Question: One of our founders (not the majority shareholder) has a wife who is partner at a law firm with great VC connections. We’re setting up as a C-corp, and the question is, would it be dangerous to let our partner’s wife’s firm handle our legal issues? On the one hand, they would definitely keep […]
Question: How focused and exact should an early stage startup be in talking about the path their business will take? Does an approach of “We could take the business in X,Y or Z direction” have more or less appeal than “We are focused on doing exactly X and targeting consumers of Y and Z demographic.” […]
Question: For an entrepreneur, when should a lawyer be introduced into the conversation when dealing with Angels and / or VCs? Our Take: This depends a on whom your lawyer is and also who you are. From your question, my assumption would be that you aren’t perfectly comfortable with how your lawyer will “play” in […]
Question: What’s the position of the VC community in general (and yours in particular) with regards to startups with non-resident alien founders having no work permits in the US, but having valid business visas to enter US at any time? Our Take: We can’t speak for the entire VC community on this topic (but would […]
Brad sent me a link to an article the other day regarding the IRS urging companies to pay the taxes owed by workers that received backdated options. This has been a subject that hasn’t gotten nearly the limelight that the actual backdating scandals have gotten. If you remember from our 409A series, stock options that […]
Question: What happens if two founders hit a crossroads and they are not able to agree on the strategic direction of the company prior to institutional funding and decide to separate? Is there an easy way to split the company at this point given that there are no hard assets? What rights does each party […]
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