Changing the Public Perception of Lawyers
Areas of Practice 1. Venture and Angel Financing 3. “General Counsel” Services Startup Founders New Business Formation VC and Angel Investors Contract template drafting Contract negotiation 2. Mergers & Acquisitions Employment Issues Leases Asset Sales Intellectual Property Stock/Equity Sales Contract Dispute and Resolution
How to Effectively Use Your Lawyer Understand the payment structure Pay your bill on time. If you can’t, talk to your lawyer Give your lawyer adequate time for thought Present specific questions.
Strategy in Financing Do you need outside capital? What is the end game?
Financing Sources: Friends and Family Angel Investors Venture Capital Banks/ government Savings
Financing Types: Grants (non-dilutive!) SAFEs Equity: Debt: - preferred stock - Conventional loan/line of credit - common stock - Convertible debt
Angel Investors What to look for? • Industry expertise • Personal interest (therapeutic area?) • Connections to other capital, relationships
Venture Capital VC Firms Pooled Capital making larger/later investments. Start Process Early Begin dialogue & relationship before you need funding.
Pitfalls of Startup Financing Raising the wrong amount of $ Giving too much control for a small investment Unrealistically high valuations early on Taking the wrong investor Taking too many investors
Business Valuation: What is your business worth? Why is it important to know your business’ value before you seek outside financing?
Valuation Methods Precedent Transactions 409A Valuation: Appraisal the fair market value of your business’ common stock.
Grants for Female Founders: 1. The Eileen-Fisher Women-Owned Business Grant 8. Small Business Innovation Research 9. Mission Main Street Project 2. FedEx Small Business Grant 10. Mom Inspired Grants 3. InnovateHER Grant 11. Open Meadows Foundation Grant 4. Amber Grants 12. Halstead Grant 5. Small Business Technology Transfer Program 13. Idea Cafe Grants 6. Women Veteran Entrepreneur Corp Small Business Competition 14. 37 Angels Grants 15. Belle Capital Grants 7. Smart Women Smart Money
Changing the Public Perception of Lawyers