Legal Services on Shoobx


The attorneys our customers choose have a big impact on how they make the most of the Shoobx platform, and because of this we have partnered with attorneys who have adopted Shoobx as part of their practice to bring our customers Legal Services on Shoobx

For companies that incorporate on Shoobx and plan to use it for their first equity financing, we now have a legal services offering to take startups from formation through their first fundraise. If you’re a company that is thinking about incorporating on Shoobx or recently incorporated your company on our platform, read on!

 

The Offer: Legal Counsel for All Things Shoobx

 

Legal Services on Shoobx provides fixed fee corporate legal representation from a participating attorney for all actions executed in the Shoobx platform from incorporation for up to twelve months, or up until your first equity financing (whichever comes sooner). When it’s time for your Series Seed or Series A fundraise, your company counsel legal fees will be capped.*

 

*Exclusions apply, see FAQ section below for details.

Your First Equity Financing: Capped

 

An equity financing is a huge milestone for your company, and Legal Services on Shoobx will help you be prepared and move through the process in an efficient and cost-effective way. Companies participating in Legal Services on Shoobx will work with their attorney to use the Shoobx equity financing workflow to get your financing done.

Costs

 

Fixed fee and capped equity financing costs vary by attorney—you can learn more by exploring attorney profiles on Shoobx Spark. There is also a 3% administrative fee that applies to all companies using Legal Services by Shoobx. For more details about costs and how they are invoiced, please review our FAQs below.

Shoobx-Certified Attorneys 

 

Shoobx is partnered with Shoobx-Certified attorneys who work with companies participating in the Legal Services on Shoobx program to provide legal advice and help them take action for their company using Shoobx workflows, all for a fixed monthly fee. If we have a template for it, it’s covered. Get reliable, expert advice and guidance, all at a predictable price point.

 

What does it mean to be a Shoobx-Certified attorney?

  • A positive track record with clients on Shoobx
  • Leveraging Shoobx for complex activities
  • A commitment to ongoing training on the Shoobx platform


Are you an attorney who wants to work with clients on Shoobx? Email us at
info@shoobx.com.  

Ready to Get Started?

 

If you’re a company that wants to raise money and is comfortable using technology, and want to find an attorney that shares those values, then this might be what you’re looking for.


Once you have created your account on Shoobx, you can apply directly through our platform for access to this offering. All applicants are subject to approval, and company participation is currently limited to companies headquartered in Massachusetts or New York that have recently incorporated or plan to incorporate on Shoobx.

 

Get Started on Shoobx

Frequently Asked Questions

What Isn’t Included In My Fixed Fee?

Anything outside of Shoobx, including legal documents drafted and prepared outside of the platform, will be billed at standard attorney rates. This includes areas such as disbursements, taxes, intellectual property (IP), and litigation. For more details on what is and isn’t included in Legal Services on Shoobx, please refer to the Legal Services on Shoobx Terms.

What exactly is included in my capped equity financing work?

Attorneys in this program leverage Shoobx’s equity financing workflow, and their representation includes:

  • Negotiation and preparation of term sheet, financing, and ancillary documents via Shoobx;
  • Diligence, including cap diligence necessary for customary legal opinion (if/when required);
  • Disclosure schedule preparation;
  • Closing mechanics;
  • Post-close activities (stock certificate prep, complying with state securities laws); and
  • Creation/adoption of Option Plan, Grant agreements, if applicable (in or out of Shoobx).

How do I get started with Legal Services on Shoobx?

To get started with Legal Services on Shoobx, you must incorporate on the Shoobx platform. You can then apply directly through your Shoobx account, and your application will be reviewed for a match with our participating Shoobx-certified attorneys. Please note that at this time only companies headquartered in Massachusetts or New York can participate in Legal Services on Shoobx.

What activities are not included in the capped equity financing fee?

There are certain activities related to a fundraise that are not included in the capped fee: fees for counsel on the other side of transactions;
clean up activities related to investor due diligence; disbursements; and specialized legal services, for example tax, IP, or regulatory. Once it’s time for your equity financing, you can work with your Shoobx Startup Package attorney to understand what is and isn’t included in the capped fee.

What stage companies can participate in Legal Services on Shoobx?

Only companies that have recently incorporated or plan to incorporate on Shoobx can participate. Companies that have already issued founders shares or raised seed capital are too far along for this program. However, please stay tuned for expanded offerings in the future!

Do you have additional questions? Please email us at info@shoobx.com.