A legal blog on private funds, startups, and venture capital.
A legal blog on private funds, startups, and venture capital.
Last month, I wrote about the four stages of startup capital – (1) the seed round, (2) the angel round, (3) the venture round, and (4) the bridge/pre-IPO stage round. This month, we’ll take a look at what startups need to…
When it comes to incorporating a startup, founders often file articles of incorporation (a.k.a. a charter or a certificate of incorporation) with their state’s secretary of state and stop there. They think that the filing is enough to form the…
In October, the SEC finally completed its implementing regulations to Title III of the JOBS Act, more commonly known as the “crowdfunding” exemption. The 600-page release can be found here. I’m not going to bother summarizing these regulations, as so…
When advising startup clients, I frequently recommend that they subject the shares issued to their founders (as well as those issued to any equity-compensated employees and contractors) to a vesting schedule. This conversation often leads the founders to look at…
