I'm planning to file a Delaware LLC for a partnership where I'm the majority owner of our self-funded startup.
One key goal for me is to incorporate a vesting option among owners where equity is a reflection of capital, time, and execution put into the product. I've already reached out to another lawyer and below are estimates that I was given:
- Certificate of Formation and Delaware filing fees: $500
- Limited Liability Company Operating Agreement: $1000
- Subscription Agreement for you: included in fee
- Subscription and Equity Restriction Agreement (with repurchase provisions): $1000
- Joinder Agreement for you and other individual to become Members: included in fee
- Inventions Agreement: $500
- Promissory Note: $500
My concern is that the lawyer is complicating this in the interest of ensuring protection of the majority owner (me).
From your experience, are all these documents necessary and at the costs suggested?