Put a crowdfunding-ready constitution in place before your raise opens up

A standard constitution may be workable for a company with a small number of shareholders, but crowdfunding usually changes the governance picture. Once a larger investor group is expected, the constitution often needs clearer rules on share rights, notices, voting, transfers and future share issues. It may also need to sit properly alongside platform requirements or other investment documents. The point is not just to have a constitution in place, but to have one that can operate sensibly once the cap table becomes more crowded and administrative demands increase.

That depends on the company and the raise, but common areas include share classes, pre-emption mechanics, transfer restrictions, voting arrangements, drag and tag style provisions, communications with shareholders and procedures for issuing further shares. Some businesses also need the constitution to work alongside an existing shareholders agreement or founder arrangements. The drafting usually turns on the actual funding structure and governance goals, not just on the fact that crowdfunding is planned. We can help identify which points are likely to matter most in your setup.

We will usually need your current constitution or articles, details of the proposed raise, information about existing shareholders and any platform wording or requirements already provided. It also helps to know whether there are different share rights, founder control points you want to preserve, or future investment rounds already in view. Those details affect whether a targeted amendment is enough or whether a fuller rewrite makes more sense. If another authority or platform has its own process, If regulator or authority requirements affect your matter, we will talk you through the practical next steps..

Sometimes a platform precedent is a useful starting point, but it may not fit neatly with your existing share structure, founder arrangements or longer-term fundraising plans. A template may be written for a more straightforward company than yours, or it may leave gaps when read alongside your current governance documents. Review is often worthwhile where there are existing investors, multiple share classes or specific control settings the founders want to keep. We can assess whether adapting the available wording is realistic or whether a more bespoke update is the safer route.

Timing depends on whether we are updating an existing constitution or preparing a more substantial redraft, and on how settled the fundraising structure already is. In many matters, the first draft can be prepared within one to two weeks once we have the relevant information and any platform requirements. If comments are coming from several stakeholders, or if the constitution needs to align with other investment documents, that can add time. One round of amendments is included after you review the draft and raise your comments with us.

Working with us is simple. Start by submitting an enquiry through our website using the form at the top of this page or on our Get Started page. A legal project manager will review your enquiry within 1 business day and reach out to understand your needs.

They'll send you a fixed fee quote outlining costs, scope, and timing. If you're happy, you can accept and sign our engagement letter online. Once that's done, we'll connect you with an expert lawyer who will complete your project via email, phone, or video chat, with the timing confirmed in your quote.

If you're not looking for help with a specific matter, explore our platform, which offers free templates, tools to get your business set up, and even a free tier to get started. Whether you need legal support or just want to browse resources, we've got you covered.

At Sprintlaw, our pricing is transparent and designed for startups and small businesses. Many one-off legal services, including document drafting and reviews, are provided for a fixed fee with an upfront quote before you proceed.

Prices typically range from £100 to £1,500 depending on the complexity and scope of the work. For ongoing support, Sprintlaw Memberships include options such as legal templates, consultations, a legal helpline and credits for services.

If your project is larger or more complex, we will provide a tailored quote after understanding what you need.

Sprintlaw UK operates fully virtually, with the team working online across the UK to provide support to startups and small businesses nationwide. Many of our team are based in London and often meet at co-working offices, but our operations remain fully digital, ensuring flexibility and efficiency for both our clients and team.