Thoughts On Corporate Records Automation

Glider's Contract Management & Collaboration Workflow

Glider’s Contract Management & Collaboration Workflow

With the volume of start-up activity and number of individuals involved, founders would be smart to employ new services that use online work-flows and back-ups to manage various corporate transactions.

Two such services for corporate records automation have come to the market recently and I’d thought I ‘d mention them and also cite another area of innovation that the start-up community could benefit from.

The first to start-up with is Clerky.com: According to their website, they provide incorporation services, form corporation documents, and electronic signing. Limiting only to incorporation in Delaware.  Concerns are raised for other legal issues that may crop up regarding arbitration jurisdiction.

The second, recently announced, is Glider.com: Contract workflow processes. Whether this service handles contract generation or just document management,  if the service will eventually handle contract forms and use templates like the aforementioned Clerky.com – or strictly contract management and collaboration and electronic signatures remains to be seen. The space for business services with legal documents is certainly active.

The trend for online services to expand the scope of the successful Legalzoom.com reach, could ostensibly happen by including workflow and electronic signing.

Another area of innovation that founders would benefit: a corporate board minutes system, keeping track of notes, board resolutions, e-signature for each of the members, automatic shareholder ratifications. And most importantly, back-ups so that corporate records don’t go missing.

Gmail has had a discovery litigation back-up tool called Postini.com. No doubt that has been the main repository for corporate documents to date for those doing start-ups. Founders would be wise to be careful and diligent about backing up, and keeping strict records regarding corporate actions, lest dissenters take the lack of information to their advantage.

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