How it works
Troutman Pepper Locke has long served as a trusted adviser to entrepreneurs and emerging businesses
Troutman SEED’s holistic approach affordably packages the resources of an experienced, multi-disciplinary team into an alternative fee structure that includes essential legal documents and legal counseling for companies that are accepted into the program. An initial $2,500 fee is applied as a retainer against initial counseling.
INITIAL DOCUMENTS
We provide the following basic documentation free of additional charge:
- incorporation or LLC formation documents
- founders’ shareholders agreement or operating agreement stock restriction agreement (with vesting provisions)
- 83(b) election form and instructions form of employee non-disclosure agreement
- form of consulting agreement
- form of third-party non-disclosure agreement
- form of equity incentive plan and agreements.
Customizing these documents and initial counseling are 25% off our standard rates against the retainer.
ONGOING COUNSELING AND OTHER SERVICES
Phase I
Until the earlier of the company’s first significant financing, significant 12 months of revenue, or first 18 months of our engagement, we provide the following services at a 25% discount to our standard rates:
- corporate counseling
- contract preparation and review
- copyright, trademark and patent counseling and prosecution
- employment and benefits counseling.
All other services, excluding litigation, are 10% off our standard rates. If approved, we will defer payment of fees for up to $25,000, dependant on scope. (If the company is sold before the deferral period ends, deferred fees will become due.)
Phase II
After your first significant financing, significant 12 months of revenue, or the first 18 months of our engagement, our services will be at a discount to our standard rates, as agreed to and reviewed annually.
Phase II of the program is open to companies that meet the criteria, even if they have already received significant financing.
