The LLC Formation suite of Tools includes formation documents, operating agreements, checklists, templates, transmittal letters and other supporting documents to complete the state-specific formation and operation requirements of LLCs, which are the vehicle most frequently chosen by small-business entrepreneurs. Subsequent phases of the Start-up Advisor Toolkit project will integrate data flows between the Founders’ Terms Sheet Generator and the LLC Formation Tools.
This Project is aimed at transactional law clinics and will consist in large part of state-specific LLC formation templates and other tools, bringing with it a range of service-delivery and instructional benefits including more efficient and better quality document preparation and numerous resources offering guidance about the various choices to be made when forming an LLC to better equip (and encourage) attorneys to offer counsel to low-resource entrepreneurs.
The LLC Formation Tool is up and running in several jurisdictions (DE, MO, NC, NE, PA, and UT) and has begun deployment in partnership with law clinics in additional jurisdictions as a way of jump-starting the next stage of state-specific expansion. The Project has been updated and technically redesigned so that all supported jurisdictions are represented in each of the templates so users can now automatically configure templates to a specified jurisdiction. This “multi-jurisdictional approach” has added tremendous efficiencies to the project.