Corpora

📣 Big news from Corpora. Moving forward, we're focusing on 83(b) elections. Since launching this product, we've earned the trust of individuals and companies from around the world to handle this time-sensitive document. And to do so for a fraction of the cost that it would otherwise take for them to do it on their own: time-wise, financially, and mentally. The secret to gaining this trust is... there is no secret: we treat your 83(b) election as if it were for our own stock in Corpora. 🔹 Placed the order on Sunday night? We're sending it out on Monday. 🔹 Your tracking number isn't getting updates? We open a case with USPS. 🔹 There's something off in your election? We give you a courtesy heads-up. 🔹 What if the IRS misplaced your document? We give you bulletproof evidence that will withstand trial. We know how important this document is for you. We know that the tolerable margin of error is zero. We know that messing this up could cost you your dream. And so, when you trust us with your most sensitive information to handle one of the most consequential documents you'll ever file... We deliver. Corpora already offers the best product on the market for 83(b) elections, accessible to anyone from anywhere in the world. And it's only going to get better. Stay tuned.

Filing an 83(b) election on your own can easily take over 5 hours of your time. With file83b.com, it's "click, click, done". 1. Draft your 83(b) election electronically. 2. Double-check to make sure it's all correct. 3. Sign online. And then sit back and track the progress. We’ll take care of the rest for you. We’ll mail your election to the IRS. We’ll let you know once it’s mailed, once it’s delivered. And also provide you with the date-stamped copy of your election once we receive it back from the IRS. Learn more and file your election at file83b.com. #83b #startups #founders #rsa

A co-founder fallout can be extremely detrimental. It's frequently flagged as one of the main reasons startups fail. In this article Stepan Khzrtian explores the questions to ask and answer to align with your co-founder. #startupfailure #startupsuccess #founders #buildingbusiness #businessandmanagement #techentrepreneurs #business #startups #techstartups #saasstartups #startupfounders #entrepreneurship #entrepreneurs #businessgrowth #startupchallenge #startupgrowth #startupstrategies #startupsuccess #growthstrategy #expertadvice #earlystagestartups #scaleups #startupjourney #startupfunding #startupfinance #scalingup #scalingbusiness #organizationalleadership #businessadvice #founderstories #leadershipadvice #management #economy #leanstartups #founderjourney #startuptips #startingabusiness #cofounders #salary #stockoptions #esop #foundersguide #compensation #benefits #shares #fundraising #seedcapital #seedround #seedfunding #preseed #startupemployees #bestpractices #expertadvice

"How do I get things started with a cofounder?" This is a question I'm asked often – and one I love talking about at length, drawing upon my own experience of searching for a co-founder for almost two years. And so, when Mark asked about this for his own venture while we were beating the heat with iced lattes last week, I realized that this *had* to be the topic of the next post for "the founder memo", Corpora's newsletter. https://lnkd.in/gMsj8CF6 The highlight? 👉 A detailed list of questions to *definitely, absolutely, positively* talk about with your co-founder. 👈 And want to document it in a Founders Agreement after you do? You're covered there as well – I've linked the template version of the actual agreement Serop and I used, along with tips on if and when to use it. Any other cofounder tips come to mind? Comment below! ___________ 📣 Are you searching for a co-founder? Pitch your startup idea here!  Who knows... maybe that's how you find you future co-founder. #startups #founder #cofounder

Our Petition on the term "Nonlawyer" got some love during this thoughtful discussion about legal ecosystems: https://lnkd.in/gRqTaWtu

When I sat down to prepare for my podcast with Brian Liu, founder of LegalZoom, I noticed a recurring theme as I researched and wrote down the questions: Access to legal support. All the questions that came out onto that Google Doc were somehow related to helping people get better access to legal support, whether through technology, innovative business structures, or advocating for change. "Why don't we call this the 'Access to Justice' episode," I suggested to Brian. Turns out, he had a bone to pick with that term: it's interpreted as simply encouraging more pro bono work, which doesn't do justice (no pun intended) to the core matter – equal access to the law. He eventually offered another phrase which captures the spirit of what we cover in this episode, and which ended up as its title: Democratizing the Law. And so, here we are!  Dropping Episode 11 of the founder memo podcast by Corpora, covering an array of topics, including: * How legaltech has evolved over the past 25 years * The legaltech scene in the UK vs. U.S. * The U.S. legal system, legal education, and its impact on access to justice * Alternative business structures – effective in practice or only in theory? * Petition calling on the ABA to drop the term "nonlawyer" * Legal innovation without engaging in unauthorized practice of law * AI and the next 25 years of legaltech Check out the teaser below, and watch the full episode at: https://lnkd.in/dja3dUA8 Happy viewing! *** Brian Liu is the founder of LegalZoom.com. He served as CEO of the company for the first 7 years and remained as Chairman of the Board until 2018. Now, he’s onto his next legaltech venture – Overture.law, an attorney-to-attorney referral platform that aims to become the Ticketmaster of law.

Thrilled to be featured on the Legal AI map by Battery Ventures, along with many amazing startups changing the way law is practiced and accessed!

Founders – this is your friendly reminder to pay for your common stock if you haven't already. Not in IP. 💡 Not in services. 🛠️ But instead, in cash. 💸 Write a check. Wire the funds. Or, at the very least, have it deducted from your paycheck (yes, better late than never). So when time comes to raise that venture round, you have one less thing that can stall the process. Here's how to stress-test your stock issuance process to make sure you're solid. 👇 https://lnkd.in/gcT5AZeH #startups #founders #stock

Farm to (cap) table--here's my [updated] proposed stack to self service legal workstreams from SaaS idea up to priced equity round, with as little involvement from your coun$el as possible. *This is generalized / doesn't include quirks (e.g. regulatory, clean-up, unique facts, which may be hard to ID without a lawyer). Of course, if you can afford it, best legal outcomes achieved by working with a lawyer* 🏢 1. FORMATION: Clerky lifetime package for formation, equity incentive plan adoption, founder stock grants. I like it more than Stripe bc of the greater menu of post-formation actions. Often, 10m authorized with 10-15% reserved for EIP (you don't even need to adopt the EIP if you don't plan to use it for now! This may even give you modest ammo to ask for future investors to share dilution later). Be sure allocations of stock to founders and EIP are within limits 💰 2. 83(b) ELECTION: If you formed on Clerky, use Clerky! Otherwise, Corpora's www.file83b.com is great 🤼 3. EMPLOYEE & CONSULTING AGREEMENTS: Part of the Clerky lifetime package, or if you're already thru formation, forms from Cooley Go (www.cooleygo.com) can include employment & consulting agreements which do the critical work of assigning stakeholders' IP to the company (among other things). Both FTEs and contractors should sign their respective forms! Note these vary a little by state, but many find risks palatable to just use a single form, especially when it's more employee-friendly 💹 4. ISSUE RSAs OR OPTIONS. Pulley is a great resource for near-automatically managing the process of board consents and issuing RSA / option grants, through eSignature, based on your template forms. If you're doing options, (and generally as soon as you can afford it) get a 409A, but know that it is clear evidence of a new Fair Market Valuation, and stock / options should generally always be granted at FMV! 💸 5. AS NEEDED, SAFEs. Corpora makes this super easy--most tend to just give post money valuation cap, though discount is sometimes better. Try very hard to avoid giving Most Favored Nations 📜 5. CONTRACTS. Bonterms, Common Paper , for more neutral starting points that work for lots of SaaS off the shelf; Y Combinator for something more favorable to you but likely to invite more redlines, esp from mature customers. If competitors host their terms online, consider what language they are using might benefit you in particular. Consider hosting terms (conspicuously) with online clickwrap to help reduce redlines. Some legal review might be good here ✅ 6. AUDIT. If you start realizing revenue, think a term sheet is coming, or otherwise feel your company's value is going to start going up soon, you're approaching an irreversible door to get your corporate governance in order and do any clean up necessary. Recognize that self-servicing the above may have resulted in some under-optimized outcomes or require some cleanup. Legal and Ops PC for this (bias?) #founders what else would be helpful?

The pitch for our 83(b) election product, file83b.com, is one sentence: 🎯 I treat your 83(b) election as if it were my own. *** File your election at file83b.com, by Corpora.