Do I need to create a company
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Presentation to GT:IPS program on creating a company
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Do I need to create a company
- 1. Company Creation Jeff McConnell - CEO Whisper Communications Doug Spear - Partner Nelson Mullins
- 2. Do I need to form a company?
- 3. Nope
- 5. On the other hand
- 6. May want to consider
- 7. Want any of these?
- 11. Want to avoid these?
- 16. In that case…..
- 17. create a legal company
- 18. Step 1 – hire lawyer
- 20. Step 2 – determine objectives
- 22. Step 3 – decide structure
- 23. C-Corp Sub-S LLC Partnership
- 24. C-Corp Best if raising $ Multiple classes of stock
- 25. S-Corp Not raising $ Benefits/flexibility of partnership Protection of a C-Corp
- 26. . LLC Similar to S-Corp Harder to grant equity Limited # of owners
- 27. . Partnership Similar to LLC Limited liability for LP but not GP Great for RE
- 28. Step 4 - create team
- 30. Chairman/CTO – PhD & founder CEO - commercialization Legal – outside Finance – outside Other - depends
- 31. Board/Advisors ATDC Investors Strategics Other
- 32. Step 5 – divide equity
- 33. Good luck on Step 5
- 34. Step 6 – paperwork
- 35. Step 7 – more paperwork
- 36. Step 8 – Start Business
- 37. Step 9 – more paperwork
- 38. Step 10 – Hire someone for paperwork