Your SlideShare is downloading. ×
Governance Issues for a Startup
Governance Issues for a Startup
Governance Issues for a Startup
Governance Issues for a Startup
Governance Issues for a Startup
Governance Issues for a Startup
Governance Issues for a Startup
Governance Issues for a Startup
Governance Issues for a Startup
Governance Issues for a Startup
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Governance Issues for a Startup

764

Published on

About Paul Pryzant …

About Paul Pryzant

Paul Pryzant is a partner at Burleson LLP, a full service law of 130+ attorneys which focuses on clients in the energy industry and has offices located in Houston, San Antonio, Midland, Pittsburgh and Denver. Paul has over 30 years experience as a corporate and securities attorney, and works regularly with entrepreneurs, angel investors, and private equity funds and their portfolio companies. Paul’s practice includes mergers and acquisitions, private placements, technology and corporate governance.
Paul has been the General Counsel of the Houston Angel Network since 2006, and has represented numerous groups of angels for their investments in start-up companies. He was also instrumental in the creation of HAN’s fund, Texas HALO Fund I, LLC. Finally, Paul is an angel investor himself who has invested in OrthoAccel, Moleculin, SURGE II, and the Texas HALO Fund I.

Paul started his career with 17 years in private practice as a corporate and securities attorney, first with Childs, Beck & Guyton, then with Butler & Binion, and finally with Snell & Smith. He was a partner at all three firms. In 1998, the entrepreneurial bug bit Paul and he joined TransCom USA, a truck parts distribution company that went public in June 1998. Paul served TransCom as its Senior Vice President and General Counsel. In January 2000, Paul continued his entrepreneurial endeavors when he was recruited to join CheMatch, a leading Internet chemical exchange, to be its General Counsel just prior to its planned public offering. When the Internet bubble burst, Paul took his passion for law and entrepreneurship to Locke Lord Bissell & Liddell, LLP, and then joined Burleson LLP as a partner in 2008 when it was only 20 attorneys.
Paul earned his undergraduate degree from The Wharton School of the University of Pennsylvania, and his law degree from The University of Texas School of Law.

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
764
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
12
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. © Paul Pryzant 2013Governance Issues for a Start-UpMay 29, 2013Presented by:Paul PryzantPartnerBurleson LLP(713) 358-1767ppryzant@burlesonllp.com
  • 2. © Paul Pryzant 2013Paul PryzantPaul Pryzant is a partner at Burleson LLP, a full service law of 130+ attorneys which focuseson clients in the energy industry and has offices located in Houston, San Antonio, Midland,Pittsburgh and Denver. Paul has over 30 years experience as a corporate and securitiesattorney, and works regularly with entrepreneurs, angel investors, and private equity fundsand their portfolio companies. Paul’s practice includes mergers and acquisitions, privateplacements, technology and corporate governance.Paul has been the General Counsel of the Houston Angel Network since 2006, and hasrepresented numerous groups of angels for their investments in start-up companies. Hewas also instrumental in the creation of HAN’s fund, Texas HALO Fund I, LLC. Finally, Paulis an angel investor himself who has invested in OrthoAccel, Moleculin, SURGE II, and theTexas HALO Fund I.Paul started his career with 17 years in private practice as a corporate and securitiesattorney, first with Childs, Beck & Guyton, then with Butler & Binion, and finally with Snell &Smith. He was a partner at all three firms. In 1998, the entrepreneurial bug bit Paul and hejoined TransCom USA, a truck parts distribution company that went public in June 1998.Paul served TransCom as its Senior Vice President and General Counsel. In January 2000,Paul continued his entrepreneurial endeavors when he was recruited to join CheMatch, aleading Internet chemical exchange, to be its General Counsel just prior to its planned publicoffering. When the Internet bubble burst, Paul took his passion for law andentrepreneurship to Locke Lord Bissell & Liddell, LLP, and then joined Burleson LLP as apartner in 2008 when it was only 20 attorneys.Paul earned his undergraduate degree from The Wharton School of the University ofPennsylvania, and his law degree from The University of Texas School of Law.
  • 3. © Paul Pryzant 2013Structuring YourBoard
  • 4. © Paul Pryzant 2013• Duties:– Hire, fire and compensate CEO and topmanagement– Provide strategic direction and advice– Fiduciary duty to act in best interests of ALLshareholders• Initially – Board is composed of Founders andManagement Team• As investors are added, the Board isrestructured to add investor representativesStructuring Your Board
  • 5. © Paul Pryzant 2013• General Guidelines:– Determine board objectives, and select boardmembers accordingly– Select board members with diverse skill sets –avoid duplication of skills– Value independent and objective boardmembers, especially with operating experience– Define expectations, and replace members whodo not contributeStructuring Your Board
  • 6. © Paul Pryzant 2013Structuring Your Board“The Board is the 2nd most important team in astart-up”• Use selection criteria and balance themembers of board• Utilize your board for strategic help and as asounding board for problems• Tell the truth and maintain communications atall costsExplore More: http://www.feld.com/wp/archives/2009/08/the-best-board-meetings.html
  • 7. © Paul Pryzant 2013• Advisory Boards vs. Corporate BoardsWhat is the difference?– Time commitment– Strategic vs. Fiduciary– Types of members– FeesAdvisory boards can be helpful to providedomain expertise and strategic adviceStructuring Your Board
  • 8. © Paul Pryzant 2013Best Book on Venture FinancingVenture Deals: Be Smarter Than YourLawyer and Venture Capitalist(2nd Edition)By: Brad Feld and Jason Mendelson Written by two VC’s in plain English Great explanations of the terms in a typicalSeries A Term Sheet from the perspective ofboth the investor and the entrepreneur
  • 9. © Paul Pryzant 2013Blogs To Read• Feld Thoughts by Brad Feld www.feld.com– Note archives by subject matter category• Ask the VC by Brad Feld & Foundry Group Partnerswww.askthevc.com– Note archives by subject matter categories– Also full list of VC bloggers• Both Sides of the Table (Entrepreneur Turned VC) byMark Suster www.bothsidesofthetable.com– Note subject matter tabs at top• AVC (Musings of a VC in NYC) by Fred Wilsonwww.avc.com
  • 10. © Paul Pryzant 2013Governance Issues for a Start-UpMay 29, 2013Presented by:Paul PryzantPartnerBurleson LLP(713) 358-1767ppryzant@burlesonllp.com

×