Sunday, February 15, 2015

The 5 Biggest Legal Mistakes That Startups Make

This is a very important lecture for anyone in the startup world or anyone curious about how the startup world works, from a very knowledgeable attorney.  Edward Walker writes:

My law firm recently entered into a new partnership with This Week in Startups and sponsored their live fireside chat last month in San Francisco with authors Nick Bilton and Brad Stone.  Prior to the event, I conducted a legal workshop entitled “The 5 Biggest Legal Mistakes That Startups Make,” which I have uploaded above.  If you would like to jump to different sections of the video, here’s how it breaks down:

Mistake #1:  forming the wrong entity (at 1:25)
Mistake #2:  not buttoning-down IP ownership issues (at 10:20)
Mistake #3:  not setting-up vesting schedules (at 17:19)
Mistake #4:  not complying with applicable securities laws (at 29:21)
Mistake #5:  not doing your due diligence on potential investors (at 38:36)
BTW, my favorite part of the workshop is when an entrepreneur (and former lawyer) walks in late and acknowledges that she made the first three mistakes (at 33:14). 

Below is my personal outline.  

Cheers, Scott

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