Practice
Forming the company
A company's first documents decide arguments that won't happen for years: who can sell, who can be bought out, and what happens when a founder leaves. We write them so those arguments are short.
Clementine leads formations. Most take three to five weeks from the first call, depending on how many owners need to agree.
From the first call to the signed agreement
Four steps, each one finished before the next begins.
- 01
The ownership conversation
Who owns what, who decides what, and what each founder is putting in. We ask the uncomfortable questions now, while everyone still agrees.
- 02
Choosing the entity
An LLC or a corporation, and in which state, with the tax questions sent to your accountant in writing.
- 03
Drafting the agreement
The operating agreement or bylaws, with vesting, buy-sell terms and a deadlock clause. You get two rounds of comments.
- 04
Signing and filing
Signatures by video or at the office, the state filing, the tax ID and the first written consents.
The fee
One fee for the whole formation
Quoted after the first call and written into the engagement letter.
Up to four owners
The entity, the governing agreement, founder equity and the filings, for one flat fee.
Ask about this feeOwnership and vesting terms
Operating agreement or bylaws
State filing and tax ID
More than four owners
Each owner beyond four adds to the fee, for the extra conversations and signature pages.
Ask about this fee
State filing fees are passed on at cost, with no markup.