Startups

When you are getting started in business, you want to focus on what excites you. Thankfully, what excites us is helping you and your business to succeed! Of course there are some legal requirements for a startup. We know that many new business owners are so busy they do not have time to implement them. We’ve packaged up what you need to know and we’ll partner with you to understand what is required.

What is a start up?

A startup can be difficult to define. It is more than a new small business, and is usually connected to innovation. Common features of a startup are:

  • Designed to grow fast
  • Often seeks funding from the outset, via capital from investors rather than a loan from the bank
  • Begins with an exit strategy in mind

What legal services do startups need?

Because startups grow quickly, it is important that they have their legal ducks in a row from the outset. Your business structure and protections need to keep up with your growth.  The types of legal advice startups need include:

  • Structure advice, including setting up a company, dual company structures and the use of trusts to hold shares
  • Raising capital – this can include making sure the company set up allows outside investment, loan agreements for family investment, subscription agreements and terms sheets for investors
  • Issues around employing staff and engaging contracts
  • Dealing with customers and suppliers
  • Protecting your intellectual property

The advantages of startup packages

We understand that startups may not have the capital to spend a lot on legal services when they are first starting out, so we have designed packages to provide some standard documentation and ongoing advice to assist you without breaking the bank. This includes offering standard documents for you to use, which can then be customised for an additional fee. Our startup document suite includes:

  • Shareholders agreement
  • Investment term sheet and share subscription agreement
  • Employment agreement
  • Contractor agreement
  • Website terms and conditions and privacy policy
  • Confidentiality and non-disclosure agreement
  • IP assignment agreement
  • Services or client agreement

The Streamlined Startup Package

  • Choose 2 documents from our suite of standard start up documents to suit your needs
  • Group coaching sessions – a series of 3 one-hour coaching sessions focused on protecting IP, dealing with customers and suppliers and engaging employees/contractors
  • Annual consultancy membership – 10 x one-on-one sessions per year with one of our business lawyers
  • Package Price: $3,000*

The Customised Startup Package

  • Select 4 documents from our suite of standard start up documents to suit your needs, and customised to suit your business
  • Group coaching sessions – a series of 3 one-hour coaching sessions focused on protecting IP, dealing with customers and suppliers and engaging employees/contractors
  • Annual consultancy membership – 20 x one-on-one sessions per year with one of our business lawyers
  • Package Price: $8,000*

Add ons:

Company set up

  • Set up a new company, including a standard constitution and company register
  • Price: $900* (includes disbursements)

Employee share scheme

  • Through our partnership with Succession Plus, we are pleased to be able to offer you a Start-up Employee Share Plan as an additional service.

Businesses less than 10 years old who meet specific criteria are eligible for this Plan, which has numerous tax benefits. This service includes setting up and managing the plan.

  • Price: $6,000*

*All prices are exclusive of GST and current as at 1 April 2018

Do you need help outside of Canberra – across Australia or overseas? Our membership in Meritas provides you with a gateway to fine commercial law firms across the world.