CounselX P.C.
Corporate & Strategic
Formation, founder agreements, governance, equity documents, and financing preparation for startups and closely held businesses.
Umar Farooq leads every matter.
Nineteen years of practice. More than a thousand companies advised since 2012.
Get in touchOverview
Get the ownership and decisions in writing.
Who owns the company? Who can make important decisions? What happens if a founder leaves? CounselX helps document those answers and keep the records current. The work also covers equity arrangements, financing documents, negotiated shareholder buyouts, and the cleanup an investor or buyer will expect.
How we help
How CounselX can help
01
Formation and organization
Entity formation and organizational documents for new and restructuring businesses.
02
Founder arrangements
Roles, ownership, vesting, departures, decision rights, and deadlock provisions.
03
Governance and approvals
Board and shareholder approvals, governance records, and ongoing corporate housekeeping.
04
Equity documentation
Equity documentation, cap table cleanup, and the ownership records a round or a buyer will check.
05
IP assignments
Founder, employee, and contractor IP assignments and confidentiality arrangements.
06
Employment and equity compensation
Employment, consulting, advisor, and equity-compensation agreements.
07
International expansion
Foreign subsidiary formation and intercompany arrangements for companies expanding abroad.
08
Financing and exit readiness
Ownership records, approvals, IP rights, and material contracts organized for diligence.
Tax, jurisdiction-specific, local employment, and securities advice is coordinated separately.
Working together
Working together
Project
Formation, founder agreements, financing documents, and equity cleanup can be handled as projects.
Get in touchOutside General Counsel
Recurring governance work may fit Outside General Counsel.
Explore ongoing counselTax, accounting, local-law advice, and specialist filings are separate.
Experience
Representative experience
Formations and operating agreements
Delaware and state formations, including operating agreements with multi-class unit structures.
Approvals and cap tables
Board and stockholder consents, capitalization tables, and cleanup ahead of financings.
Departing-shareholder buyout
Share purchase agreement, IP assignment, and assignment and assumption agreement for a shareholder's exit.
Client matters are described without identifying details. Prior results do not guarantee a similar outcome.
See representative mattersQuestions
Common questions
Do we need to be a venture-backed startup?
No. CounselX works with founders and closely held businesses across industries. The documents should fit the ownership structure and business plans, not a standard startup model.
What should founders agree on early?
Equity, roles, decision-making, vesting where appropriate, and what happens on a departure or deadlock. The company’s rights to founder and contractor IP also need to be documented.
Can you help when an owner leaves?
Yes. Work can include a negotiated buyout, payment terms, IP assignments, continuing obligations, and the approvals needed to document the change. If the parties disagree, conflict review comes first and each side may need its own counsel. Tax advice is separately engaged.
Can you help with a financing round?
Yes. Work may include the cap table, approvals, IP assignments, diligence materials, and financing documents. Securities requirements depend on the offering; specialist advice and filings are coordinated separately where needed.
Can we promise equity informally?
Get advice before making the promise. Even an informal offer to a friend or contractor can raise ownership, securities, tax, or employment issues.
Do you provide tax or accounting advice?
No. Entity choice and equity arrangements can have tax and accounting consequences. Those advisers are engaged separately from CounselX’s legal work.