We have a strong commitment to supporting entrepreneurs and innovators who are looking to start and grow new businesses. We also recognize that the cost of high-caliber legal services – an essential component in building the foundation of a strong business – can be daunting. With that in mind, we offer the following programs:
Our mission is simple. From incorporation through important milestones, we strive to create value by providing superior legal advice and business counsel to protect and advance the interests of our clients. Our culture of respect and professional excellence are key factors in how we respond to our clients' needs.
Materials and Advice
We have a number of memos entrepreneurs find helpful in choosing the entity to be used for start-up company organization, understanding and planning for allocation of equity including vesting of founders’ equity, agreements between the company and its stockholders relating to sale and transfer of equity, and raising convertible debt or equity capital from angel investors and ultimately from institutional investors.
Some of the startup company memos we can share with entrepreneurs include:
Startup Incorporation Package
We offer basic incorporation packages for start-up Florida C Corporations or S Corporations for $1,500 in legal fees plus Florida state filing fees (about $100) and registered agent fees (about $225 per year unless someone from the company serves as registered agent) . State filing fees for incorporation in Delaware are approximately $750 and this will require an additional qualification filing in Florida. We can obtain discounts on annual registered agent fees in Delaware from CSC to about $240. The price for legal services will be higher if founders want to negotiate terms with each other or make substantive changes to the basic forms we use. We enter into an engagement agreement with each of our clients. Legal documents provided in the start-up incorporation package include the following:
HIT (Helping Innovators Thrive)
Select promising entrepreneurs and innovators who have won a business plan competition or have successfully raised startup capital, for example, may apply for substantive assistance through our HIT (Helping Innovators Thrive) program.
The Locke Lord LLP HIT program is a program designed to help promising young companies and entrepreneurs with innovative technologies or innovative business models by providing flexible billing arrangements in the form of discounts, deferrals and / or awards of legal services. HIT arrangements have been entered into with clients in many of the Firm’s offices. Our HIT clients have included: an obesity drug company; a company developing technology to manufacture plastics from non-petroleum based, sustainable, biodegradable resources; a popular social media website used by students in over 300 universities; a company that has developed an innovative funding model for the agricultural industry; a social enterprise company that develops solutions to minimize the presence of counterfeits in emerging markets; and a company providing social networking-based online health and wellness services.