Business formation
Before the company
starts making decisions.
Formation work connects ownership and governance documents to the people who will build and run the business.
The starting point
How will the owners work together?
Who contributes what, who can make which decisions and how a disagreement will be handled are business questions as well as legal ones. A formation conversation brings those expectations into the open before the documents are prepared.
The work may include considering an appropriate structure, organizing formation documents and recording governance arrangements. The available options depend on the business and the legal context.
The documents
Turn an understanding into a working record.
Formation and ownership documents describe authority, responsibilities and the arrangements for change. They should be read alongside the owners’ intentions for funding, participation and decision-making.
The process includes reviewing the draft, identifying unresolved points and making sure the people involved understand what has been agreed.
Preparing the conversation
Tell us what you plan to do.
A short account of the planned activity, the people involved and the decisions already discussed provides a useful starting point. Detailed ownership or financial information can be handled through an agreed process after the initial conversation.
Discuss formation work