Corporate Focus, Version 4.1

Corporate Focus, Version 4.1

As a technology-savvy business attorney, I have often lamented the laborious and inefficient “manual” method of tracking my corporate clients’ information. Indeed, forming new corporations was just about the only time I found it necessary to sit down at the ole’ IBM Selectric III and type. Unfortunately, no matter how hard I tried to type the name, amounts, etc., on the stock certificates, I always made a mistake — thank God my Selectric has a correction tape.

While case/practice management software is able to track the rudimentary basics, such as officers, directors and events, it’s impossible to authorize and issue stock, create a capitalization table and generate a stock ledger from an off-the-shelf practice management software program. As a result, I was forced to bounce back and forth between my case management software, word processor and spreadsheet to track my corporate clients’ information. That is until I installed Corporate Focus.

At its core, Corporate Focus is a relational database that allows a user to enter, edit and view virtually any relevant piece of corporate information. The software tracks the basics, such as shareholders, directors, filings/qualifications, addresses, meeting dates, etc. However, the real power of Corporate Focus is its powerful reporting capabilities. The software includes more than 100 customizable reports, such as stockholder and stock option reports, summary sheets and more. Just about any report that would be useful is included, and can be customized or created.

From the main “Company View” screen, you can view contact and address information. Also, you are within one mouse click of viewing or editing the upper tab controls, which include “Basic Data,” “Description,” “Identity,” “Client,” “Officers/Directors” and “Other.” The lower tab controls consist of “Minute Books,” “Securities,” “Filings” and “Other.”

The software does everything from authorizing, issuing, transferring and printing securities. If for example, a corporation does a 7-to-1 split, Corporate Focus automatically can “edit,” “add” or “replace” the affected securities. Stock certificates can be printed using the templates that come with the program.

Version 4.1 also includes new features for older versions. Highlights are:

Stock Options — Options can be tracked and securities for each option issued can vest according to standard or custom formulas.
Capitalization Table — Tracks stockholder and stock option information. It can tell you who owns what shares by class/series with totals and percentages when acquired, and how much they paid or will pay.
Online Minute Book/Document Linking — Images of key documents can be linked from within Corporate Focus, allowing the user to view previously created documents. The linking feature supports any format (i.e., Word, PDF, TIFF).
User Based Security — Restricts information access.
Print Written Consents — Prints written consents based on the date stored in Corporate Focus.

The Corporate Focus programmers use standard Microsoft Access “Tab Controls” and “Sub-Forms,” which make navigating especially intuitive. The screens are well laid out and the information easily viewed or edited. One particularly useful screen is the “Company Summary” screen, which displays most of the key information on one scrollable page.

As a small firm attorney with a limited budget, I almost passed out when I learned Corporate Focus costs $7,500 for two users. Two-Step Software’s pricing policy limits use of the software to large firms or solo/small firms with a substantial corporate practice. It’s unfortunate that Two-Step doesn’t market a “junior” or “limited” version of the software that, for example, allows tracking of a limited number of entities or shareholders for the practitioners who might have a small number of privately or closely held corporate clients.

Two-Step Software Inc.
(800) 252-2454
www.twostep.com

Price: $7,500 for first 2 users, $2,500 for each user thereafter; $2,500 for first three read-only users, $500 for each user thereafter.

Windows NT/2000/XP.

Reviewed by Michael W. Newcomb, Mayfield & Associates, Solana Beach, Calif.

Oct/Nov '02 Issue

PROS
Comprehensive entity tracking system.

CONS
The price. Few solo and small firms will be able to justify the privilege.

VERDICT
I rate it a 4.5 out of 5.