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 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…
Read MoreI recently came across a situation where we used “net revenue” in a bonus plan as part of the calculation to determine what the bonus pool would be. In other contracts, we’ve used “net revenue” to distinguish from “revenue” (aka gross revenue) to deduct things like discounts, credits, returns, and so on. In many of…
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