As the company, how do I correctly fill out a Stock Power as part of a stock purchase agreement?
The Stock Power in question evidently is an exhibit to a Stock Purchase Agreement by which the OP is purchasing restricted stock that is subject to forfeiture or repurchase by the company, entirely or in part, probably based on how long the OP continues to work with the company.Yes, just signing is the proper thing to do (from the company’s perspective) because at this time it is not known whether, or to what extent, the OP’s shares will be subject to forfeiture or repurchase.So, if and when the time for forfeiture or repurchase arrives, the company will fill in the rest of the Stock Power to transfer the forfeited or repurchased shares to the company - you will keep the shares that have vested as of that time.For the OP’s comparison, and for the benefit of Quorans who are not familiar with such Stock Powers, here is the text of the instructions that I put at the bottom of a Stock Power:(Instruction: Please do not fill in any blanks other than signing at the signature line. The purpose of this Stock Power is to enable the Company to exercise its right to reacquire Restricted Shares in the circumstances provided in the Restricted Stock Agreement without requiring an additional signature by the Grantee.)
As a business owner, what online/offline templates would you benefit from having (e.g. a template to fill out and send invoices, business plan templates, etc.)?
One awesome highlight of ZipBooks’ invoice templates is that you can save default settings like your notes and payment terms for your invoices once you nail down the details of what exactly should be on your invoice. Using ZipBooks for your invoice means never sending off an invoice without your own company information on it (oops!). They actually score your invoice based on what information you include and so you'll be able to leverage the data we've collected from tens of thousands of invoices on what things are important to get you paid faster.Here are a couple tips on things that you will get you paid faster and should definitely be included on your invoice:Company logo: This is part of the invoice template that we provide for you. You'll save a company logo under company settings and you'll never have to think about whether your invoice template header looks good again.Notes: Thanking a customer for their business will always make you stand out in a crowd and leverages the psychological principle of reciprocity so that you get paid faster. Lots of studies show that including a thank you note gets you paid faster. I think that would especially be true when someone is getting a big bill for legal services.Invoice payment terms: Another great free feature of ZipBooks invoice templates for legal services (and anyone else who used our invoice templates for that matter) is that when you put terms into an invoice, we automatically detected it and set a due date for you. If you don't set terms, we assume that the invoice will be due in 14 days. This is the due date that we use to drive the late payment reminder and to display the number of days that a invoice has been outstanding in the AR aging report. If you don't want to set the invoice payment terms every time, you can set it up once under Account Preferences in the ZipBooks app. Pretty neat, right?Customer information: This one might seem pretty straightforward but it should always be on the list of "must haves" when thinking about what you should put on your invoice.Detailed description of bill: ZipBooks' invoice template lends itself to the ability to show a detailed account of everything that you have charged since you last sent an invoice. You can do that by manually entering the invoice details or you can use the time tracker to automatically pull in billable activity once you are ready to send the next invoice for your legal services.
Where can I find good templates for agreements used to govern the relationship between the co-founders of a company?
While it is possible to find just about anything on the Internet, including a ready-to-sign co-founder agreement, you’d be wise to consult an attorney before deciding on which document you’ll use.State laws and industry-specific legislation could make these generic agreements inadequate for your purposes. Plus, different business structures will have their own particular restrictions as to what should be included in these documents. Still, there are some components that are common to most co-founder agreements.Below are some of the most important provisions for an agreement governing a general partnership (but note that an LLC or an S-Corp would require very different documents):Names of the parties to the agreement: Include the name of your company and the names of any co-founders. Right off the bat you’ll need to think about how your company might end someday: The document should state for how long the agreement will be valid, and how it might eventually be dissolved.The company’s purpose. This statement should be carefully delimited: broad enough not to be too restrictive, but specific enough to be meaningful. You and your partners can change it later, but it’s best to give this verbiage some thorough consideration in the beginning.The financial contribution of each founder must be documented in detail. How much will each founder contribute? Will all contributions be made at the company’s inception, or will the document contain a provision that allows the company to demand such contributions as needed? The same care should be taken with expenses: You and your lawyer would do well to eliminate any loopholes that would allow your partners to head to Vegas on the company dime every weekend.The taxation procedures for your company. Our example here, being a general partnership, is a “flow-through” entity, meaning that the company itself will not be taxed, the founders will pay taxes on their individual returns. Still, all of this needs to be said in the agreement. It may also be wise to name one of the co-founders as the primary point of contact for any tax issues or inquiries.The members’ responsibilities to the company. And their opportunities outside of the company. Many agreements include non-compete clauses to prevent founders from participating in business ventures that compete with the interests of the startup, or from owning significant amounts of stock in competing companies.How the money will flow from the company to the founders: Lay out exactly how cash will be distributed. You should also establish the criteria for approving investments. Typically all partners must agree to accept money from any investor.On the other side of the coin, taking on debts is obviously a matter of prime importance to all parties as well. The agreement should specify the procedure for approving an action that causes the company to incur debt.The co-founder agreement should also protect the partners from having their company sold out from under them. The document will establish the terms for selling off the company, or selling any of its physical or intellectual property. Intellectual property is another important consideration here. An invention that is related to the mission of the company, and created by a founder on company time, should probably be the property of all co-founders equally. But what about something created by an employee? Or created by a co-founder on his or her own time?If such an issue ever arose, you’d have to resolve it somehow, and the co-founder agreement is a great place to lay out exactly how. Everything looks rosy when you’re starting your company, but you never know: Things could turn contentious someday, and you could even need to remove a partner. Likewise, just as you might not be able to consider giving up your company now, there may come a day when you’ll want to sell it, or sell your stake.All of these considerations should be addressed in the agreement. It’s always better to take care of such matters early, before emotions start running high. It’s also smart to step back and talk to a lawyer who has been through the startup process before, to address any potential problems and start your business off on a solid foundation. Feel free to check out LawTrades, a legal startup for startups. Our legal platform makes the legal experience painless and affordable. We offer free price quotes & flat-feeing pricing. Hope this helps.
Intellectual Property: Could you point me to a good template for copyright transfer agreement?
This is such common need and occurence. So glad you're being smart about making suure you receive full copyright & IP ownership to your work. I actually created Kunvay to solve this exact problem which I was having myself https://www.kunvay.com/But more importantly if you want to learn more about copyright and IP check our blog designed specifically to help consumers and producers of creative work understand copyright & intellectual property. Here's a useful post to start with You Don’t Own Your Logo (and Why You Think You Do): Why Copyright Transfer Matters
When flipping houses, how do you structure your purchase agreement to your advantage?
It’s been said by many real estate gurus in many different ways: “you make money when you buy a property, not when you sell it.” Most brokers advise their flip buyers to focus on price and financing when structuring a purchase offer. Those are just two of over two dozen variables that can make a flip purchase offer both attractive to sellers and profitable for the flipper.Since I’m still an active broker and the detailed strategies I recommend to clients are my proprietary stock in trade, but I’ll share a few general strategies flippers should consider:Ask the seller questions that reveal their motivation for selling and the selection criteria they will use when considering offers. Few buyers take time to do this or know what questions to ask.Solve the seller’s problems. Answers to questions regarding the seller’s needs and motivation often uncover problems that buyers can solve and thereby gain a favorable position over other offers. Sometimes the solution costs money, sometimes it doesn’t.Look for opportunities to offer terms that cost you nothing financially but reduce the purchase price.Know the market for the specific property. Some flip opportunities receive dozens of offers the first day they’re on the market, others may sit for weeks before a reasonable offer is submitted. Look for properties that others pass on because they only look at the surface.