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Below is our recent interview with Kenneth Laurin, CEO at Minit:
Q: Could you provide our readers with a brief introduction to Minit?
A: The majority of law and accounting firms still manage corporate records by keeping storage rooms full of binders and minute books. We specialize in transitioning small and medium sized law firms and lawyers into the 21st century, in the management and the generation of corporate records. We utilize a cloud-based software application called Athennian, which specializes in digital document management.
Q: Can you give us insights into your features?
A: Athennian provides a full entity management platform through the creation of entity and personal profiles. Once the information is inputted, templates are automatically generated and can be sent for electronic signatures as soon as a transaction or change occurs. If there is a share issuance, for example, all the required documentation and share subscriptions would be generated and signed within the application, drastically reducing the time spent on document creation and eliminating the administrative effort surrounding retrieving physical signatures.
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Q: What are the legal implications of a digital minute book?
A: The vast majority of jurisdictions worldwide recognize digital files and electronic signatures as legal documents, either explicitly through legislation or through historical legal precedence. In fact, a digital minute book is often more secure than a physical binder due to digital security and privacy protection standards.
Q: What is the biggest challenge you’ve faced in your business and how did you overcome it?
A: The largest challenge we’ve faced in our sales process is educating our clients on the benefits of digitization. Large law firms already have digitization practices in place, but smaller firms often miss out on the value added by having a digital strategy. By introducing a free trial period and focusing on customer education in our marketing, we’ve been able to see increased engagement and excitement about what we have to offer.
Recommended: Q: What are your plans for the future?
A: We currently only service firms based in Alberta but plan to expand to multiple provinces over the course of 2019 as our team grows and as more law firms begin to invest in digital strategies and realize the increased capacity that comes with cloud-based document management solutions.
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