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- Legal & HR
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:
- Straightforward term sheet template with terms reflecting what a founder is generally more attracted by.893 remove_red_eyefreeby Sam Altman
Founders Shareholder Agreement TemplateThis founders shareholder agreement is what you need progress your startup from idea to reality.721 remove_red_eye
Angel Investment Term Sheet TemplateA founder-friendly term sheet template for angel investment.756 remove_red_eyefreeby Jonathan Lea
Term Sheet TemplateTermsheet Template for the Issue of Ordinary Shares471 remove_red_eyefreeby EBAN
VC Venture Capital Term Sheet Template - NVCA ModelA Series A Preferred Stock VC Term Sheet Template583 remove_red_eyefreeby NVCA
Advisor Agreement TemplateThis agreement should be used to bring advisors on board.331 remove_red_eye
Term Sheet Series A TemplateGuidance for founders negotiating Series A funding.651 remove_red_eye
The Plain Preferred Term SheetSimplified term sheet leaving out terms adding to complexity whilst aligning the incentives of founders and investors.426 remove_red_eye
Term Sheet TemplateA Simple Term Sheet Template by Gunderson Dettmer Law Firm455 remove_red_eye
Co-Founder Equity Split TemplateSpreadsheet containing 5 calculators and a box that takes the average of everything among all 5.244 remove_red_eyefreeby Al Bsharah
Founders Agreement Templates (UK & Hong Kong)Founder Collaboration Agreement Templates for use in the UK & Hong Kong.185 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_eye
Preferred Shares Term SheetA Preferred Term Sheet Template complimented with Educational Notes to help you.157 remove_red_eyefreeby Naco Canada
Shareholders AgreementThis shareholders agreement template has been created for startup founders .182 remove_red_eye
How to Split Equity Among Co-FoundersAdvice for founders on how to divide equity between co-founders.164 remove_red_eye
Mutual Non-Disclosure AgreementMutual NDA Template to ensure info shared between 2 parties remains confidential.174 remove_red_eye
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