TECH START-UP PACKAGE
Start-Up Legal Package for New Tech Businesses
Technology start-ups need tech savvy business lawyers that share their passion for innovation and entrepreneurship in this new era of the Internet. Given the significance of legal protections and obligations at the inception of a technology company, we have established an extensive start-up legal package that is tailored to the demands of the tech industry and is priced to provide maximum quality legal support for a very tight budget.
Our start-up legal package is available to Canadian internet and tech businesses in their first year of conceptualization beginning with the formation of a new corporation structured for venture capital investment (owned and operated by Canadians and based in Canada). We provide this package for a fixed fee of $2,500 (plus out-of-pocket expenses, such as filing fees for incorporation, extra-provincial registration, registered office address and corporate supplies, and applicable taxes) (2016/17). These core legal documents are designed to enable the tech company's founders to confidently advance the business, with the aim that it gets them to the point of solid profit potential that justifies more extensive + complex legal work and the associated lawyer costs (i.e., offering memorandum, unanimous shareholders agreement, contract negotiations, licensing arrangements).
Our Legal Launch Package for Tech Start-ups consists of the following documents (to the extent required) and services:
Incorporation and Organization
- Reservation of corporate name (NUANS)*
- Preparation and filing of Articles of Incorporation (federal, Ontario or Alberta)*
- Preparation of By-laws, Initial Resolutions and Corporate Registers
- Election of officers and directors, together with filing with relevant governmental authorities
- Preparation and filing of extra-provincial registrations (if applicable)
- Direction for attaining relevant tax identification numbers from Canada Revenue Agency
- Provision of Checklist for Maintaining Corporation
- Provision of Checklist for Corporate Meetings Share
- Preparation of Founding Shareholders’ Restricted Share Subscription Agreements for up to 4 Founding Shareholders
- Preparation of Share Certificates and Receipts for up to 4 Founding Shareholders*
- Preparation of Commitment Agreement amongst Shareholders to enter into a reasonable Unanimous Shareholders Agreement within 12 months (not a replacement for a unanimous shareholders agreement)
Employment and Consultant Matters
- Standard form template of Employment Agreement
- Standard form template of Independent Contractor Agreement
- Standard form template of Confidentiality and Invention Assignment Agreement
Intellectual Property Matters
- Standard form template of Unilateral (One Way) Non-Disclosure Agreement (NDA)
- Standard form template of Mutual (2-Way) Non-Disclosure Agreement (NDA)
- Standard form template of Assignment of Intellectual Property from Founding Shareholders to the Corporation
Includes 3 Hours of Legal Time for Consultations (as described below) ☆
☆ In addition to the above-described legal documents and filings, we also provide up to 3 hours of legal advice and consultation and/or document review and negotiation specific to your corporate law matters (such as equity investment and debt arrangements, venture capital and/or angel investor term sheets, private placement and memorandums, business planning, negotiating, reviewing, drafting, and execution of various business agreements, commercial leasing arrangements, intellectual property, employment matters). Beyond these initial 3 hours, you will have the benefit of reduced lawyer hourly rates, with lawyer rates being reduced to $325 per hour (plus applicable taxes and disbursements) in year 1 (2016/17), $375 per hour (plus applicable taxes and disbursements) in year 2 (2016/17) and our standard $450 per hour (plus applicable taxes and disbursements) after the 2nd year (2016/17). Our legal assistant rate is currently $135 per hour (plus applicable taxes and disbursements) (2016/17).
* Additional charges for which you will be responsible include, but are not limited to, corporate name reservation (NUANS) and preliminary searches, electronic filing fees, governmental incorporation charges, extra-provincial registration charges, registered office address costs, share certificates, requested corporate minute book materials, copying/printing costs.
What is Not Included
The Tech Start-up Legal Package is designed to provide internet and tech start-ups with a comprehensive set of tools that will allow them to protect their intellectual property and become investor-ready to seek external financing, while striving to limit liability and costly legal disputes. This package does not include a unanimous shareholders agreement, private placement documentation, offering memorandum or other documentation related to raising external financing, as this is purely a start-up package and is not intended to represent the later stages of your development (although if you begin moving rapidly with your tech business’ progression, you will have the advantage of reduced lawyer hourly rates).Contact computer lawyer Christopher R. Neufeld of Neufeld Legal P.C. at email@example.com or 403-400-4092 for businesses situated in Calgary and Alberta or 416-887-9702 / 905-616-8864 for those businesses situated in the Toronto Business Triangle* (Toronto-Hamilton-London).
* The Toronto Business Triangle includes: downtown Toronto, Mississauga, Vaughan, Brampton, Oakville, Milton, Burlington, Hamilton, Cambridge, Kitchener, Waterloo, Brantford, Guelph, Woodstock and London.
Christopher R. Neufeld, an attorney with Neufeld Legal Professional Corporation, is admitted to practice in both New York (U.S.A.) and Ontario and Alberta (Canada), and represents computer / information technology businesses in the United States and Canada, and foreign technology companies engaged in commercial operations in North America. The law firm has offices in Calgary, Alberta; Toronto, Ontario and Burlington, Ontario. For more extensive business law information visit www.LawyerTorontoBusiness.com. COPYRIGHT 2008/16.