virtual services for technology or service-based start-ups
Start up companies are technology, service or product based businesses which expect to scale and grow quickly. These types of businesses have particular needs and concerns and should, from the start of the business, have good, clear contracts which will help the business grown and avoid costly mistakes and disputes.
A start up can work with Momentum on one-off contracts. We also provide a “start up package” which ensures that your start up gets off on the right foot, has all the documentation needed, and has ongoing support. Fees for the package can be billed in various flexible ways.
If you are unsure about our process, or how this all works, you can check out our Virtual Momentum Info Sheet.
If you are ready to incorporate and you don’t have any business partners yet, this is for you!
Cost: $500 + 3rd party fees
This agreement will help your founder team organize and protect the business and ideas when you aren’t ready to incorporate yet.
If you are incorporating, or have a corporation and there is more than one shareholder of the corporation, a Shareholder Agreement will protect both the business and the shareholders and provide a mechanism for people joining and leaving the business.
You and your business partner(s) are ready to incorporate – this is for you!
Cost: $500 + 3rd party fees
Start up companies are usually providing a new and novel product, service or delivery model and are sharing the business idea with potential team members and investors. A non-disclosure agreement is extremely important to protect the business idea and potentially intellectual property.
Many start ups initially rely heavily upon contract workers to help grow the company. Having the correct contract in place is vital to helping the company grow and attract new talent and investment.
Stock Option Plans:
Start ups often rely on compensating founders, early team members and early advisors through stock option plans. Having the correct plan in place and tracking the option pool is extremely important as a start up grows and looks for additional investment. We help you assess what your Plan should look like and provide a template Option Plan, Option Agreement and Option Grant.
EARLY STAGE Investor Agreements:
There are strict rules for start ups selling shares in the company to investors, even if those investors are friends, family members or close business associates. Documenting the investment correctly protects the company, the investor and ensures compliance with Ontario securities laws. We work with you to come up with the standard investment document to suit the early stage investment round. We can also manage your round through our end-to-end virtual process for additional fees.
Cost: $1000 - $2000
Founder and Staff Employment Agreements:
As start ups grow all relationships with the company, including the founders, should be well documented with employment agreements which include appropriate non-competition, non-solicitation and IP protection clauses.
Start ups often enter into agreements with other business providers to provide or retain services. These agreements need to be clearly documented as they often play an important role in the growth of the start up.
when you're unsure: LEGALIFY
Sometimes legal agreements or needs can be unclear or difficult to identify. When that happens you can come to Virtual Momentum to help figure out what legal services best fit the situation.