The Constitution is an agreement between the shareholders of a company, and the company itself, about how the company is going to be run. General Standards specialises to tailored constitutions that are built specifically for modern, fast-moving startups, enabling fast decision making and providing the framework for common events like capital raising and ESOPs.
Every Australian startup should have a modern constitution that makes company functions straightforward and efficient. Constitutions generally set the rules for processes like appointing and removing directors, making decisions, holding meetings, issuing new shares, creating share classes, dealing with assets in a winding up. Without a Constitution, your startup relies on the way the Corporations Act handles these matters – which by default makes these processes slow and antiquated.
A Constitution from General Standards also contains the provisions usually used by the shareholders and investors in early stage startups, including more detailed director and shareholder decision making provisions, information rights, share scheme allowances, drag and tag along provisions, IP protection, shareholder restraints and investor share classes. This combines practicality with the important specific governance provisions needed by startups to bring multiple shareholders on board and invest in growth.
Our lawyers are experts in structuring shareholder relationships.
The Constitution is tailored to your specific needs.
We make sure the Constitution is fully adopted.
You have a startup-specific, rock solid set of company rules in a single document.