• July 2018
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What are the core legal requirements for a online business?

– You’ll want to form your business. Either an LLC, C Corp or S Corp for most web startups.

– Prepare a Privacy Policy and Terms of Service for your site. See more: How does a web-based startup usually prepare or write its privacy policy and terms of service?

– Get your post-incorporation documents in order if you ever plan on taking on investors and/or hiring people. This includes stuff like bylaws, initial board consent, restricted stock purchase agreement, confidential information and assignment agreements etc…

– Decide whether you want to trademark your company name. More on that here.

– Create a founders agreement if you plan on bringing or currently have co founders. See Raad Ahmed’s answer to What are the most important points in a co-founder agreement for a startup?

– Figure out whether you want to file a provisional patent if you believe your software is truly unique.

– If you plan on raising money from investors, decide whether you’ll do a convertible note or equity round. If convertible note, you’ll want an attorney to draft up a convertible promissory note, note purchase agreement, and board consent.

We routinely do this kind of work for startups at LawTrades. If you have any further questions, feel free to shoot me a message. Congrats on the new site!

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