Crowley Law LLC provides life sciences and other technology startups with strategic guidance on drafting comprehensive business agreements that provide a framework for smooth business operations, facilitating continuity and expansion. Below are two of the different types of business agreements available to life sciences and other tech companies:
A stockholders’ agreement is a legally binding contract among the stockholders of a corporation. It is designed to safeguard stockholder interests and facilitate smooth business operations. We recommend considering the following factors when drafting a stockholders’ agreement for your corporation:
An operating agreement is a legally binding document that details a limited liability company’s operational processes, governance, structure and ownership. It helps define the rules for running the business and the rights and responsibilities of the members. Crowley Law LLC will work with you to help confirm that your operating agreement covers all critical considerations, including:
Drafting a comprehensive and robust business agreement offers numerous advantages for your life sciences or other technology startup:
Details each party’s rights, roles and obligations. Clarity is crucial in preventing conflicts and misunderstandings.
Specifies the sources of capital, each participant’s contributions and the sharing of losses and profits/ dividends.
Provides a framework for resolving disputes, helping to accelerate dispute resolution and sustain a good business relationship.
Guides the exit and admission of members or stockholders, enabling business continuity.
Protects a startup’s trade secrets and intellectual property from internal and external threats.
Ongoing advice and oversight by Crowley Law LLC helps your startup comply with relevant rules and laws, provides a legal basis for running the business and helps avert legal disputes.
Every business is unique. Whether you have elected to form a corporation or an LLC, you have unique needs that you wish to capture in your business agreements. At Crowley Law LLC, we are dedicated to helping you define comprehensive and tailored agreements that meet all your personal and business needs.
We will advise you on how to make your business agreement comply with all relevant local, State and Federal laws. We will also guide you on specific regulations that may affect your startup.
We will draft agreements customized to your startup’s specific circumstances and needs. We will also help confirm that all relevant clauses are included in your business agreement.
We will help you identify potential risks to your business and include provisions in your corporate agreement to mitigate these risks.
We will include detailed and lawful mechanisms to resolve disputes in your business agreement to help you avoid expensive litigation. We also help clarify dispute resolution clauses so all parties understand their rights and obligations.
We will draft clauses that protect your startup’s intellectual property. We will also include confidentiality agreements to protect your trade secrets and sensitive business information.
We will draft detailed clauses addressing financial reporting, capital contributions and profit distribution. If you elect to establish an LLC, we will also help you develop clear and comprehensive operational guidelines.
We will provide ongoing legal support and advice as your startup grows.
Here are the dangers of failing to draft a comprehensive business agreement:
You should prepare a stockholders’ agreement when forming your corporation. You could also create a new agreement when significant changes occur or when forming strategic alliances and joint ventures.
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