OCV Public Handbook/🏢Company Formation/📄Step 7: Systems setup

Step 7: Systems setup

During company formation stage, OCV companies follow a set of standard systems to ensure a smooth and efficient launch process.

Initial systems

Some initial systems are required to initiate legal entity formation process, these include:
  1. Domain name
    1. May involve registration of a new name or the transfer of an existing name owned by the founder
  1. Company email
    1. Founder email address
    2. Group emails for the company’s support teams
  1. Virtual Mailing Address
  1. Registered Agent

Banking setup

OCV will set up a bank account for the company and manage SAFE funding process. Founders will have full access to the account and sometimes required to complete KYC steps as part of the bank application process.
For recommended best practices on Banking see
Bank Accounts & Management

Core systems

After SAFE funding, OCV will work with founders to set up other core business operations systems. See
Launch Day Checklist
for additional details.
A DUNS number will also help with verification and legitimacy for even startups at the earliest stages and help facilitate certain business relationships. Setting up an Apple business account will help facilitate purchases and returns of computers.