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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.,

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How to Work with Lawyers at a Startup

Both Sides of the Table

You never got around to agreeing exact equity splits but you had many conversations about it. Shame about not getting it in legal writing that you owned the original IP. Founded it as a California LLC but your potential VC wants a Delaware C-Corp? I wonder how the shunned three are going to feel when you make your millions?

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If I Launched a Startup

The Startup Lawyer

2) State of Incorporation: Delaware. (3) 7) Founders Equity Split: Depends on the Team, But Quickly and After the Awkward & Difficult Conversations. (8) 10) Consideration for Founders Shares: Cash & IP. (11) 11) Handling of “Lost Founders&# : Lock Down the IP. : Hell Yes. (9) 8) Vest Founders Shares?:

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If I Launched a Startup

The Startup Lawyer

2) State of Incorporation: Delaware. (3) 7) Founders Equity Split: Depends on the Team, But Quickly and After the Awkward & Difficult Conversations. (8) 10) Consideration for Founders Shares: Cash & IP. (11) 11) Handling of “Lost Founders&# : Lock Down the IP (then Wish Them Well). : Hell Yes. (9)