legal-setup-for-a-project.md

Legal Setup for a Project

Legal setup of project allows you to provide information on:

• Legal Details

Editing Legal Details

To update legal details for a project, perform the following steps:

1.Click on the required project and click 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:

{% hint style="warning" %} Based on the type of Entity Type selected, the fields will vary accordingly. {% endhint %}

Field	Action
Common Name	You cannot edit this field. The common name is the name of the project and this filed 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 nam
Legal Parent	This field provide 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.