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· The Post Incorporation Workflow (Upload Guide)

Updated

Introduction

Post Incorporation lays the foundation for your company's governance and operations. This workflow will allow you to upload your executed documents that set the rules for how your company makes decisions. The steps and screenshots in this article will walk you through the entire post-incorporation workflow.

If you have not yet generated these documents and would like to do so to get started, please see the Post Incorporation Workflow Step by Step article. 

The Post Incorporation Process

This workflow is broken up into these steps. Click the links below to jump to that section of the article: 

Getting Started

The starting page for the Post-Incorporation Workflow gives you an overview of the process. Click on the link that says Already completed your post incorporation documents? to get started. 

Confirm Eligibility

Review if there are any terms in your incorporation documents and Bylaws that may prohibit you from using Fidelity Private Shares. Please read through your documents and be sure that electronic means are a viable method by which you can run your business. Answer the questions and click Continue. 

NOTE: if you answer no to any of these questions, you may not be able to use Fidelity Private Shares. You can still finish the post incorporation process but will need to get in touch with our Support team before you can start using the platform. 

Define Founder Documents

Specify documents that have been drafted outside of the platform and should be uploaded to your Data Room for record-keeping purposes.

List Company Officers

List the officers for your company. At minimum you must list the President and Secretary. The platform will allow for these to be the same person if applicable. You can also add additional officers if needed.  

Record Stock Distribution

In this step, you will record the stock distribution for the founders, who have received the initial equity in the company. Click Add Founder. You will be asked to provide stock issuance information, including the number of shares and vesting details. Repeat this step if there are multiple founders. 

If you answered previously that there is no stock issued, this step will be skipped. 

 

Provide Corporate Officer Approval Documents

Provide the documents from the board approving the appointments of your company officers. Click the Provide Document button to upload the document from your computer or select an already uploaded document from the Data Room, and specify the type of board approval.

Please note that if you defer the documents, you will have a Missing Document alert next to your Data Room folder. For record keeping purposes, you will want to upload this document into your Data Room at a later date. 

Confirm Document Version

You will be asked to confirm that all information provided, and documents uploaded, during this workflow are current and still accurate as of today. Check the appropriate boxes to confirm and click Continue. 

Provide Founder Documents

Provide all founder documents confirming your founder's shares. This step will not be necessary if you have not yet issued stock.

Click the Provide Document button. This process will start a sub-workflow, if applicable, that will ask you questions about the nature and details of the founder's stock you have issued. The sub-flow will also ask you to upload the Subscription Letter, Stock Restriction Agreement, a Proof of Payment document, the Board Approval for the shares, any Confidentiality and IP Assignment documents, and any IP Contribution Agreement documents that may have been executed.

Upload Stockholders Agreement

Provide the executed document for the company's Stockholder Agreement for the Founder's Agreement.

Upload Board Approval

Upload the executed Board Approval for your company's Founder's Agreement. Enter the Effective Date, and specify the type of approval. 

Checkpoint

At the Checkpoint you will be asked to review all documents that you have uploaded during the workflow. 

Invite New Users

If you have added any users during the workflow, you will be prompted to invite them to your account. Click Invite to send an invitation email to the new user. Otherwise, you can invite the users at a later time.

 

Founder Stock Certificates

If you have executed Founder stock certificates, they can be uploaded, or can be deferred and uploaded later. You can also choose to generate new stock certificates. Click Provide Documents and select either to upload or defer the certificates, or to generate new stock certificates. 

Wait for Signatures

If you are generating new certificates, a task will be sent to the company officers set previously in this workflow. Once all necessary signatures have been collected, the workflow will continue. 

Review

At this point, the Post Incorporation workflow is now complete. You will see a summary page with links to the documents you uploaded during the workflow. These documents are also now in the Data Room and can be accessed at any time.

You will be prompted to register your legal counsel so you can unlock all of the available workflows in Fidelity Private Shares. 

Click Continue to close out of the workflow. 

 

Additional Resources and Next steps

EIN: Your Employer Identification Number

Register Legal Counsel

Setting Up a Stock Incentive Plan

Screenshots are for illustrative purposes only.

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