Most of my startup and small business clients are operated by the majority owners – a founder/CEO holding 70%, for example, or the CEO who owns 100% of the company. For each of these situations, its incredibly uncommon for the company to have a board. Why is this? NB: I’m not talking about technical corporate…
Read MoreHow should I account for convertible notes of a company before I invest? Convertible notes aren’t new; they’ve been around for over 15 years, mutating from their original form as bridge notes used by VCs to provide short-term capital to a company while a financing deal was pending. But people still get confused when it…
Read MoreCode Smell in Development Agreements I recently answered a Quora question about the Gigster contract for freelance developers. In that answer (reproduced below), I run through some basic considerations that almost always deserve attention – regardless of whether I’m representing the developer or the client. If you read through the comments, you’ll see a number…
Read MoreStill No News on New York LLC Publishing Requirement New York state has imposed an unusual requirement on newly formed LLCs. Each LLC is required to publish a legal notice of its formation in newspapers designated by the county clerk for six weeks. Because not all newspapers are designated, there is a noticeable lack of…
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