What value would an attorney offer beyond this?
I've started a profitable business like this and never had any trouble.
What value would an attorney offer beyond this?
I've started a profitable business like this and never had any trouble.
Even YC advises against incorporating using generic paperwork (I would imagine the YC paperwork is pretty similar to what other Silicon Valley startup attorneys would use):
"Don't incorporate, though, if you can avoid it. It's easier to start with our paperwork than to transfer an existing LLC or S-Corp to a C-Corp."[1]
YC uses Goodwin Procter for their startup formations [1]. Goodwin Procter not only makes their startup formation documents freely available, they give you an automated service for customizing their boilerplate: http://www.goodwinfoundersworkbench.com/document-driver/
It generates:
* Certificate of Incorporation
* Consent of Sole Incorporator
* Subscription Letters
* Founder Stock Restriction Agreement
* Contribution and Assignment Agreement
* Bylaws
* Consent of Board of Directors
* Common Stock Certificates
* 83(b) Election Form
The value of an attorney:
- Structuring your business entity to best handle your management preferences and to minimize investor concerns (i.e. VCs).
- Pitfalls to avoid, and how to avoid them
- What to do, and when, and why.
Basically, an attorney will draft customized documents that fit your situation rather than just the limited subset of situations that the LZ/SoS forms can handle.