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The Legal Side of Entrepreneurship

YoungUpstarts

This past summer, the Lightspeed Summer Fellowships program invited selected guests to provide aspiring entrepreneurs a perspective into all aspects of starting a new company. The program provides entrepreneurs the resources and mentoring they need to build their companies and develop their skills. Convertible Securities.

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Do It Right The First Time, Part II: Visit the Doctor or House Call?

Gust

I urge all entrepreneurs to consult and develop a good working relationship with a qualified startup lawyer. Form a legal entity to operate the business (we’ll use a Delaware corporation as an example for Newco). Consummate the stock issuances, make any necessary securities filings and issue the corresponding stock certificates.

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What Is the “Walker Startup Package”?

Scott Edward Walker

Incorporate in Delaware and qualify the company to do business in the state in which its principal office is located (see #2 here ). Button-down IP ownership and assignment issues (see post here ). www.youtube.com/watch?v=N1A44ShZfWo. v=N1A44ShZfWo. Form a corporation — not an LLC (see post here ) or a partnership (see post here ).

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The 5 Biggest Legal Mistakes That Startups Make

Scott Edward Walker

Mistake #2 : not buttoning-down IP ownership issues (at 10:20). Mistake #4 : not complying with applicable securities laws (at 29:21). By the way, my favorite part of the video is when an entrepreneur (and former lawyer) walks in late to the workshop and acknowledges that she made the first three mistakes (at 33:14).

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The 5 Biggest Legal Mistakes That Startups Make

Scott Edward Walker

i) Rule 506 preempts State law, which means all you have to do is file a Form D and pay a filing fee; and (ii) no disclosure requirement/PPM Possible to sell to “friends and family” (e.g., issues to address include: How have they treated their other portfolio companies?