Systems

Overview of systems that OCV Ops establishes throughout the formation process, which founders will rely on to run the business.

Systems setup is kicked off immediately after the entity structure is chosen and progresses simultaneously with legal processes. During the 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 the legal entity formation process; these include:

1. Domain name: May involve registration of a new name or the transfer of an existing name owned by the founder

2. Company email: Founder email address and group emails for the company’s support teams

3. Virtual Mailing Address: To be used for the majority of business purposes. A physical address will only be used in certain cases, where required, such as KYC for banking

4. Registered Agent: Point of contact with the state, ensuring that important documents like lawsuit notices (service of process) and compliance deadlines are reliably received and forwarded

5. Foreign Qualification (if applicable): Registration in additional state(s) in order to operate legally outside of where the company is incorporated (e.g., employee residing in the state)

Banking & Credit Card Setup

OCV will set up a bank account for the company and manage the SAFE funding process. Additionally, a corporate credit card account will be created for the company to manage payments and expenses.

CTOs will have full access to these accounts as designated Control Persons and may be required to complete KYC steps as part of the bank and credit card application process.

Beneficial Ownership

A beneficial owner is an individual who owns 25% or more of the company in question either directly or indirectly, including founders.

Control Person

The CEO should be named the Control Person for the new company's finance system applications. If there is no CEO, then the company's named CTO.

Any one single individual with significant responsibility for managing the company, such as an executive officer, managing member, general partner, or vice president.

Additional Core Systems

After SAFE funding, additional core systems will be set up. These include:

1. EOR account for payroll and as an HRIS

2. Equity management account

3. Secure password management vault

Optional Business Tools

DUNS Number

A DUNS (Data Universal Numbering System) number is a unique nine-digit identifier issued by Dun & Bradstreet to track global business entities. It helps establish a company’s credibility, enables access to government contracts, and is often required for partnerships or credit applications. Businesses use it to streamline identity verification and build trust with vendors and clients.

A DUNS number is offered for free by Dun & Bradstreet. To obtain one, simply register and create an account on their website. It typically takes about 30 days for the number to be issued.

This number can be created as needed at the CEO's discretion. If a DUNS number is obtained, we ask the CEO to share it with OCV so it can be logged in the Ops platform for reference.

Publicly Listed Phone Number

Beyond the virtual telephone number that founders receive during system setup, companies sometimes need a publicly listed phone number. You can create an additional line through the virtual telephone system as needed — just be aware that these numbers tend to attract sales calls.