June 24, 2022
Robin AI helps Ownership create a new way to start a business by making contracts simple. Discover how Robin AI has given start-ups, formed on the Ownership app, the legal backing, assurance and accountability to bring team members on board to work for equity.
June 24, 2022
The hardest, and arguably the most important, step for entrepreneurs is getting their business started. High start up costs, regulatory hurdles and other obstacles can stop entrepreneurs from bringing their ideas to life and to market.
Ownership is on a mission to change this with their novel approach to creating and managing a business. Its app-based solution means that a new business can be set up in minutes. In addition, Ownership is a new way for founders to incentivise teams. Ownership companies automatically distribute equity to team members in exchange for hours logged and tasks completed.
There is no doubt that Ownership is creating a fairer, simpler and more accessible way to start a business. Ownership clearly have a strong foundation to help start-ups attract and grow their teams. But until now one key tool was missing, a contract that would help founders formalise working relationships with their teams. It was up to companies to create their own contracts off the platform. As a company that is addressing obstacles (such as limited resources) that early stage companies face in achieving their goals, this lack of contract simplicity was an issue.
Moreover, Ownership recognised that without a legal backing in place, it impacted the confidence of new businesses to join the platform.
“It can’t be overstated how much a solid legal framework gives confidence to our users." - Naïma Camara, Founder & CEO, Ownership
The team at Robin AI is perfectly suited to working closely with clients to make contracts simple, a process that can often be opaque and time-intensive. That’s why Ownership partnered with us to put together a contract template that any company getting started on Ownership could use.
“We’d recommend Robin to anybody. We’ve never worked with any group of legal professionals with such a talent for making the process so clear, transparent and approachable." - Naïma Camara, Founder & CEO, Ownership
Both teams worked collaboratively at every stage of the process. In only two short calls, questions around the contract were discussed, feedback was shared, and an agreement was reached on Ownership’s key requirements. In a rapid turnaround time of just under a week, Ownership received the contract template from the Robin team.
“We’re thrilled to be partnering with Ownership to support them on their mission to create more opportunities for the next generation of entrepreneurs, one contract at a time." - Richard Robinson, Founder & CEO, Robin AI
It’s been two weeks since Ownership started offering the contract template to a sample of businesses on their platform. They’ve been really impressed with the results so far. Particularly for converting new businesses, they’ve noticed a 25% higher conversion rate since providing information about the contract.
The partnership is forming a key part of early conversations with start-ups, as they want to lay the right foundation for their businesses to avoid founder conflicts in the future. As of this month, every new business will receive access to the customisable contract created with Robin.
Naïma Camara, Founder and CEO at Ownership explained to us the benefits, impact and value they’re already seeing from partnering with Robin AI:
“It provides accountability and assurance when bringing new team members on board to work for equity. It’s also been a great discussion point when we are talking to investors, who immediately ask about the legal implications of our solution."