Startup Formation Packages

Sunder Legal

Startup Formation Packages

Creating a business entity is an important first step for business owners, founders, and entrepreneurs. The entity you select can affect you operate, how you interact with your partners, and your individual liability for the company’s actions.

We provide formation services for Washington, Delaware, and Wyoming.

Click Here for our blog post on the different types of entities that you can form when doing business in Washington.  This information is generally applicable to Delaware and Wyoming.

Washington Startup Formation Packages

Sunder Legal typically forms LLCs and Corporations for clients in Washington State. Click here for more information about the different types of entities that you can form when doing business in Washington.

Our startup formation packages include providing initial guidance on the appropriate structure for your business and investors, completing and filing applicable forms with state and federal regulators, drafting governing documents, and preparing any necessary corporate authorizations or consents required by the State.

One Founder

$1500

Two Founder

$2000

Three Founders

$2500

Drafting and filing Certificate of Formation or Certificate of Incorporation with WA Secretary of State

In order for your company to become a separate legal entity, you must file with the Washington Secretary of State a certificate of formation (for an LLC) or a Certificate of Incorporation (for a corporation). These documents will establish the corporate entity with the state and also include the underlying rules that will control how your corporate entity operates. This is especially important if you have partners.

Operating Agreement (LLC) or Bylaws (Corporation)

For an LLC, The Operating Agreement is the agreement among the owners that establishes the ground rules for running the Company. This document is extremely important for partnerships, and is akin to a manual for your business owners and managers when it comes to the most important decisions. For corporations, By-laws play a similar purpose and are established after you are officially incorporated.

EIN Filing with the IRS

Your Employee Identification Number is used by the IRS to identify your business.

Initial corporate consents and resolutions to formalize the creation of entity

Written corporate resolutions are signed by your company’s directors or shareholders. These documents formalize the initial decisions taken by the founders of the Company, for example, adopting certain by-laws or documenting the sales of shares.

Subscription Agreement and Stock Ledger

A stock purchase agreement or subscription agreement is an agreement between your company and its investors documenting the number of shares purchased, the price, and any other restrictions. For example, in most cases these agreements will include restrictions on transfers to comply with SEC requirements.

WA Business License Application

Many business types are required to obtain a business license before operating in Washington.

Intellectual Property Contribution and Assignment Agreements

Businesses should have complete ownership of their intellectual property, including IP developed by founders and employees. These agreements transfer the intellectual property from the business owners to the company and ensures the Company owns the IP.

Delaware and Wyoming Startup Formation Packages Services

The start-up formation process in Delaware and Wyoming are similar to Washington State, but each state has its own set of rules that dictate the relationship between investors and how companies should operate. Like in Washington, we help clients decide on the best entity type and state of formation and draft and file the necessary documents with state and federal regulators.

One Founder

$2000

Two Founder

$2500

Three Founders

$3000

Drafting and filing Certificate of Incorporation or Certificate of Formation with Secretary of State

In order for your company to become a separate legal entity, you must file a certificate of incorporation or Certificate of Formation with the Secretary of State. These documents will establish the corporate entity with the state and also include the underlying rules that will control how your corporate entity operates. This is especially important if you have partners.

EIN filing with IRS

Your Employee Identification Number is used by the IRS to identify your business.

Operating Agreement (LLC) or Bylaws (Corporation)

For an LLC, The Operating Agreement is the agreement among the owners that establishes the ground rules for running the Company. This document is extremely important for partnerships, and is akin to a manual for your business owners and managers when it comes to the most important decisions. For corporations, By-laws play a similar purpose and are established after you are officially incorporated.

Initial corporate consents and resolutions to formalize creation of entity

Written corporate resolutions are signed by your company’s directors or shareholders. These documents formalize the initial decisions taken by the founders of the Company, for example, adopting certain by-laws or documenting the sales of shares.

Subscription agreement/Stock Purchase Agreement and stock ledger

A stock purchase agreement or subscription agreement is an agreement between your company and its investors documenting the number of shares purchased, the price, and any other restrictions. For example, in most cases these agreements will include restrictions on transfers to comply with SEC requirements.

Intellectual property contribution and assignment agreements (if applicable).

These are agreements between a founder and a company that assigns any IP developed by the founder to the Company.  Investors will want to ensure these agreements are in place before they invest, since in many cases the value of the investment is in the IP.

FAQs

What is PLLC?

A PLLC is a Professional Limited Liability Company. This entity is reserved for certain licensed professionals working together or alone. They include CPAs, dentists, architects, and attorneys. The process for forming a PLLC is similar to an LLC.

What is a Registered Agent?

A registered agent is a person or service that will accept mail from the state on your behalf. The state wants to make sure that it can reliably send correspondence to your company - so it asks you to identify your registered agent. If the state sends correspondence there, they will expect your company to receive it. In many cases, clients use their office or home address. In other cases, we can engage a Registered Agent service for $100-$200. Some clients prefer this for anonymity.

What is a Series A?

Series A refers to Series A Preferred Stock, or a type of stock that companies issue when they are raising money from investors. It provides the investor with certain advantages over the common stock in the Company, like veto rights over certain decisions and they are first in line for any liquidation or sale of the Company.

How long does a startup formation take?

We can have documents ready for review within 48 hours. Filing with the state can take 5-10 business days.

Are there any additional fees for startup formations packages?

Creating an LLC in Washington typically costs $200 in state filing fees.

Can I form a startup on my own or should I hire a business lawyer?

While you can form a business entity on your own, many clients prefer working with a legal professional who can answer questions about long-term planning and have the comfort of knowing the formation was done correctly. In addition, many business owners use this as an opportunity to introduce their business to a lawyer and start a relationship with a business lawyer.

Can I form a company anonymously? How do I form an anonymous LLC?

We assist clients in forming entities on an anonymous basis by filing in Wyoming, which does not require public disclosure of the identity of owners.

Important Legal Issues When Launching a Business

A presentation by Alykhan Sunderji for new business owners and legal issues they should consider.
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About Alykhan

Find out more about our founder and how he can assist you in being prepared for an ever-changing business landscape.
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