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