Below you'll find a list of all posts that have been categorized as “Legal Documents”
You often hear lawyers or other legal service providers warn against using templates for legal documents. You might think they’re just protecting themselves and their business by trying to scare customers away from the competition, but that really isn’t the case. There are a number of inherent risks in using templates for legal documents, so before you do, be sure …
If you’re a startup with two co-founders, you may be tempted to split your equity 50/50. In theory, this may seem like an easy and fair way to divide ownership. However, an equal equity split may lead to a number of future problems that you should consider before going this route. Although rarely discussed because it’s a sensitive matter, founder …
You are ready to launch your business but you don’t know which legal documents you need or how to get them. You want to be sure you have everything necessary to save you a world of hurt. Need a compliance checklist? Here it is! Which legal documents do you need? The Memorandum of Association – Articles of Association – Certificate …
Shares can be transferred at any time and you need to know how the situation will be handle. Here are the essential for those seeking legal answers on Share Transfer Agreement. How to Transfer A Share: A transfer of shares, also known as a stock transfer, is the process of changing ownership of shares from one shareholder to another in …
There are many different aspects of a Shareholders’ Agreement. This is to explain what Tag Along and Drag Along rights are. What are Tag Along and Drag Along Rights? A tag along provision also called ‘co-sale right’ is a clause that allows minor shareholders to ‘tag along’ with a larger shareholder or group of shareholders if they find a buyer …
Shareholders agreements: A shareholders agreement is a legally binding contract between the shareholders of a company. A shareholders agreement determines the shareholders’ rights, responsibilities, privileges and protections. It can be used to protect investments, it creates a secure relationship among shareholders and maps out the running of a company. With a shareholders agreement there is clarity and certainty as to …
In startups, co-founders often overlook the need for legal security in their company. Startups are especially vulnerable to legal matters relating to many different areas such as protecting their intellectual property, getting the right terms and conditions, and various forms of employment contracts. Often co-founders only feel the need to get their legal agreements later, once legal issues have already arisen. …
When entering the business world it is important that you are aware of the different business agreements that are needed in order to run your company. You don’t have to be a legal expert, however, you do need to have a basic understanding of how the law works in relation to your business. A lot of jurisdictions around the …
What is a Shareholder Agreement? A shareholders agreement should essentially be the cornerstone of any business venture between founders and partners. It is a legally binding document that sets out the structure of the company. A shareholders agreement can be among many people, not only the co-founders but anyone who has a potential interest in the company. The agreement should …
Top 10 Legal Documents For Small Businesses So, you’ve got the idea and are all psyched to get going! But one thing holds you back every time you try to get the ball rolling; where do I start? do I have all the right documents to ensure I have a working business? These are the 10 most important legal documents …
“I don’t want to spend an arm and a leg to get this done.” – Luke, Founder and CEO of Happy Clouds LTD
Luke is founder and CEO of Happy Clouds LTD, a cloud service provider for companies of all sizes. He started this business by himself but shortly after took on a co-founder, Lucy. Luke and Lucy have been working together for a year but have yet to set up a shareholders’ agreement.
They have been bootstrapping Happy Clouds’ growth and so have spent the bare minimum. A year on, the business is generating revenue and as the client base grows, Luke and Lucy need to ensure that their business foundations and customers contracts are bulletproof.
Luke and Lucy are fast-paced – they don’t have time to spend explaining their business model to lawyers, they want someone who can quickly understand what they want and run with it. They also don’t want to spend an arm and a leg to get this done.
Luke and Lucy come to Linkilaw. After getting their initial terms of business set out, they realise they also will need another 3 to 4 contracts in the next 12 months.
PRO MEMBERSHIP
| Contracts (drafted by specialist lawyers) | 4 contracts |
| Drafts allowed per contract | 3 drafts |
| Bonus legal advice | Digital only |
| Priority of service | Over non-members |
| Speed of contract turnaround | 7 working days |
| Annual business review conference call | Included |
| £2,500/year or £235/month |
“We are scaling up but we want to make sure we get everything updated and in place too.” – Liam, Co-Founder of WineToGo
Liam is the co-founder of WineToGo. His business sources wine from a large network of wine producers and helps their customers select the best wines for their taste to get delivered to their homes. He founded his business with 3 co-founders (Lance, Lily and Larry) and has a shareholders’ agreement in place. The four of them met at university and decided to build their marketplace.
Lance and Larry are passionate about wine and have a background of oenology. Lily is a developer; she built the first platform and collaborated with Liam on business-related matters. They all work in a small office in North London.
After 1.5 years in business, WineToGo features a first selection of 20 UK wine providers and developed its activity in London. However, the business requires funding to expand to the UK (especially Manchester and Birmingham).
Liam and his co-founders are looking towards the future and are happy to get legal advice. They have a focus on investment but also want to explore the possibility of needing future contracts. They plan on having more team members in the near future (business development consultants to prospect wine producers and developers). Liam and his co-founders want to know what to expect and they should have in place for their growing company.
PRO MEMBERSHIP FOR
| Contracts (drafted by specialist lawyers) | 5 contracts |
| Drafts allowed per contract | 4 drafts |
| Type of communication | Digital + calls + in-person meetings |
| Priority of service | Over non-members and digital members |
| Speed of contract turnaround | 5 working days |
| Annual business review conference call | Included |
| Bonus legal advice | Unlimited |
| £7,500/year or £650/month |
“My businesses are successful and I want legal services in the long term” – Lynn, Founder of ConsciousDressToImpress.com.
Lynn is a serial entrepreneur who has founded 6 businesses and successfully exited 3 of them. Her sixth and last business is a sustainable fashion brand that retails exclusively online on her website, ConsciousDressToImpress.com.
Lynn is currently generating a stable £4 million a year of revenue and makes between £750,000 and £950,000 of net profit yearly. She really loves being able to bring sustainability and awareness to one of the most polluting and wasteful industries on the market, and now wants to stop building businesses to just focus on this one.
Unlike her previous businesses, Lynn does not want to sell. She wants to stay managing director for the foreseeable future, as ConsciousDressToImpress grants her a job she loves and stable, high income.
Lynn has used Linkilaw previously in her other businesses and loved the work they did for her. It was made easy, accessible, and affordable. She loves being a Linkilaw member because she feels the Linkilaw team is focused on the long-term and on maintaining an honest, professional and friendly relationship with her and her business. Amelie, her dedicated legal point of contact is also a fan of sustainable fashion and loves wearing ConsciousDressToImpress.
PRO MEMBERSHIP
| Contracts (drafted by specialist lawyers) | 6 contracts |
| Drafts allowed per contract | 3 drafts |
| Type of communication | Digital + calls |
| Priority of service | Over non-members and digital members |
| Speed of contract turnaround | 5 working days |
| Annual business review conference call | Included |
| Bonus legal advice | 30 minutes per contract |
| £9,000/year or £800/month |
“I want a check-up on my contracts and make sure everything is in place.” – Logan, Founder of InvestMap App
Logan created the InvestMap App 5 years ago with one of his long-term colleagues, Lauren. InvestMap is the tool for people who never invested and want to start. Via the app, the consumer learns about how to make wise and long-term beneficial choices; is invited to invest at the right time, and gets updated on the next gold mine.
Logan and Lauren already have a few consultants and their app has been adopted increasingly that it’s now difficult for them to manage their activity with their original team. They now want to implement more structure into InvestMap in order to get more staff and be able to get to the next level.
Logan comes to Linkilaw and expects to review the first contracts that have been drafted when he started his business and get more for his new coming employees. He is very keen on ticking boxes and making sure that InvestMap is secure as it goes on.
PRO MEMBERSHIP
| Contracts (drafted by specialist lawyers) | 9 contracts |
| Drafts allowed per contract | 1 draft |
| Type of communication | Digital + calls |
| Priority of service | Over non-members and digital members |
| Speed of contract turnaround | 7 working days |
| Annual business reivew conference call | Included |
| Bonus legal advice | 30 minutes per contract |
| £8,600/year or £750/month |
“At this stage, Move.In will need legal counsel.” – Leah, Founder and CEO of Move.In
It’s been 8 years since Leah created Move.In, selling kits for students moving to another city (including cutlery, first food, sanitary and emergency essentials). Leah started on her own the business but hired 41 employees during these couple of years. She has now 30 employees and operated over the United Kingdom, Germany and France.
With long-term partner contracts who feed her a stable stream of leads, Move.In has established itself as a leader in the market and currently generates over £3 million of yearly revenue. Its growth is also steady (5-10% a month).
Leah is looking for a legal advisor who will take on the role of in-house legal counsel, but without working full-time. She wants to work with someone who knows and understands her business and proposes the most commercially minded decisions. She doesn’t have the budget for full-time legal counsel, but would nevertheless like to have a lawyer she can reach whenever she wants.
Leah was looking for someone who had expertise in both commercial contracts – ensuring she created real win-win situations in her partnerships – and employment – managing employee onboarding documents such as offer letters, employment and option agreements, staff handbook. Leah now works with a dedicated Linkilaw lawyer and is delighted that she is able to work with a senior lawyer at a rate that is significantly under her budget.
PRO MEMBERSHIP
| Contracts (drafted by specialist lawyers) | 9 contracts |
| Drafts allowed per contract | 2 drafts |
| Type of communication | Digital + calls + meetings |
| Priority of service | Over non-members and digital members |
| Speed of contract turnaround | 7 working days |
| Annual business review conference call | Included |
| Bonus legal advice | 1 hour per contract |
| £12,800/year or £1,200/month |
“I want to get legal work sorted with a moderate budget.” – Lara, App developer
Lara is an app developer who created custom mobile applications for startups. She often works from her clients’ offices to get immediate feedback on her work. When she’s not working from a client’s office, she works from a co-working space or from a local cafe. Her accountant recently told her she should create a business entity for tax and liability purposes.
Lara’s business is already taking off, so she has a moderate budget to spend on getting her legal work sorted. She knows she wants to incorporate her business, write her own terms of business to use with clients (instead of just accepting the terms they provide her with), and make sure her new website has the documents it needs, but she’s not confident in her legal knowledge. She wants access to legal advice for all the small questions that pop-up day-to-day.
Lara loves working with Linkilaw because her dedicated legal point of contact, Gillian, is knowledgeable, responsive and friendly. She likes that Gillian knows and understands her business and long-term goals. The legal solutions Lara receives from Linkilaw are not only accurate, but they are also commercially-minded and thoroughly thought through.
Lara is grateful to have been introduced to Linkilaw by a friend and she now recommends the Linkilaw membership to her clients.
PRO MEMBERSHIP
| Contracts (drafted by specialist lawyers) | 3 contracts |
| Drafts allowed per contract | 5 drafts |
| Type of communication | Digital + calls |
| Priority of service | Over non-members and digital members |
| Speed of contract turnaround | 7 working days |
| Annual business review conference call | Included |
| Bonus legal advice | Unlimited |
| £4,000/year or £350/month |
