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christopher
@christopher
from y'all's experience: 1. Stripe Atlas now, 2. go with a legal team (and burn engagement fees) soon, 3. wait until i need structure for my investors?
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Drew Beechler
@drewbeechler
I had a pretty expensive #2, but was a pretty complicated incorporation and founding with IP transfer and things, so it was needed. For 90%, Stripe Atlas (#1) is best. Unless you have a complicated corporate structure.
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christopher
@christopher
yeah, that's what i am thinking now, as well, thanks for sharing! i want to have all the questions answered for folks asking, so maybe the best plan is to Stripe Atlas then refer advanced questions into legal services.
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Drew Beechler
@drewbeechler
It also depends a bit on what your ultimate goal is, obviously. If you plan to raise VC funding at some point, launch a token, hire W2 employees, etc. All of those would impact structure and formality you might want from a legal perspective. Getting lawyers involved mostly just helps mitigate potential risk or lawsuit.
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christopher
@christopher
such good advice. my primary focus is to raise capital (multiple inquieries about structure of the legal entity and then the raise) and provide something for cofounders/first employees to huddle behind. a Delaware Corp/legal precedent there probably answers a lot of those questions maybe?
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Drew Beechler
@drewbeechler
Yep — would recommend a Delaware C corp for sure. Atlas should help you get the tax ID, initial cap table, founder share purchases, and option pool (for future employees). And help you file the 83(b) tax election (VERY important for founders), which kicks off QSBS 5-year period.
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