Starting a business can be complicated for a variety of reasons, and oftentimes the most difficult step is the very first one. Perhaps this is largely due to the uncertainties that surround the process of actually filing the appropriate paperwork and paying the necessary fees to incorporate your startup. To help coach our clients through this process, we often share with them the ‘3 Tools To Help Your Incorporate Your Startup’, which our clients love. Without further ado, lets dive into these in a little bit more detail.
Clerky is a Y-Combinator endorsed service that helps startups manage the tedious and complicated task of legally launching and incorporating your startup. The service has been used by hundreds of startups, and it covers everything from incorporation paperwork, post incorporation setup, and stock plan adoption paperwork. The only limitation is that Clerky only works for startups looking to file as a Delaware C-Corporation (popular among startups for a variety of reasons).
PandaDoc is another highly useful tool to help you organize your paperwork. Though it doesn’t quite provide the same level of legal service and guidance as Clerky, it has a wider variety of pre-built documents at your disposal. Looking for a template for your next consulting engagement letter? Looking for a non-disclosure agreement template? Look no further– PandaDoc has you covered for all of the above. To make it even more simple, PandaDoc allows you to edit the document via it’s easy to use and intuitive interface, and ultimately send the finished document to the appropriate parties for their signature. No need for printing, signing and faxing documents– PandaDoc streamlines this process to save you both time and hassle.
The SBA.gov site is a detailed learning tool to help you understand the legal requirements for your new startup. If you’re hesitant to hire an attorney and pay their fees, you can do your research and learn about the necessary licenses and paperwork you’ll need to file for your startup. Further, they provide resources at a state-wide level to help you make sure you’re compliant with both federal and state requirements. A great strategy would be to research all of the necessary legal requirements via SBA.gov, and use PandaDoc for drafting the paperwork necessary to get your business up and running from an operational standpoint.
Of course, it’s always smart to involve both your accountant and attorney in conversations regarding starting a new business. Your accountant should be able to advise you on the most favorable legal entity structure from a tax perspective, so make sure you schedule a consultation with him or her prior to taking any action. However, by leveraging the ‘3 Tools To Help You Incorporate Your Startup’ you should be better off as you embark on your new startup journey!