Not only do you need to know what documents you can send, but also what those documents should contain. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else. This document is written by the corporation's founders and includes all important information about the company, including the business name, address, structure, objectives, and intentions. It details four main areas: ownership, decision-making, operating procedures, and responsibilities. Once the document is approved, the corporation is officially established and may begin business activities. It must be filed with the state in which the company intends to conduct business. You may need one, if not several, business licenses for your startup, depending on your industry and where you are located. Operating Agreement. The articles of incorporation are also known as a certificate of incorporation or articles of association. This is especially true for technology companies, because it’s often the value of your IP portfolio that investors and venture capital firms are evaluating. Most importantly, bylaws should institute voting thresholds for approvals to certain actions by the corporation like electing new board members or entering into debt. Your startup must comply with all applicable laws. The company will own all rights to the IP portfolio. Those rights can include shareholders’ right to transfer shares, right of first refusal, redemption upon death or disability and shareholders’ power to manage and run the startup. Discover a better way to hire freelancers. Business Bank Account, Business Credit Card and Clear Separation of Business and Personal Assets: This is a bit outside of strict "documentation" but is absolutely critical for establishing a bright line between your personal and corporate finances, so immediately establishing corporate bank accounts and credit lines is an early step that can help to protect both you and the corporation in case … Start a Business. While all options have their pros and cons, for the most part, startups with multiple shareholders should form a C corporation. I understand that the data I am submitting will be used to provide me with the above-described products and/or services and communications in connection therewith. Startup Documents (also known as Startup Docs) generates and stores legal documents for early stage companies. As well as the above information you will also need to provide the following two documents to successfully form a limited company: Articles of association – Outlines the rules for the running of the company, including internal management affairs and legal responsibility. For just $5 per month, get access to premium content, webinars, an ad-free experience, and more! Follow the 10 steps from the Small Business Administration (SBA) to starting a business.You’ll learn about writing a business plan, determining the legal structure of your business, and more. An intellectual property (IP) agreement determines how a business's intellectual property may be used and transferred, especially when different entities are working together. Contact information for each licensing requirement. These agreements may also be called confidential disclosure agreements (CDAs), proprietary information agreements (PIAs), or confidentiality agreements (CAs). learn more . Here is a … If your company is receiving funding from private investors, it is now time for your attorneys to draft shareholder agreements. From the moment a prospective employee or investor walks through your door, you need to have an NDA agreement waiting for them to sign. 4 Ways to Cover Your Ass Legally as a Business Owner, California Rules Hourly Employees Who Perform Tasks 'Off the Clock' Must Be Compensated, How the Gig Economy Hurts Workers and Consumers, Managing Your Lawyers as Your Startup Grows, Two Arguably Avoidable Things Led to the Huge Lawsuit Between Alphabet and Uber. To avoid any conflict among founding parties, all co-founders should sign a comprehensive operating agreement. And where you are located potential with Entrepreneur Insider ’ s formation to opening an account my own from... Establishes the rights and responsibilities of the business and file the business name with state. Id number and a means to reach them a DBA ( doing business as fictitious. 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