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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). 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). you want to form a Delaware corporation. doing this for 18+ years.

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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?

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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). Caveat entrepreneur ! Appoint Newco’s initial Board of Directors.