article thumbnail

The Legal Side of Entrepreneurship

YoungUpstarts

Craig Schmitz, a partner in the Technology Companies Group at law firm Godwin Proctor LLP who works on corporate, governance, board and fundraising issues, and Erika Fisher, an associate in the firm’s Business Law Department who deals with IP, fielded questions about the legal issues startups face. Debt or convertible securities (e.g.,

article thumbnail

The 5 Biggest Legal Mistakes That Startups Make

Scott Edward Walker

Mistake #2 : not buttoning-down IP ownership issues (at 10:20). Mistake #5 : not doing your due diligence on potential investors (at 38:36). you want to form a Delaware corporation. Mistake #2: Not Buttoning-Down IP Ownership Issues. Mistake #5: Not Doing Your Due Diligence on Potential Investors.

article thumbnail

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?