When Do I Need Outsourced General Counsel and What Does That Relationship Actually Look Like? In the earliest stages of a startup, legal needs tend to be transactional. You form the company, raise a financing round, negotiate a customer agreement, or hire a key employee. When an issue comes up, you call a lawyer, get the matter […]
What Is a Liquidation Waterfall and How Do I Model My Return as an Early Investor? Many startup investors assume that calculating their return is simple: take their ownership percentage and multiply it by the acquisition price. In practice, it rarely works that way. When a startup is acquired, merged, or otherwise exits, the proceeds are
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How Do I Set Up My Startup’s First Board of Directors? Most founders don’t think about their board until an investor asks about it. Unfortunately, that’s often when governance mistakes first come to light. A board of directors is not just a legal formality. It is the body responsible for overseeing the company and approving many of its most significant
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