For Lawyers: Why Companies Need Lawyers to Use Our Platform

Introduction

Our platform is designed to support good working relationships between companies and their legal counsel. The platform brings additional transparency, collaboration, and efficiency to your work with clients. To help ensure that companies working on our platform are getting the guidance they need from their legal counsel, we prevent companies from accessing certain workflows until they register their legal counsel on our platform. In addition, when companies initially join our platform, they are required to consent to the following statement: "Our platform cannot offer legal advice, and [user] needs to have [their] own legal counsel."

This article lists several workflows below that are unavailable to companies who have not yet registered their legal counsel. This helps ensure that companies get the legal advice from their team on important company actions.

If you're looking for additional information on how companies establish relationships with their lawyers on our platform, please visit the following articles: 

• Register Legal Counsel
• Setting Preferences for Counsel Involvement 

If you need any additional help, reach out to our support team at lawfirmsfps@fmr.com. 

Workflows that require legal counsel

Corporate Structure 

• Change Company Name

Government Filings

• Employer Identification Number (EIN)
• IRS Form 3921

Human Resources 

• Add Employee
• Add Contractor or Consultant
• Amend Consultant or Contractor Agreement
• Employee Job Change
• Update Organizational Chart

Equity

• Grant Shares or Options
• Request 409 A Report
• New Stock Incentive Plan
• Amend Stock Incentive Plan
• Change Authorized Shares or Par Value
• Stock Option Exercise
• 83 (b) Election
• Amend Grant or Add Vesting
• Capture Custom Vesting Event
• Repurchase Shares
• Stock Transfer or Secondary Sale
• Exchange of Stock
• Cancel Grant
• ASC 718 Stock Options Report
• Stock Split
• Warrant (upload)
• Warrant Exercise
• Update Size of Flexible Grant or Warrant

Financing

• Convertible Note
• Additional Convertible Note Closing
• Equity Financing Term Sheet
• Equity Financing
• Additional Equity Financing Closing
• Amend Note Purchase Agreement
• Simple Agreement for Future Equity (SAFE)
• Keep It Simple Security (KISS)

Fidelity Private Shares LLC provides cap table management and other administrative services to private companies and their equity compensation plans.

Fidelity Private Shares LLC

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