Legal Setup for a Project
Last updated
Last updated
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Legal setup of a project allows you to provide information on:
Legal Details
To update legal details for a project, perform the following steps:
1.Click on the required project and click Legal from the Operations tab.
You can also navigate to Legal from the Vertical Sidebar navigation menu. Click Operations and then select Legal.
2.The Legal Edit page appears. Click Edit to update the legal details.
3.The Edit Legal Details page appears. Update the following details and click Update:
Based on the type of Entity Type selected, the fields will vary accordingly.
Field
Action
Common Name
You cannot edit this field. The common name is the name of the project and this field is setup in the Basic setup of a project. You can edit this field in the basic setup.
Formal Name
Enter the formal or the legal name of the project.
For Example:
Incorporate Project: ABC Project Inc
Series LLC: ABC Series of LF Projects, LLC
Directed Fund: ABC Project Fund
Unincorporated Project: Use the common name
Legal Parent
This field provides info on the legal entity of the project.
You should not enter any values in this field. This information will be gathered from Joint Development Foundation Projects, LLC" or "LF Projects, LLC".
This field is appliable to Series LLC projects.
Parent Object
Enter the parent project under which this project is created.
Formation Date
Enter the formation date or the agreement date when the project was created.
Dissolution Date
Enter the dissolution date when the project will be terminated.
Entity Type
Select the required entity type.
Series LLC - Projects that are created under LF Projects, LLC or Joint Development project.
Incorporated Entity - Projects that created as separate incorporation where LF provides services under a MSA (Management Services Agreement) to the project entity.
Subproject - Projects that are created under Unincorporated projects under the Linux project entity, some of which will be Directed Funds.
Incorporation Document
You can update the incorporation document details here.
Incorporation Document URL
Enter the incorporation document URL.
Policies URL
Enter the policies URL.
Governance Document
You can update the governance document details here.
Governance Document URL
Enter the governance document URL.
Manage Services Agreement
Enter the manage services agreement details.
Manage Services Agreement URL
Enter the manage services agreement URL.
Manage Services Effectivity
Enter the manage services effectivity.
Manage Services Expiration Date
Enter the manage services expiration date.
