Five-minute general counsel: choose a nonprofit entity

By Rick Colosimo / May 11, 2020 /

I recently got an inquiry for someone with an unusual entity selection question. Here it is: “I am in the process of creating a non-profit. Can you please tell me whether you think a non-profit should be an LLC or Corp… and why?” Now, this person didn’t just pull my name out of a hat;…

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What do you do when a startup relationship gets rocky?

By Rick Colosimo / April 20, 2020 /

I don’t mean third-date awkwardness, or figuring out how to let him know you’re not ready to introduce him to your friends. No, we’re talking about how to handle going from start-up to break-up. Co-founders have complicated relationships: you have usually known the other founder as a co-worker or friend for months or even many…

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Beware “experts” who get it wrong

By Rick Colosimo / March 30, 2020 /

Sometimes people talk when they shouldn’t. I’d long been in the advice business: I got paid primarily for giving advice, the right advice, and advice that was right. I didn’t get paid for guessing, for making things up, and I certainly didn’t get paid to give the wrong answer. Not all “experts,” credentialed, licensed, or…

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Benefits Corps: what is the benefit of the corporation?

By Rick Colosimo / March 9, 2020 /

Benefit corporations have become more common since I started this post, on the heels of this WSJ article describing them. I have long found these legislative exercises to be a substantial waste of time and effort. Public fiscal discipline is non-existent, and yet legislators have time to fool around with this sort of mickey-mouse smoke…

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