I'm in the process of registering a private limited company and planning to onboard a couple of key team members with equity-based compensation. I’ve heard about ESOPs and also need to create some custom service agreements with vendors.
My questions are:
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Is it legally mandatory to hire a lawyer for issuing ESOPs in a private limited company?
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Can custom contracts and employment agreements be drafted without legal help?
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Are there any MCA compliance filings or formats required for ESOP implementation?
Also, I'm using Taxlegit for Private Limited Company registration and they’ve been helpful, but I want to know what part needs actual legal opinion versus what can be handled by a compliance consultant.
Would appreciate insights from company law experts or anyone who has issued ESOPs in early-stage startups.
Thanks in advance!