Eternity Law International — News — Formation of the ICO project

Formation of the ICO project

Published:
May 7, 2018

Forming an ICO project is not only a difficult process, but also requiring legal literacy. Incorrectly written documentation or unaccounted for nuances can have serious consequences for the project.

Therefore, it will apply for help in a consulting firm – a rational solution, both for beginners and for already experienced companies.

WHO WILL APPLY FOR CONSULTING SERVICES TO CREATE ICO PROJECT

First of all, it is necessary for those firms that want to legally work with crypto-currencies and Blockchain. Creating an honest business that takes into account all legal and tax risks is not an easy matter.

Especially if it is a question of realizing a really good and workable project.

However, it is quite problematic to take into consideration all nuances on its own, and studying the legislative base can take a very long time. So much that the idea of ​​the project can be realized by someone else or just lose its relevance.

Spent money for this kind of services more than pay off after all, because the more qualitative documentation, the more investors you can attract.

MAIN SERVICES OF CONSULTING COMPANIES TO CREATE ICO PROJECT

Primarily, the service provider carefully studies the project. Based on its characteristics, the algorithm of work and optimal jurisdiction are chosen.

Consultations and assistance of a competent lawyer may be necessary at any stage.

  1. While working on internal documentation. We are talking about the preparation of securities based on the activities of the company. Very important is the compilation of White paper, which should take into account all the nuances of legislation. At this stage, interaction with state bodies is being established.
  2. When developing mechanisms for selling tokens, due to which they cannot be equated to a currency or a security.
  3. Reduction of tax risks. The lawyers of the consulting firm are working on the project and distributing the burden on all participants of the process, proceeding from the laws on the CFC.
  4. Working out, so-called, compliance-measures, which reduce the risks of the creators of the project. Based on the legislation of the specific jurisprudence of a certain country, an individual method of work is worked out, which makes it possible to avoid treating the token as a type of securities.
  5. Writing of such AML / KYC documentation that will prevent getting under the laws on combating the legalization of illegally obtained income.
  6. Carrying out work to avoid falling under the laws on insider trading and market manipulation.
  7. Work on the internal mechanism of work, based on the legislation of the selected jurisdiction.

ADVANTAGES OF CONSULTING SERVICES

Qualified lawyers independently study the documentation of the company and the project. There is no need to delve into a lot of new terms, especially when it comes to the first draft of the ICO.

All documents will be carefully tailored to a particular jurisdiction, which is chosen depending on the features of the project.

All mechanisms of investments and their distribution are studied as much as possible. Thus, the funds are legally competently divided between developers, users, consultants, stock exchanges and other project participants.

When you are ordering consulting, you do not have to worry about choosing a bank and the mechanisms for withdrawing the funds. The same is true of their adoption – all options for obtaining investment will be carefully worked out.

If necessary, the process of licensing the company’s activities will be carried out. It is convenient and allows more attention to be given to the study of the project itself, without delving into financial and legal nuances.

It will be very convenient for professionals to address the issue of personal liability risks. In order to avoid any problems with the creators and initiators of the project, you need to work out a huge amount of information and develop an accurate plan of action.

Without experience, this is difficult to do. Therefore, in this matter, too, it is worth turning to a consulting firm.

In addition, you can free yourself from correspondence with investors, this will be done by professionals. There is no need to worry about legal literacy of correspondence.

In the event that you need an escrow agent when working with a project, you should also consult a consulting firm. It can act as such an agent itself or find a new intermediary who will act as guarantor of the transfer of funds within the ICO project.

If a dispute arose over the project, the assistance of specialists will be indispensable. These are both state courts and various other kinds of disputes, arbitration courts. Careful study of the case and the legislation relating to it will become a guarantee of successful termination of the dispute.

ACTIVITIES IN THE CREATION OF THE ICO PROJECT

The most common service is the development of the ICO project on a turn-key basis. This implies legal advice at all stages, beginning with the selection of jurisdiction and ending with the method of withdrawal of the received funds.

Experts fully study the documentation and prescribe the mechanisms. Assistance is provided in registering the company and opening bank accounts.

Consultations in the field of legal status of the Cryptocurrency. Now there is a process of constant changes in the legislation and attitude to the crypto currency, its regulation varies in different countries.

Get advice on which countries work best and what nuances exist in the current legislation is just possible in such a firm.

Accompaniment of mining projects. It is a question of detailed consultations on the course of conducting mining activity. All processes, whether purchase of equipment, formation of a corporate structure or licensing of activities, will be analyzed in accordance with all legal aspects.

Crypto consulting. This applies to all new projects that are related to the crypto currency. This service includes the development of documentation, marketing plans and various consultations.

The escort is not only for legal issues, but also technical assistance. Clients are provided with the most appropriate solutions, based on the latest changes in the world legislation.

Eternity Law International specialists will help you quickly create an ICO project of any complexity, and will lead it from the beginning to the end of the required period of work. To learn more about the benefits of cooperation with the company, please contact us through the Contacts section.

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