access to a growing library of educational content that will help you become a savvy entrepreneur.  We explain and educate you about every aspect of the incorporation and fundraising processes so you can make the best decisions for your company.  

Go to our Learning Center>>    

 

Expedited Fedex delivery of final package            

We will send your final printed documents to you by 2-day FedEx.  You will receive your electronic documents as soon as we get them back.

 

Registered Agent Fee for the First Year               

It is generally a good idea for a company to have a registered agent.  The registered agent provides a permanent forwarding address and acts as an intermediary agent that can receive important tax and legal notifications on behalf of the company.  If your company changes locations rather than going through a tedious re-filing process with the state government, you can simply inform your registered agent.  The agent takes responsibility for making sure that the company receives all of the notifications that will keep the company in good standing with the state government.  It also ensures that the company receives any important legal notices filed against the company.

Learn more about our Registered Agent Service>>

 

Professional LLC

We can also create Professional LLCs or PLLCs for the same price.

 

Optonal minute-taking service  

For an additional hourly fee, we can provide a certified paralegal to dial in to board meetings and take compliant corporate minutes.

 

Optional ongoing equity management

For an additional monthly fee, Early Stage Legal can manage your company's entire stock options program including issuing options, tracking optionees, tracking vesting, exercising, expirations, repurchases, etc.  Early Stage Legal will also oversee proper stock option accounting and 409A compliance.