Common First-Time Founder Mistakes with Becki DeGraw | Wilson Sonsini Startup Legal Basics
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- čas přidán 25. 07. 2024
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Show notes:
0:00 Jason intros Wilson Sonsini Partner Becki DeGraw
3:05 Missed 83(b) elections
7:13 Founders & investors think they own the company but didn’t actually buy any stock, how officers are elected
12:59 Waiting until funding to set up company structure: tax and valuation issues
15:03 Incorporation services - are they legit?
18:23 Recent trends in secondary shares, founder re-ups
25:52 Starting as an LLC
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As a founder who has been through seed and A rounds all of this resonates. Excellent advice.
Thank you so much for recording this content and presenting the information in a manner that was easy to digest. It gave me the education that I needed to start getting our corporate paperwork organized and correct.
From 2014 til 2019 I've participated with the University of Hawaii's Pacific Asian Center for Entrepreneurship, been mentored by their original director Susan Yamada, and pitched at local startup events and boot camps and this is the first time I'm learning about the actual paperwork that is necessary in setting up our corporation with a step in the correct direction. Your presentation was informative as well as approachable. Thanks again.
Thank you! Outstanding sharing of your knowledge...very much appreciated. Stay safe Jason.
thanks!!
SUPER DUPER Content! Appreciated
thank you
JCal is a beast thanks for another one 🔥🙏🏻
thanks for watching!
This saves me from so much potential pain 🙏
glad we can help!
wow, precious stuff. Just in time for me. I'm at an idea stage, about to make all those mistakes.
1 thing I wish u'd cover = I'm bootstrapping to MVP on a shoe-string budget. How much should I expect to spend on legal? This is my biggest phobia, that I can't afford it
[not legal advice] it does depend on the market you operate in in another episode, making sure contracts are written and properly signed is a good start, so many miss this!
Are you sure this applies to the UK? When you incorprate the gov website asks you assign board and officers "persons with significant control"
Seed round investor wants to purchase preferred shares but pushes back because no anti-dilution protection. Thoughts?
This investor is supporting you from the seed stage. Why wouldn't you grant him/her a _pro rata_ clause? If they took a risk on you that early, why not let them participate in your success?
@@VishalRaoOnCZcams Agreed. Pro rata is fair, Anti-dilution isn't preferable, unless you don't have other options.