Democratizing Entrepreneurship: Online Documents, Tools, and Startup Know-How

Posted: 29 Mar 2018

See all articles by Praveen Kosuri

Praveen Kosuri

University of Pennsylvania Law School

Date Written: December 29, 17

Abstract

New ventures are inherently cash strapped. The entrepreneurs who start them are typically doers — problem-solvers who will find a way within given constraints. For most entrepreneurs, the legal formalities of a new venture are low priority at best and unnecessary bureaucracy at worst. No startup wants to expend scarce resources on what it perceives to be legal formality. Whether a venture is a limited liability company, C-corporation, or S-corporation, it will not exist if it has no product, sales, customers, or strategy to compete in the marketplace. This is a truth across all new ventures whether community-based, socially conscious, or high-tech and high growth. Online tools have recently emerged that address this issue by making it easier for entrepreneurs to comply with formalities. These tools also democratize access to legal documents and startup know-how for all types of entrepreneurs. Maybe most significantly, open source startup documents allow ventures outside major metropolitan areas newfound access to the same documents used in entrepreneurial epicenters such as Silicon Valley, New York, and Boston.

Keywords: Startups, Venture Capital, Emerging, Online, Do It Yourself, Silicon Valley, Wizard, Legal Tech, Technology, Web, Portal, Automation, Formation, Forms, Document, Self-Help

JEL Classification: K12, K22, K19, O3

Suggested Citation

Kosuri, Praveen, Democratizing Entrepreneurship: Online Documents, Tools, and Startup Know-How (December 29, 17). Available at SSRN: https://ssrn.com/abstract=3152490

Praveen Kosuri (Contact Author)

University of Pennsylvania Law School ( email )

3501 Sansom Street
Philadelphia, PA 19104
United States

Register to save articles to
your library

Register

Paper statistics

Abstract Views
166
PlumX Metrics