https://youtu.be/HQEpXQODBV4 Written by Kaylina Ryan. Video credit: Samantha Scott, Esq. Everyone could use a couple of extra bucks, especially in the startup world. Pre-seed founders spend countless hours perfecting their product and slaving over sales in order to make their company look enticing to investors. With so many other factors to think about, it’s easy … Continue reading 3 Legal Tips to Make Your Startup More Attractive to VCs
Author: George Simons
George is a legal technology expert completing a JD/MBA at BYU. He is the Founder of Lawble.co and SoloSuit.com and Head of Growth at Savvi.Legal. In his spare time he likes to cook, because he likes to eat.
How to Convert Your Startup From an LLC to a Delaware C-Corp
https://www.youtube.com/watch?v=X3vDiRKlJB8 Savvi Attorney, Samantha Scott, Esq. gives tips on converting. Yep. It’s a pretty awkward feeling when you find out you need to be C-Corp but you’re just a lowly LLC. Now, there’s nothing inherently wrong with an LLC, but in the world of startups - you want to be a C-Corp. Not an LLC. … Continue reading How to Convert Your Startup From an LLC to a Delaware C-Corp
I’m opening a subsidiary overseas, I was asked for a company extract or a document from our company registrar authority. What is that?
Answered by Attorney Dan Roberts. A company extract is a report that consists of the details about the company like lists of founders, directors, share capital, number of shares, and ownership percentage. It includes corporate documents provided by the company's registrar authority. This is an overseas practice. Foreign companies need to register every share issuance … Continue reading I’m opening a subsidiary overseas, I was asked for a company extract or a document from our company registrar authority. What is that?
I’ve begun a search for a full-time employee in preparation of funding. What legal aspects do I need to consider?
First, Savvi has automated the entire legal process for onboarding an employee and granting equity. So that's a good place to start. Consider these questions when hiring your first employee: 1) Payroll, how will you pay them? How will you withhold income and employment taxes? 2) Any benefits? Most startups don't offer benefits until later. … Continue reading I’ve begun a search for a full-time employee in preparation of funding. What legal aspects do I need to consider?
In a “Terms of Service,” What is AAA Clause for Dispute Arbitration?
Answered by Attorney Dan Roberts. Regarding ToS: AAA clause for dispute resolution means that if someone wants to sue you, they have to do so through the AAA Arbitration process instead of using courts. Some people like it, some people don't. There are pros and cons. I typically prefer not to do arbitration provisions because … Continue reading In a “Terms of Service,” What is AAA Clause for Dispute Arbitration?
One of my contractors resides in India. We have an existing Work For Hire & NDA, but I’m unsure if they’re enforceable. How can I go about setting it up correctly?
Answered by Attorney Dan Roberts. You can have contracts with foreigners - not a problem. Though, technically, if they owe you something it can be difficult to enforce the contract. But with a Work For Hire, the main things you look for like IP Assignment and Confidentiality will be binding and since enforcement doesn't require … Continue reading One of my contractors resides in India. We have an existing Work For Hire & NDA, but I’m unsure if they’re enforceable. How can I go about setting it up correctly?
How Do I Calculate My Delaware Franchise Taxes?
For more detailed information check out our Delaware Franchise Tax and Annual Report FAQ. DE Franchise Taxes and Annual Reports are due by March 1. If you don’t file by the deadline, you get hit with something like a $250 late fee. Also Delaware Franchise Taxes can be calculated in either of two ways. The … Continue reading How Do I Calculate My Delaware Franchise Taxes?
What “Anti-founder” Terms Should I Watch Out For When Negotiating with VCs?
Answered by Dan Roberts, 9-year venture attorney, on a Savvi Slack channel. As a venture attorney that's seen a fair number of deals inside and outside the Valley, I'd say that any investor who does a large volume of investments is going to basically fall within what has become standard VC terms. But you're more … Continue reading What “Anti-founder” Terms Should I Watch Out For When Negotiating with VCs?
Oops. 4 Documents You Forgot When You Founded Your Startup.
Many founders mistakenly think their work is done once they have legally formed their business entity. They frequently end up regretting this mistake later when problems arise. These documents go into the legal foundation of your startup to make it even stronger so that when problems arise, your startup will stand firm and your founders … Continue reading Oops. 4 Documents You Forgot When You Founded Your Startup.
Delaware Franchise Tax and Annual Report FAQ
What is the Delaware annual “Franchise Tax”? The Delaware “Franchise Tax” is simply the annual fee that Delaware entities are required to pay for the right or privilege to exist as a Delaware company. The name “franchise tax” is misleading both because (1) it isn’t a “tax” in the typical sense of the word, as … Continue reading Delaware Franchise Tax and Annual Report FAQ
The Savvi Founder 