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  • Progressive de-risking of company from concept to a venture that will achieve investment and/or sustainable revenueTraining materials, activities & workshops are integrated with these 10 steps Product-Market Fit helps each company ensure that they have identified the correct market for their product(s)/service(s) and are ready to make appropriate adjustments. 2) Technology Validation ensures that their product(s)/service(s) will credibly meet the requirements of investors and customers. 3) Business Model covers all key aspects of who and how and where money will be made, and how the product will be delivered. 4) Markets and Getting to Them covers the key, crucial steps needed to get a new product into the market (an enhanced version of ‘Go To Market Strategy’). 5) Finances & Funding focuses on producing credible financial projections. 6) Legal provides an introduction to intellectual property protection and the corporate structure required to minimize risk and provide the legal underpinnings for success (important steps often overlooked by entrepreneurs). 7) Execution and Team to Execute introduces the importance of building a strong, relevant team with the specific skills needed to hit the major milestones needed as the startup grows. 8) Sustainability introduces the importance of business practices that will improve the company’s profitability while reducing its environmental impact. 9) Presentation works on the content and skills for excellent investor/customer presentations. 10) Assessment & Review guides each entrepreneur through the importance of careful review, and provides the platform for review and refinement of the programs themselves.Physical and virtual business clinics are one-on-one sessions for each participating startup with experts from sectors such as law, marketing, design, manufacturing and finance.
  • This webinar will focus specifically on sources of value and destruction in context of Investment, Intellectual Property, Operations Issues and Liquidity Events with help of Legal Advisor.
  • Our agenda for today’s topics in this webinar focus on the following:- Value Creation and understanding sources of value / destruction in context of Legal Environment, Issues and RisksLegal Issues in context of Investments in Start ups and Early Stage CompaniesLegal Issues in context of IP / Operations for Start Ups and Early Stage Enterprises- Legal Issues in Context of Exit Strategy and Liquidity Events- Summary and Questions
  • We move on to Webinar no 5 from where we left off last week on Finance and Funding Webinar. You shared with us what you liked about the Webinars and how we can make them more helpful. Today’s Webinar is to Legal Issues in context of Value Creation and being mindful of what can lead to destruction. The goal is to not only link the Webinar content to the Worksheets that you are required to complete and Judging Criteria but also being mindful of protecting one’s interest if and when you exit.
  • Stay focused on Creating, Capturing and Exit Points in context of Value Creation while starting and building the business.Legal Environment, Issues and Risks- Investments Issues ( Capitalization) - IP / Operational Issues- Liquidity EventsInvestments - One of the ways to capture value is through Capitalization. Example….2) IP / Operational Issues – Operational efficiencies and effectiveness by business that can positively result in creation of Industry / Industries. Example…….Rise of Wafer Foundaries and Subcontractor Back End Manufacturing companies in a highly capitalized industry such as semiconductor industry.3) Liquidity Events – Instead of selling products / services one can consider financing the products and services over shorter or longer time frame. – Example….Automobile Sales to Consumers, Structure of business and or doing business within a given Industry.
  • The Canvas consists of nine building blocks, which are described from Right to Left (Front Stage and Back Stage) and then at the bottom Front Stage……..On the Right are four building blocks that form what can be called a customer view. These blocks include Customer Segments (CS), Value Propositions (VP), Customer Relationships (CR), and Channels (CH).On the Left are three building blocks that form what can be called the operations view. These blocks are Key Activities (KA), Key Resources (KR), and Key Partnerships (KP). At the bottom of the Canvas are two blocks that make up the economics view: Cost Structure (C$) and Revenue Streams (R$).The Canvas should be seen as a visual representation of the flow from suppliers to customers supported by economic elements. The organization of the elements is set up to be developed from right to left and then interpreted left to right. Like a painting it may not make sense until all elements are in place and the whole of the picture is seen through the interaction of the parts. In the following discussion we will look at each in more detail.Companies with Successful Business Models – Apple, Intel, Google and Power Assure (Smart Power Management - Dashboard)
  • Liquidity EventsIPOThe “Holy Grail” of exit strategiesNot as prevalent as in the past - markets are cyclical, but sometimes it is difficult to time the marketLockups may restrict insiders2. Sale of the CompanySale to a Strategic Partner - Often an investor and Strategic Partnerb) Might be structured as an asset sale rather than a stock salec) Often to a foreign company looking to come into the US marketplace - or to a foreign company in the market territory in which the company is selling its goods / servicesd) Beware of non-competes, claw-backs, reserves and holdbacks3. LicensingLicensing the company’s technology might be a good exit strategyLikely exclusive, by Fields of use, industry market segment and territory

13 0813 session 1 13 0813 session 1 Presentation Transcript

  • Cleantech Open 2013 Webinar Series Tuesday, August 13, 2013
  • 2 Cleantech Open Confidential Information – All Rights Reserved Welcome to the National Webinar Series • With the Cleantech Open since 2007 • Mentor Chair 2007 - 2008 • Executive Director 2008 - present MC: Rex Northen, Executive Director, Cleantech Open
  • 3 Cleantech Open Confidential Information – All Rights Reserved Global Partner
  • 4 Cleantech Open Confidential Information – All Rights Reserved National Sponsors
  • 5 Cleantech Open Confidential Information – All Rights Reserved Thank You To All Our Sponsors!
  • 6 Cleantech Open Confidential Information – All Rights Reserved The Summer Program – July – September 2013 Date Time (PDT) Session I – Worksheets Time (PDT) Special Topic Sessions 7/9 1:30 to 2:30pm Business Model Canvas (Review) 2:45 to 4:00pm LaunchPad Central (Review) 7/16 1:30 to 2:30pm Product/Market Fit 2:45 to 4:00pm Systems Review, PR 101 7/23 1:30 to 2:30pm Markets and Getting to Them 2:45 to 4:00pm Term Sheets 7/30 1:30 to 2:30pm Product/Technology Validation 2:45 to 4:00pm Alternative Sources of Funding - Grant Writing / Crowd Sourcing 8/6 1:30 to 2:30pm Financials Analysis & Planning 2:45 to 4:00pm Review of Worksheets to date 8/13 1:30 to 2:30pm Legal Environment, Issues and Risks 2:45 to 4:00pm Cap Tables 8/20 1:30 to 2:30pm Management Team 2:45 to 4:00pm Working with the Utilities 8/27 1:30 to 2:30pm Sustainability 2:45 to 4:00pm Tell Your Story, Sell Your Story (Communicating value to stake holders) 9/10 1:30 to 2:30pm Last Chance For Questions 2:45 to 4:00pm 9/11 1:30 to 2:30pm Investor Presentation Mentor Assessment 2:45 to 4:00pm Review of Mock Judging, Regional Awards, Global Forum
  • 7 Cleantech Open Confidential Information – All Rights Reserved Session 1: Legal Environment, Issues and Risk 1:30pm – 2:30pm, PDT • 30 year technology industry veteran, having run global businesses based in USA and Asia • Practitioner Lead Faculty for Strategy in the School of Business Speaker: Niraj Kohli President, CSC • Leads Faegre Baker Daniels' renewable energy and clean tech practices firmwide • Works with entrepreneurs, developers, strategic partners and finance providers on clean-tech businesses, energy and infrastructure projects Speaker: Robert Anderson Partner, Faegre Baker Daniels
  • Cleantech Open Legal Environment, Issues and Risks By Niraj Kohli - University of Phoenix Bob Anderson – Faegre Baker and Daniels LLP
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Copyright © 2013 University of phoenix. All rights reserved. Reproduction in copies, distribution to others, preparation of modified or derivative works, or sublicensing others without express written consent of University Phoenix is prohibited. University of Phoenix webinars include content from: businessmodelgeneration.com and from Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers [ISBN: 978-0-470- 87641-1] by Alexander Osterwalder and Yves Pigneur, (hereafter referred to as the “Work”). Copyright © 2010 by Alexander Osterwalder and Yves Pigneur. All rights reserved. Used by arrangement with John Wiley & Sons, Inc. Unless John Wiley and Sons, Inc.’s (“Publisher”) express prior written permission is obtained, it is prohibited to (a) remove or alter the author’s name, Publisher’s copyright notices, or other means of identification or disclaimers as they appear in the Work; (b) make electronic copies of the Work other than as permitted pursuant to Section 1.1 of Agreement between Publisher and Apollo Group, Inc. “(Apollo”); (c) mount or distribute any part of the Work on any electronic network (including without limitation, the Internet and the World Wide Web) other than the Sites; (d) use all or any part of the Work for the purposes of monetary reward by means of sale, resale, loan, transfer, hire, or other form of distribution of the Work; (e) distribute the whole or any part of the Work to anyone other than Authorized Registrants (as defined in the Agreement between Publisher and Apollo; (f) publish, distribute, or make available the Work, works based on the Work or which combine it with any other material, other than on the Sites as expressly permitted in this Agreement between Publisher and Apollo.
  • This webinar is a 60-minute meeting presented as part of the Cleantech Open, which focuses specifically on Legal Environment, Issues and Risks for Entrepreneurs and Early Stage Companies. Cleantech Open Webinar No 6 by University of Phoenix
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Agenda o Value Creation in context of Legal Environment, Issues and Risks  5 minutes o Legal Issues in context of Investments in Start ups and Early Stage Companies  15 minutes o Legal Issues in context of IP / Operations for Start Ups and Early Stage Enterprises  15 minutes o Legal Issues in Context of Exit Strategy  10 minutes o Summary and Questions  5 minutes
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Legal Worksheet and Judging Criteria Worksheets • Do You Own The IP? • Exclusive License? • Patent Landscape/Prior Art Analysis? • Is IP Defensible? • Do You Have An IP Strategy? Judging Criteria • Is the team’s IP their own and defensible? Do they have an IP Strategy? • Is their corporate and cap structure free of issues?
  • Cleantech Open Webinar No 6 by University of Phoenix Value Creation in context of Legal Environment, Issues and Risks
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks How to thrive with your Business Model? Stay Focused on Creating, Capturing and Monetzing Value!
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks (VP) VALUE PROPOSITIONS (CH) CHANNELS (CR) CUSTOMER RELATIONSHIPS (CS) CUSTOMER SEGMENTS (R$) REVENUE STREAMS(C$) COST STRUCTURE (KP) KEY PARTNERSHIPS (KR) KEY RESOURCES (KA) KEY ACTIVITIES Customer view – Front StageOperations view- Back Stage Economics view – Business Performance Stage businessmodelgeneration.com
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Questions and Business Issues with Legal Implications? • Raising Money / Investments • Company Formation • Intellectual property • Best practices from a contractual stand point • Insurance • Licensing/Permits • Compliance with law, rules and regulation
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Are there any questions?
  • Cleantech Open Webinar No 6 by University of Phoenix Legal Issues in context of Investments in Start ups and Early Stage Companies
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Investments Issues: o Capitalization - Fundamental Financing Concepts - Characteristics of Equity - Characteristics of Debt - Characteristics of Convertible Debt - Characteristics of Grants
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Equity/Convertible Debt Financing Options Friends and family
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Equity/Convertible Debt Financing Options Venture Angels An angel is an individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity.
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Equity/Convertible Debt Financing Options Early Stage Venture Capital Funds
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Revenue Funding Grant Funding • ARPA-E • DoE • NSF • DoD • State Agencies like: o NYSERDA o NJ EDA o CT Innovations
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Revenue Funding Partners (suppliers and customers)
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Investments Issues: o Entity Formation Types of Entity 1) Corporations 2) Limited Liability Corporation (LLC) 3) Partnerships
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks What types of Legal Information is key to a start-up business? o Capitalization o Entity Formation o Control of IP o Control of Key Personnel o Other
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Are there any questions?
  • Cleantech Open Webinar No 6 by University of Phoenix Legal Issues ( Sources of Value Creation and destruction) in context of IP and Operations for Start Ups and Early Stage Enterprises
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Intellectual Property Creating and Protecting Value?
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Legal Issues in context of IP for Start Ups and Early Stage Enterprises • How to Create Value i.e. Do You Own The IP? • Exclusive License? • Patent Landscape/Prior Art Analysis? • Do You Have An IP Strategy? .
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Legal Issues in context of Operations for Start Ups and Early Stage Enterprises • Employment Concerns • Contracts – Best Practices • Permitting • Insurance • Property Concerns • Working with Lawyers .
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Are there any questions?
  • Cleantech Open Webinar No 6 by University of Phoenix Legal Issues in Context of Exit Strategy and Liquidity Events
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks • IPO • Sale of the Company • Licensing Liquidity Events
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Are there any questions?
  • Cleantech Open Webinar No 6 by University of Phoenix Summary and Questions
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Create a thriving Business model with help of best legal advice Corporate Structure and Governance are key at Investment and Liquidity Events IP Generation and protection is a key source of Value for a Start up business Operational Issues – Devil is in the Details Liquidity Events – Always keep them in mind Summary:
  • Does your plan address potential Legal Issues/Risks?
  • Cleantech Open Webinar 6 – Legal Environment, Issues and Risks Are there any questions?
  • Session 1 Q&A
  • Accelerating Your Business Live and Breathe the Worksheets
  • 42 Cleantech Open Confidential Information – All Rights Reserved Worksheet Work – Week 8/13 – 8/19 • Work on ways to reduce legal risks in your business – Decide on your legal structure – Think through and outline what IP you own and need to protect – What is your IP Strategy going forward & how do you intend to protect it • To prepare for next week: Review of your team – What skills are missing from your current team to achieve the 18- month milestones successfully? – Have your thought about how you will fill those gaps? Advisors? Consultants? Team Members?
  • 43 Cleantech Open Confidential Information – All Rights Reserved As of August 13th …… Complete Business Model Canvas and Worksheet (wiki) Complete Product/Market Fit Worksheet (wiki) Complete Markets and Getting to Them Worksheet (wiki) Complete Product/Technology Validation Worksheet (wiki) Draft (almost final) of Financials Worksheet (wiki) Thinking of legal structure & IP (wiki) Be posting your answers to your online worksheets (Dashboard) Remember there are character limits to the answers
  • Session 2 will start at 2:45pm PDT 3:45pm MDT, 4:45pm CDT, 5:45pm EDT
  • 45 Cleantech Open Confidential Information – All Rights Reserved Session 2: Cap Tables 2:45pm – 4:00pm, PDT • Concentrates on strategic business counseling for emerging growth companies and investors at all stages of development • Speaker on issues related to venture capital, emerging growth companies, life sciences, public securities and entrepreneurship Speaker: Deborah Marshall Partner Sidley Austin LLP • Works with business and transactional matters – technology transactions – energy project developments, complex secured and unsecured debt financings – general corporate matters Speaker: Ilan B. Hornstein Associate Sidley Austin LLP
  • Reminders
  • 47 Cleantech Open Confidential Information – All Rights Reserved September 10th Deliverables Tuesday, September 10, 11:59pm, Pacific Daylight Time • Deadline for submitting your completed worksheets and required additional documents – Eight (8) worksheets in your dashboard, plus • Business Model Canvas - If you are using LaunchPad Central, export your Business Model Canvas from the system then convert to pdf before uploading. • Financial Projections – Executive Summary – Investor Presentation – but you can fine tune until October Go to “September 10th Deliverables” on Accelerator wiki homepage for templates & list
  • 48 Cleantech Open Confidential Information – All Rights Reserved Reminders • Be posting your answers to the online worksheets – accessed through your Dashboard • Work on your worksheets – keep up each week, it will make it easier • Complete webinar survey for August 13th • Next webinar is Tuesday, August 20th – Check your Accelerator wiki http://wiki.cleantechopen.com/accelerator- wiki/2013-webinars/ for updates on webinars – Session 1: Management Team - 1:30pm to 2:30pm, PDT • Speakers: Niraj Kohli, President, CSC • Be sure to send in your top 3 expectations you have for the next worksheet webinar. Link is in the August 20th Session 1 webinar – Session 2: Working with the Utilities - 2:45pm-4:00pm, PDT