Remove Delaware Remove Entrepreneur Remove IP Remove Stock
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How to Work with Lawyers at a Startup

Both Sides of the Table

I recently read a post over on VentureHacks titled, “ Top Ten Reasons Entrepreneurs Hate Lawyers &# written by Scott Walker (who blogs on legal issues for entrepreneurs ). Shame about not getting it in legal writing that you owned the original IP. I know that people have an allergy to lawyers out of fear of being screwed.

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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. ” The Cost of Financing. .

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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). Make escrow arrangements for restricted stock (i.e., Appoint Newco’s initial Board of Directors.

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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). 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

If you would like to jump to different sections of the video, here’s how it breaks down: Mistake #1: forming the wrong entity (at 1:25) Mistake #2: not buttoning-down IP ownership issues (at 10:20) Mistake #3: not setting-up vesting schedules (at 17:19) Mistake #4: not complying with applicable securities laws (at 29:21) Mistake #5: not doing (..)