Startup Legal Preparation - Exercise


Exercise: For this homework, prepare for legal to work with the startup. Make the necessary calls to arrange meetings with potential lawyers. Working Group session Discussion: Questions: Should I use Legalzoom? In talking to a mentor for pitch session, they suggested using clerky.com. Is that a good option? Should I incorporate C-corp? Should I incorporate in Delaware? What is the cost of a legal package for a professional law firm? How many shares should I allocate? Can the mentor institute suggest a law firm? My friend received a giant tax bill due to allocating too many shares. Why? What are the difference in incorporating in Delaware compared to California? What is the new California foreign tax? Do law firms work for future payments? Is it helpful to offer equity for law services? Do venture capitalists ask to re-incorporate the company once the funding round happens?