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Legal & HR templates
What are the Legal challenges for a starting business?
As a startup founder setting up a new company or trying to raise funds, you will be aware that there are numerous legal documents that must be filled out and signed to formalize and legalize the various processes. As if it wasn’t difficult enough!
Here, we have gathered a collection of the legal templates you will need to streamline these processes, speeding up time for you and your investors, and saving some money in costly legal fees. You will still need to consult a lawyer for solid advice, but these templates should speed things up a bit. As well as this they should provide a beginner entrepreneur with a deeper understanding of the key terms and phrases used in the startup legal world. Learn from those that have gone before and made those all too common mistakes. Forbes have actually listed 10 Big Legal Mistakes made by startups. We’re here to make sure you avoid them:
- Ambiguity regarding the deals being made between co-founders
->To avoid future disputes, all co-founders must be crystal clear on
-who gets what percentage of the business?
- -% ownership subject to vesting?
- -can a co-founder buy another founder’s shares if one leaves?
- -co-founders time commitments?
- -founders salaries?
- -founder contributions?
- -selling the business?
- -if a founder isn’t living up to expectations?
- -overall vision?
Not starting the business as an LLC or Corporation
Not having a standard form contract that favors your company
Forgetting about securities laws when it comes to issuing stocks to family and friends
Leaving out employment documentation
Not giving enough thought to IP Protection
- -Confidentiality Agreements
- Forgetting to study carefully important tax issues
- Picking a name for the company that has issues surrounding trademarks, domains etc
- Not having solid legal counsel
If you have thought of all of these- great! You’re more clued-in than most. If not, take advantage of Eloquens to read up and grab documents you might need to ensure that your startup will be legally sound.
If you’d like to know more on Business Law, have a look at these links:
Most popular templates
Founders Shareholder Agreement TemplateThis founders shareholder agreement is what you need progress your startup from idea to reality.719 remove_red_eye
Term Sheet TemplateTermsheet Template for the Issue of Ordinary Shares460 remove_red_eye
Advisor Agreement TemplateThis agreement should be used to bring advisors on board.330 remove_red_eye
Preferred Shares Term SheetA Preferred Term Sheet Template complimented with Educational Notes to help you.156 remove_red_eye
Common Shares Term SheetCommon Shares Term Sheet Template with accompanying notes to help understanding.137 remove_red_eye
Term Sheet TemplateTerm Sheet Template for a Series A Round140 remove_red_eyefreeby BVCA
Convertible Loan Term SheetConvertible Loan Template with complimentary Educational Notes to help you.92 remove_red_eye
Seed Enterprise Investment Scheme (SEIS) Model Term SheetA user friendly term sheet that is tailored for raising equity investments that qualify for tax relief82 remove_red_eye
Sales Compensation Plan TemplateSales Compensation Plan sample template used to hire sales people and to outline the plan for your new employee.124 remove_red_eye
Intellectual Property Assignment Template2 IP Assignment Templates (England/Wales & Hong Kong) to be used as is, or to be tailored to best suit your needs.290 remove_red_eyefreeby Seed Summit
Shareholders Agreement TemplateA Shareholder's Agreement beginning with introductory notes to aid understanding.121 remove_red_eye
Consulting Agreement TemplateTemplate for use if your business provides consulting services to other businesses.101 remove_red_eye
Manufacturing & Distribution Licence Agreement TemplateA ready-made, instructive license agreement that is specifically for manufacturing and distribution.193 remove_red_eye
Celebrity Endorsement Agreement TemplateAgreement template for celebrity/company collaboration for endorsement of the company's product.338 remove_red_eye
Series A Preferred Stock Purchase Agreement Template - NVCA ModelBuild your own Stock Purchase Agreement for your deal with this sample document built by the NVCA.173 remove_red_eyefreeby NVCA
Confidentiality Agreement TemplateUse this template to ensure your confidential info & proprietary secrets are protected.124 remove_red_eye
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