![Jared Richards – Bennett Tueller Johnson & Deere 801.438.2040 | [email_address] | WWW.BTJD.COM FORMATION AGREEMENTS FINANCINGS EXITS—MERGERS AND ACQUISITIONS Email me for memos that provide more information on : Choice of entity Capitalization issues Considerations in forming/operating an entity](https://image.slidesharecdn.com/launchuppresentation-intheweeds6-30-2010-100702101314-phpapp02/85/Launch-up-presentation-in-the-weeds-6-30-2010-10-320.jpg)
Launch up presentation in the weeds (6.30.2010)
- 2. Choice of Entity Relationships Leaving Your Employer Trademarks and Branding IP Protect IP Using An Attorney Wisely
- 3. Corporation – Raising Money LLC – Bootstrapping S Corporation – Ok for founding and angels; easy switch to C Delaware versus Utah Don’t sign before you organize
- 4. Document your relationship Do some dating first Vesting Document departures Lost Founders – Story Outline expectations Operating Agreement/Employment Agreement/Shareholders Agreement
- 5. Duty of Loyalty Your employer may own that code you’ve been working on afterhours. Be familiar with your employment agreements (if any) before leaving. Employers can be bullies – Story (KC)
- 6. Look before you leap – consider at same time as entity formation. Snatch up all domain names, twitter names, FB names, app names, etc. Beware the cybersquatter. Register your mark. – BBB Story; Gnome Use TM symbol prior to registration.
- 7. If IP is central to your business make sure you own it. PIIA is a must for all founders, employees, and contractors. Places IP into the company vault; and Protects company through confidentiality and possible non-solicitation/non-compete. Let others know about your rights by using ©.
- 8. Self Help – Educate yourself on the issues, but rely on your attorney. Hire an attorney before you start a venture, don’t wait until you need one. Don’t hire the first attorney you meet or hear about. Interview them. Find out about billing practices. Find out about their specific area of expertise. Keep it out of the family – attorney network.
- 9. How to work with an attorney: Be proactive – organizing upfront is cheaper than cleaning up the mess later. Organize yourself. Prepare agenda and budgets in advance of phone calls and meetings. Have a single point of contact with your attorney on a given matter. Story – UoU Professor
- 10. Jared Richards – Bennett Tueller Johnson & Deere 801.438.2040 | [email_address] | WWW.BTJD.COM FORMATION AGREEMENTS FINANCINGS EXITS—MERGERS AND ACQUISITIONS Email me for memos that provide more information on : Choice of entity Capitalization issues Considerations in forming/operating an entity