EasyLex, the platform that helps you constitute your company online

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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

Creating a company is not easy and when talking about legal issues things get complicated, as shown by statistics that indicate that 90% of entrepreneurs do not have legal protection for their company, because the costs are high, delayed, and in most cases unknown.

In addition, setting up a company can take three weeks to a month and it is necessary to contact a law firm or go directly to the notary, a process that can cost up to 30,000 pesos – but, if the registration was not successful and does not apply to the needs of the company, then it is necessary to make modifications, which can represent a similar price to redo the procedure.

These problems were realized by Yaritza Rodelo and Andrea Durán, lawyers graduated from Tecnológico de Monterrey, who created EasyLex, a platform that automates the process of creating companies in eight business days.

“We had already worked in firms and we already knew what it was like to do things in a traditional way. We saw that in Mexico there is very little innovation in legal matters, so we said: 'We really like the law, we want to exercise it but do it in a different way'. Then it occurred to us to automate the process of creating a business for the user,” said Yaritza.

It specifies that, although there are processes that are done in a traditional way, for the user it is completely digital, they only need to enter the platform, answer a survey of eight questions such as the name of the company, where it is located, who are the partners and what Percentage has each, pay online and collect the charter.

To date, EasyLex has helped to establish more than 35 companies and they expect to close the year with 180, the turns are varied, but mostly they are startups in growth or seeking investment. The company also received investment from “Agave Lab Venture”, which helped them create the minimum viable product.

"The entrepreneurs, for the most part, are young people who are used to buying on Amazon with just one click, and we try to resemble this process."

The platform also has e-books and blogs, where it explains step by step what is necessary to form a company in legal matters. "Explained in Spanish, with pears and apples, so that the entrepreneur can read the two pages, and reading that document can understand which is the company that best suits his turn."

Prices vary depending on the entity and type of company, but a base amount of 8,500 is charged and can reach 12,000, for the price of registration fees, which vary throughout the Mexican Republic.

YOUR COMPANY IN FIVE STEPS

The first step is to answer an eight-question questionnaire that covers the name of the company and the percentage of each of the founders. Once they answer the questions, they make the payment online and the IDs are uploaded to see the first draft of the bylaws, which is the first version of its charter.

From this point, EasyLex takes care of the rest of the process, which consists of the personalization of the bylaws and corporate purpose; the second point is passed, which is the authorization of the name by the Ministry of Economy, for this the user is asked for five name options and, as soon as the authorization is received, the delivery time begins to run, which is of five days.

"Our guarantee is that once we have the authorization, in five or eight business days the minutes are ready," he said.

The third point is the formalization before a notary public, where it passes from draft to constitutive act, at this point the company is assigned a notary in the user's city and as soon as the act is ready it is notified.

“The only thing that the user has to do is go to the office to collect the constitutive act because there are certain requirements of law that are met when the user goes. The first is that by law the partners have to pity, sign it and show their original identifications, ”this is the fourth step.

The fifth and final step is to download the registration form on the platform.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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Acerca de Lucas Vargas:

  • Empezó en Grupo ZAP como el VP de Sales y en 2016 cuando la empresa tenía 60 empleados. Fue nombrado COO de VivaReal tomando el mando de Brian Requarth el Co-Fundador. VivaReal lanzó en Colombia y se trasladó a Brasil. En 2017 se hizo CEO del Grupo ZAP.
  • Ha trabajado en Mexico en PWC y en el Banco Santander
  • Tiene un Master de Business Administration de Harvard
  • En noviembre este año después de la fusión de OLX Brasil y Grupo ZAP fue nombrado el CEO del OLX Business Unit. Lidera la empresa junto con Andries Oudshoorn y Marcos Leite
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Simon Baker is the Founder and Executive Chairman of Online Marketplaces and Property Portal Watch. Involved with property portals for 15 years, he’s a well-recognized expert and industry consultant.
As former CEO/MD of the REA Group for 8 years, Simon led the group to its current market-leading position. When he joined REA Group in 2001, it had $4m in revenues, $6m in losses and an $8m market cap.
By 2008, the company presided over $155m in revenues, $35m in EBITDA and enjoyed a peak market cap of $1b. Simon is currently Chairman of the Mitula Group and Real Estate Investar and a serial portal founder and, investor.