More and more business owners are choosing to ditch the old paper and binder minute books and switch to an online platform to keep all legal information in one place. The benefits are obvious: core information is accessible from anywhere, it's easier to collaborate, and the business will save money in the process. But the biggest advantage is probably the least well known: greater transparency and understanding of the legal underpinnings of your company. Let's dive in.
Papers, Binders & Dust
The old way of managing the legal side of a business had problems. It typically was a collection of documents in a binder that remained on a shelf. Business owners rarely had visibility into what all of these documents meant and how they affected their company.
Over the course of the year, when business owners actually needed to access and understand core details of their business, the information simply wasn't available.
Thankfully, there's a better way.
Core Legal Information: Available Anytime, Anywhere
You're at the bank and you need your company's corporation number and CRA business number. Or maybe you're speaking with your accountant and you need to understand which shareholders have certain classes of shares. In the past, this information would have been unavailable, prompting a call to your lawyer or a trip home to obtain your legal documents.
But what if you could access all this information on your phone or your laptop? What if your employment agreements, incorporation documents and other legal information was available to you at all times? Better yet, what if you could not only understand and access this information, but make changes to your company going forward. This is where additional benefits compound for your business. You won't simply be saving money, but you'll be able to save time and have more transparency into the legal side of your business.
Founded for Existing Companies
Founded is not just for new companies. If you have already incorporated a company and still want to take advantage of Founded to manage your company online, it’s now easier than ever to get started.
We’ve completely overhauled our onboarding pages, creating a simpler experience that makes it easy to manage your legal matters online. Head over to Founded and click the “Get Started” button. A few quick questions and you’re on your way: enter your jurisdiction, select 'Existing', and search for your company, either by name or by corporation number. Now you’re ready to take advantage of Founded and make managing your company a breeze.
What does Founded have to offer?
Onboarding with Founded ensures that you have all the necessary incorporation documents, and if you’re missing any, Founded will prepare them automatically. Even after you’re set up correctly, there’s still more that needs to be done. Every year, you will need to file Annual Returns with the government and prepare annual shareholder and director resolutions. Failing to do so can result in the dissolution of your company. Founded makes this process easy, and sets reminders to ensure everything is completed on time and above board. Finally, beyond merely keeping your company compliant, you want your company to grow. Founded provides all the tools you need to manage this growth, from legal agreements, to Employee Stock Option Plans, and so much more.