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
- 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