Start-Up Resources
Getting the right documents for your start-up company can be daunting and costly. To give you a hand up, we offer a suite of documents to accelerate the process of forming a start-up and getting the company ready for investment.
These are the same best practice documents we use at ʼһ – and we’ve helped start more than 45 companies. By offering this suite of documents, we aim to increase transparency and demystify the process of starting a new company.
The documents will enable you to follow a simple, tried and tested process, saving you time and money, reducing your overhead and helping you focus on your business.
The Easy Start-up Package
The following documents are downloadable in PDF format.
Constitution – A company constitution is a document that specifies the rules governing the relationship between activities of the company and its shareholders.
Shareholders’ agreement – A shareholders’ agreement is a contract between the shareholders of a company. It regulates the relationship between the shareholders and sets out what is going to happen in certain situations. A shareholders’ agreement is not compulsory and is a confidential document between the parties to the agreement.
Convertible note agreement – A convertible note agreement is an agreement between investor(s) and a company for a particular round of convertible loan financing where the loan can be converted into equity. Convertible notes are usually used for the first investment in a company when it is difficult or too early to agree on a valuation for the company. The loan is usually converted to equity at the next investment round at a discount to the agreed valuation of the investment round.
Licence agreement – A licence agreement is a business contract between two parties where the licensor (the seller of the licence) owns the asset (e.g. intellectual property) being licensed and the licensee (the buyer) pays for the right to use the licence. Payments for the licence rights may be in the form of equity, royalties, annual or milestone payments. Licence rights may be exclusive or non-excusive by field and/or territory and usually time limited. The template is relevant for licensing of patents and associated know-how.
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Disclaimer
These templates have been made available for your reference purposes only. They show an example of the terms under which ʼһ might set up a spin-out company from Waipapa Taumata Rau, University of Auckland. You must not copy, share or use these templates for any other purpose. Every start-up deal is different – ʼһ does not warrant or represent that these terms will apply in every case and recommends that independent legal advice is sought to ensure their appropriateness for the specific use case.
Acknowledgement
The constitution, shareholders’ agreement and convertible note agreement are based on original documents provided by and reproduced with kind permission of (formerly Simmonds Stewart). Their website offers to help you grow your tech company.