Getting Your Corporate House in Order: Lockdown Legal Fixes

A strange thing happens when you're forced to spend a lot of time inside at home. You start seeing the things that are broken around the house. There is a new urgency to fixing them. For tidying up. For getting rid of excess and simplifying your life.

Funnily enough — it seems as though the same thing is happening to a lot of tech startups and scale-up companies right now.

We are very pleased to be helping a number of businesses at the moment 'tidy up' their affairs.

To paraphrase one client - they are 'taking the time to do the things [they] always needed to do, but never had time for...'.

If you need some inspiration - here's a hit-list of legal ‘Iso' 'fixes' you might want to consider doing, or delegating:

Making ASIC filings

Always boring, never sexy, but required after 28 days of making a change to shareholders, directorships etc

Getting all of your corporate, board documents together in the one place

Especially useful for future due diligence/ raises. This might include:

• Board resolutions
• Certificates of incorporation
• Constitution
• Corporate Structure Diagrams
• Board Minutes and resolutions
• Shareholder's agreements
• Domain name registrations
• Trademark records
• Patent records
• Tax documents
• getting all of your company contracts together in the one place — for the same reason
• issuing share certificates (this is supposed to be done within 2 months of an issue or 1 month for a transfer)
• ensuring all shareholders have signed up to the shareholder agreements
• making sure employees with shares or options have paperwork issued, and appropriate filings have been made
• updating cap tables/ share registers/ option registers, or better yet, migrating to electronic share registers
• updating standard terms
• setting up e-signing software/ subscriptions
• double checking that all employees have signed IP assignment deeds and filing them
• updating employee policies and procedures, especially ones that impact employee working locations
• issuing home-office setup checklists
• checking your insurances
• culling under-utilised subscriptions

Are you doing something similar?

Interested in chatting with us?

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