Yes. Law firm users can create new company accounts from the Law Firm Portal by clicking Set up new client :
The Law Firm Portal offers law firms two onboarding methods:
- Manually build the cap table: After creating the company account, law firms use bulk Excel imports to complete the cap table. This option is best if the company is not coming from Carta:
- Import from Carta: After creating the company account, law firms export 4-6 report from Carta and upload them as-is. This option automatically recreates the cap table in AngelList Equity for the law firm to review. Note: do not make any adjustments to the exports before uploading to AngelList.
The cap table will be in "draft mode", and the company admins (founders, etc) will not be invited until the a law firm user has reviewed the cap table.
A law firm user can return to the onboarding later by accessing the company from the Law Firm Portal:
The stages of onboarding:
- Incomplete onboarding - the law firm started to set up a new account, but no account has been created yet. This makes it easy to come back later and finish up.
- Onboarding - the law firm created the account, but the account lacks at least a share class and one share certificate.
- Pending Company Review - the law firm has invited the company admin(s) to review the cap table, but they have not accepted it.
- Pending Stakeholder Invites - the company has accepted their cap table, but stakeholders have not been invited to their individual portals yet (where they can view/manage their holdings)
- Live - Active account
Stages appear next to the company name in the Law Firm Portal's Overview table:
Once the law firm has reviewed the cap table and invited the company admins, the admins will have access to the cap table where they can select a plan and pay. The law firm's discount will automatically be applied at checkout.
The company won't be able to invite stakeholders to their dashboards, issue new securities, exercise options, etc until they have subscribed to plan.
There is a 15 day grace/free period for onboarding. If the onboarding will take longer than 15 days, please contact AngelList for an extension:
The law firm is still in the loop. Throughout the cap table, company admins can select "loop in your law firm" calls-to-action. From there, they can send you notifications to ask for your support.
Once you've downloaded the template, fill out the 14 tabs with the necessary information. In each tab, the required columns will be noted with black cells; all other information is helpful to include but optional. Be sure to complete the tabs in the order presented. This will ensure you are taking advantage of all data validations, which will reduce errors.
After an initial review of the cap table tables and charts in the software, the most thorough method of auditing an import for accuracy is to download the detailed version of your client's cap table by navigating to Equity > Reports. Select Detailed Cap Table Report to export a file that you can review to ensure all information was input accurately:
You can send invite emails to stakeholders (so they can access their portals) by navigating to Equity > Stakeholders. Select the checkbox next to Name in the top left to select all stakeholders. Once all stakeholders are selected, click Bulk Actions on the top right to Invite Stakeholders:
It's a good idea to send a warm introductory email to stakeholders before they receive the automated invitation from AngelList. For your convinience, we have provided some suggested messaging here.
Parter law firms can extend 20%+ discounts to their clients automatically from their Law Firm Portals. Don't have a portal yet? Reach out to firstname.lastname@example.org with some details about your firm.