Bsusiness Lawyers Toronto Barrie

Startup Company Prelaunch Checklist

The following issues must be considered before the launch of a startup. Some steps have to be carried out father than others.

1. Selection of Business Plan and Professional Firms

- Selection of Law Firm

- Selection of Accounting Firm

- Selection of Management Team

- Selection of Board of Directors

- Business Plan, Projections and Capital Needs

- Key Milestone Targets (e.g., product development, sales levels, profitability)

- Marketing Plans

2. Protection of Intellectual Property

- Selection and Clearance of Business Name

- Selection and Clearance of Domain Name(s)

- Selection and Clearance of Trademark(s)

- Protection of Copyright - Protection of Patent(s)

- Other

3. Choice of Legal Entity 

- Sole Proprietorship

- General Partnership

- Limited Partnership

- Corporation - Other

4.Choice of Jurisdiction 

- Selection of Jurisdiction to Do Business (Provincial/Federal/International)

5. Tax Identification Numbers

- Completion of HST Form with Revenue Canada

- Other Required Federal, Provincial and Local Filings

6. Corporate Documents

- Preparation of Articles of Incorporation

- Preparation of Other Charter Document (e.g. Limited Partnership Agreement)

- Preparation of Bylaws, Regulations or Similar Documents

- Preparation of Organizational Resolutions

- Preparation of Shares or Other Equity Interest Certificates

- Preparation of Corporate, Partnership or Other

- Preparation of Seal

- Preparation of Equity Ledger

7. Selection of Board of Directors

- Inside Director Candidates

- Outside Director Candidates

- Establish Committees

- Establish Policies (e.g., employment, affiliated party, securities trading)

8.  Preparation of Equity Related Agreements

- Pre-emptive Rights

- Rights of First Refusal

- Rights of Tag Along or Take Along

- Restrictions on Transfer

- Voting Provisions

- Succession Planning

- Other

9. Preparation of Employment Agreements

- Founder Employment Agreements

- Non-Founder Employment (or Standard) Agreements 

10. Confidentiality Issues

- Employee Confidentiality Agreements

- Vendor and Customer Nondisclosure Agreements

- Non-Circumvention Agreements

- Non-Solicitation/Non-Disparagement Agreements

- Inventor Assignment of Rights and Related Policies

- Other Agreements

11. Patent Committee and Policies (if appropriate)

- Patent Committee and Policies (if appropriate)

- Establish Patent Committee

- Develop IP Harvesting, Retention and Exploitation Policies

- Engineer Training and Seminars

12. Employee Benefits Methodology

- Outsourced (e.g., administrative staff; other)

- Retained (e.g., individual company plans)

13. Equipment/Software/Other Licenses Required to Operate

¬ - Identification¬  - Negotiation - Ongoing Compliance Process

14. Shares/Equity Option Plans

- Percent Equity Reserved

- Qualified Incentive Option Agreement

- Non-Qualified Option Agreement

- Vesting Period

- Other

15. Insurance and Risk Management

- Identify Vendor/Agency

- D&O

- Key Man

- General Liability and Casualty

- Other

16.Selection of Sources of Capital

- Family, Friends and Fools

- Angels

- Venture Capitalists

- Private Equity

- Mutual Funds

- Strategic Partners

- Commercial Banks

- Other Sources

17. Preparation of Investor Presentations

- Sixty-Second Overview

- Detailed Power Point

- Other

18. Preparation of Agreements with Financing Source

- Convertible Promissory Note

- Warrants

- Collateral Security Agreements

- Assignment of Rights

- Other Lender/Inventor

- Required Documents

- Preferred Shares Designation

- Investor Rights Agreement

- Co-Sale Agreement

- Other