Working with Advisors

June 25, 2017

No matter how experienced you and your employees are, you cannot expect to have all the skills and knowledge your business needs, particularly as requirements change as your business grows. Growing businesses continually face new problems and opportunities. Advisors can be a good solution to get the advice your business needs. It is important to manage your relationships with them.

Non-executive directors are appointed using a Non-executive Director’s Letter of Appointment (LOA). Non-executive directors do not run the business day to day. They normally work only part time but provide expertise that deepens the experience of your business and can make you more attractive to investors.

It’s often mutually beneficial to compensate an advisor with shares in your company, and this can be agreed with a Founder Advisor Standard Template (FAST). This rewards the advisor with a small amount of equity if they reach certain targets. You could also reward a consultant through a Share Vesting Agreement.

Claim your free trial. Start drafting legal documents with Dragon Law today.

Read More

Read More

Selling Goods & Services

A legal agreement for the sale of goods helps to make your customers aware of their rights and obligations from the moment you start doing business with them. If you are selling goods, you will need a Sale of Goods Agreement. It typically covers a description of what is to be bought, the price, delivery or collection conditions, returns, and how the agreement comes to an end.

Use a Supply of Services Agreement when one business provides services to another. This agreement describes the scope of services provided as well as the service levels, timescales, the fees to be paid, and how to change or terminate the agreement.

Start managing your legal needs with Dragon Law today.

Read More

Read More

Rewarding Staff

A company can attract employees and incentivise existing employees in numerous ways. Giving employees equity in the company is a popular way for startups and fast-growing companies to reward their key employees for their performance.

A Share Vesting Agreement grants shares to the employee, but these shares are subject to a repurchase option so if the employee leaves the company or is dismissed then the company can buy back the shares for the nominal value of the shares. The shares are released from the repurchase option over a period of time, and this document governs how and when the shares are fully released to the employee and what happens to the shares if the employee leaves the company.

An Option Agreement is an offer from a company to an employee that they may purchase a pre-determined number of shares in that company at a pre-determined price. It operates as a type of security that gives the holder the option, but not the obligation, to buy the shares at this particular price. If the value of the shares has increased in the meantime (which is usual in a growing company) then the employee can make a substantial gain if they exercise the option.

Start managing your legal needs with Dragon Law today

Read More

Related Documents

Register your Trade Mark

Protecting your intellectual property is a vital step in protecting your business. When managed properly, a trade mark has the potential to become one of the most valuable assets of your business. Dragon Law has helped hundreds of businesses register their trade marks. We ask you a few questions and guide you through the process. We do the paperwork and manage the application for you. It’s fast and easy! Contact
us to register your trade mark today.

Start managing your legal needs with Dragon Law today.

Read More

Related Documents

Purchase Orders & Invoicing

A Purchase Order is a document between a supplier and a buyer that confirms a purchase. It details the items the buyer agrees to purchase at a certain price. It also outlines the delivery date and terms of payment for the buyer. Purchase Orders make the purchasing process more efficient and allow for better inventory and payment tracking.

An Invoice is a document issued by a seller to a buyer. It identifies the seller and the buyer, the items sold, the quantities, the prices, any discounts, and delivery and payment terms. An Invoice also serves as a demand for payment and hence helps a healthy cash flow.

Claim your free trial. Start drafting legal documents with Dragon Law today.

Read More

Related Documents

Like what you just read?


Subscribe to our newsletter and be the first to hear of the latest Dragon happenings, tips and insights!