The Biggest Paperwork Pitfalls and How to Avoid Them w/ Darby Wong

Seed Money

When you build a business, you aren’t just creating a product, you’re also setting up a legal entity. The legal side of things can be daunting (and expensive), especially when you intend to raise capital in the near or far future.

Before you can even think of approaching investors, first-time founders have to make sure they have the legal ducks in the row, and that can be a costly exercise if done through traditional attorneys.

You could easily spend tens of thousands of dollars setting up the legal side of the business, and still get something wrong. That’s where Clerky comes in. They leverage tech to bring costs down and make the process of getting your paperwork together more efficient. You could have everything set up in as little as a week and for a fraction of the cost.

How can entrepreneurs set things up right the first time and not create issues down the line? What do you have to be thinking about if you’re planning on raising money?

How do you set up stock options that won’t disadvantage your early employees later on? In this episode, I’m joined by co-founder of Clerky, Darby Wong. He shares how their company helps early-stage entrepreneurs get the legal side of things done, common pitfalls and startup trends.

Topics Covered

-The pitfalls many first-time founders and entrepreneurs end up in

-How to set yourself up to raise future rounds

-How to get your stock option paperwork set-up correctly

-Startup trends (including one surprising one)

Guest Bio

Darby Wong is the co-founder of Clerky, a platform that streamlines legal paperwork for startups through automated document generation and electronic signatures. With a background in computer science and a law degree from Harvard, Darby combined his expertise to address inefficiencies in early-stage startup legal processes. After practicing law at Orrick in Silicon Valley, he co-created Clerky to provide cost-effective legal solutions for early-stage entrepreneurs. Go to http://clerky.com/ to get started.

Host Bio

Jayla Siciliano, Shark Tank entrepreneur turned real estate investor, excels in building brands, teams, and products. CEO of a bi-coastal luxury short-term rental company, she also hosts the Seed Money Podcast where she’s on a mission to help early-stage entrepreneurs turn their ideas into reality!

Connect:

Website: seedmoneypodcast.com

Instagram: @jaylasiciliano

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