How it works

SEED I Program

If accepted into the SEED I Program, you will have access to the SEED I Program and resources until one of the below SEED I Milestone Events is met:

• your first significant equity or debt financing,
• significant trailing 12 months of revenue,
• sale of the company, or
• 18-months following the commencement of our engagement.

As part of the SEED I Program, companies have access to a robust set of Initial Key Documents designed to help you start on the right foot. This Initial Key Documents package includes:

• Certificate of Incorporation and Bylaws
• Shareholders’ Agreement or Founders’ Equity Agreement
• Restricted Stock Agreements with vesting provisions
• EIN Application
• 83(b) election form and instructions
• Confidentiality, Non-Disclosure and Assignment Agreements
• Consulting or Advisor agreements
• Form of equity incentive plan and related form award agreements

Customizing these documents and providing initial counseling are offered at a 25% discount off our standard rates, subject to SEED Program terms.

In many cases we will defer an agreed amount of fees until a SEED I Milestone Event is reached, and the nominal retainer amount is applied toward the deferred fees.  In addition to access to the Initial Key Documents package, SEED I participants also receive the following services at a 25% discount off our standard rates:

• Customizing the Initial Key Documents package
• Contract preparation and review
• IP filings for trademarks, copyrights and patents (utility and provisional)
• Labor, employment and employee benefits counseling
• Privacy and data security counseling including data use and incident readiness
• Industry-specific regulatory guidance.

All other services, excluding litigation, are provided at a 10% discount.

Most importantly, SEED I clients have access to attorneys with industry expertise such as health care, insurance, biotechnology, fintech, national defense, government contracting, energy, oil and gas, construction, and more.  Access which is unique and provided at stated discounts to standard rates.

SEED II Program

Once your company reaches a SEED I Milestone Event, you will transition into the SEED II Program. In addition to organically transitioning from the SEED I Program to the SEED II Program, certain companies with the right trajectory can qualify for the SEED II Program without going through the SEED I Program.

SEED II continues to provide access to Troutman Pepper Locke’s full platform of services, with annual review of fee discounts and scope, including:

• ongoing support for additional financing rounds, venture debt and strategic transactions;
• expanded commercial, intellectual property, technology and regulatory support as you scale;
• strategic M&A and corporate venturing counseling.

SEED II legal services are available to companies that meet program criteria, including those that have already raised significant capital before joining the program. Companies are typically in the SEED II program for up to two years before they transition out of the SEED II Program.

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