15 Essential Startup Legal Docs
Updated: Aug 1
This article shares some of the legal documents that we used during Zelt's journey to date. This is a great starting starting point for any new founder, COO, or people lead in The U.K.
Share Option Related Templates
ASA Conversion Template
An Advanced Subscription Agreement (ASA) is an equity instrument where investors ‘pre-pay’ for shares in a company. Investors will hand over money to the company but will only receive the shares when they are issued at a future round. This document is used to confirm the conversion of outstanding ASA agreements
Convertible Raise - Shareholder Resolution Template
A template to issue a shareholder resolution for a convertible raise
EMI Valuation Application Report
The first step in the process for a HMRC valuation for the issuing of EMI options is a valuation report. Within the report you will need the following two things
Unrestricted Market Value - This is the market value of all shares as if they had no restrictions and could easily be bought and sold at the current worth of the company at the time.
Actual Market Value - This is the market value of the shares after they have been restricted
The second step involves completing a VAL231 form, which can be found here
EMI Option Agreement Template
An EMI agreement gives the grantee (employee) the right to exercise the option to subscribe to shares within a specific time period
Non EMI Option Agreement Template
A Non-EMI option agreement template between the company and employee, which allows the employee to acquire shares in the company under specific conditions
Company Related Templates
Affiliate Agreement Template
An affiliate agreement is an agreement between a merchant and an affiliate ,whereby the merchant pays the affiliate a fee for referred customers
Companies House Filing Template
A template used to file any ordinary or special resolutions with companies house
*Resolutions refer to significant business decisions that take place within board meetings or AGMs. An ordinary resolution is one that requires a simple majority to pass, whereas a special resolution requires a 75% majority and is usually used for a significant change such as, a change of name or structure
Non Disclosure Agreement Template
A non disclosure agreement is a legally binding document that captures a confidential agreement
Assignment Of Intellectual Property Rights Template
An intellectual property assignment is the transfer of an intellectual property so that the assignor is no longer the owner of that right
Board Minutes
A template for board minutes, which are used to help directors ensure they are sticking to the rules by stating that in making a particular decision, the directors have considered their duties.
Employment Related Templates
Advisor Agreement Template
This document is a legal agreement between you and an advisor you hire. It sets out the expectations and obligations between your company and any advisor
Non Executive Director Letter of Appointment Template
A non executive director letter of appointment is a formal agreement that appoints somebody as an NED to a company. The letter lays out the responsibilities and the obligations of the NED within the company's board
Employment Contract Template
A standard template for employment contracts (read more on the risks of not providing a contract of employment)
Internship Agreement Template
A standard template for internship contracts
Visa Sponsorship Application Template
You need a sponsor licence to employ most types of workers from outside the UK. In order to gain a sponsor license by completing an application form and paying the relevant fees to the Home Office