
Early-stage companies shouldn’t need to spend big $$ on lawyers for basic documents. Here are the templates every startup can use:
1/I used and will always use Stripe Atlas for company creation. For $500, they do everything, and it’s magic. If you prefer to do it yourself, you’ll need corporate formation docs and the founder's stock purchase agreements. • •
2/ To hire your first contractor, you’ll need Consulting Agreement. It includes the NDA, IP protection, and invention assignment.
3/ When you are ready to hire your first employee, give them a job offer and sign NDA and invention assignment agreement. • • If you are paying with stock, use these documents. • ​​
4/ When raising funds, some investors offer their own term sheets/agreements. Some might be complicated and not transparent. Here is a term sheet and SAFE agreement from YC • •
5/ When selling smaller checks, use terms of use to regulate your relationship. Larger clients require a sales agreement. Some require an NDA
6/ If you still have to use a lawyer, use Upcounsil by @XavierHelgesen and @SievaKozinsky. You’ll get a qualified help and won't end up paying $500/h for them just to consider your work.
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Early-stage companies shouldn’t need to spend big $$ on lawyers for basic documents.
— Aleksandr Volodarsky ?? (@volodarik) August 5, 2022
Here are the templates every startup can use:
re: some feedback. It's not legal advice, make your own decisions. Just some resources that were useful for me. Templates will not work for any situation. Read them before using. Also, if you take legal advice from Twitter, you should not be a founder, go do something else.
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