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Graffagnini raising angel & venture capital
 

Graffagnini raising angel & venture capital

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    Graffagnini raising angel & venture capital Graffagnini raising angel & venture capital Presentation Transcript

    • Raising angel & Venture Capital: Getting Your Legal Ducks in a Row
      Mark J. Graffagnini
      Managing Partner
      Graffagnini+Associates, LLP
      New Orleans, LA
    • Background
      Graffagnini+Associates, LLP founded in January 2010
      Focus on start-up company and venture capital investor representation over last several years
      Formerly with Wilson Sonsini Goodrich & Rosati, PC in Palo Alto, CA
      Formerly with Lemle & Kelleher, LLP in New Orleans, LA
      Entrepreneur
      www.maximumgen.com
      www.cleantechlawandbusiness.com
      www.nanolabweb.com
    • Overview
      Early Stage Legal Issues
    • So, now you’re an entrepreneur:choosing the right entity
    • Now you’ve chosen the right entity for you—founders issues
    • Founders’ Issues (cont’d)
    • Founders’ Issues (cont’d)
      Clean IP Assignments
      Applies to ALL employees, contractors, etc. and in various agreements
      Full coverage is beyond scope of this presentation
      Pay for your stock/interests!!
      Should be able to document payment and issuance
      “Fully paid and non-assessable”
      Mistakes:
      Case of mistaken identity
      Poor documentation can lead to disputes
      Not keeping “cap table” clean
    • What’s a “Cap Table”
    • One Portion of a Complex Cap Table
    • Employee Incentive Plans
    • Employee Incentive Plans (cont’d)
    • Raising Seed Capital:The “Family & Friends” Round
    • Angel & Venture Capital—Deal Documents & Issues
    • Seriously?! What’s this gonna cost me?!
      Attorney’s fees vary widely
      Negotiate with your attorney:
      Value Billing/Start-up packages
      Hourly rates and lawyers on your file
      Investor’s counsel fees & caps
    • Seriously?! Why Bother?! My business is good & I have enough to worry about!
      Correcting mistakes is far more costly
      Happy employees
      Happy investors
      Roadmaps
      Credibility!!!
    • Conclusion
      Entrepreneurship is a difficult road, and you have enough to worry about
      Good documents and corporate practices give you peace of mind
      View them as a roadmap for administration and successful business
      Questions?