Posts Tagged ‘personal liability’
“Ask the Business Attorney” – What’s Wrong with a Partnership?
by Scott Edward Walker on June 30th, 2010Introduction
This post was originally part of my “Ask the Attorney” series which I am writing for VentureBeat (one of the most popular websites for entrepreneurs); it is part 3 of 3 of my posts on choice of entity. Two weeks ago (in part 1), I discussed what’s wrong with an LLC. Last week (in part 2), I discussed what’s wrong with a sole proprietorship; and this week I’ll address what’s wrong with a partnership. Please shoot me any questions you may have in the comments section. Many thanks, Scott
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Tags: attorney, business attorney, co-founder, entrepreneurs, fiduciary, IP, LLC, partnership, personal liability, sole proprietorship
Posted in Ask the Attorney | No Comments »
“Ask the Business Attorney”: What’s Wrong with a Sole Proprietorship?
by Scott Edward Walker on June 23rd, 2010Introduction
This post was originally part of my “Ask the Attorney” series which I am writing for VentureBeat (one of the most popular websites for entrepreneurs); it is part 2 of 3 of my posts on choice of entity. Last week (in part 1), I discussed what’s wrong with an LLC. This week I address what’s wrong with a sole proprietorship; and next week I’ll address what’s wrong with a partnership. Please shoot me any questions you may have in the comments section. Many thanks, Scott
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Tags: business attorney, corporate lawyers, DBA, IP infringement, legal documents, LLC, partnership, personal liability, sole proprietorship, vc
Posted in Ask the Attorney, Startup Issues | No Comments »
Choice of Entity for Entrepreneurs
by Scott Edward Walker on April 14th, 2010Introduction
I had originally intended to discuss “Series FF” stock in today’s post (as a follow-up to last week’s post regarding “Class F” stock); however, I had several telephone calls in the past few days with respect to the issue of choice of entity for startups and thought it would be helpful to get this post up.
Indeed, one of the most important early decisions an entrepreneur must make in connection with his or her venture is the choice of entity. There are basically six choices: (1) sole proprietorship, (2) general partnership, (3) limited partnership, (4) C corporation, (5) S corporation or (6) limited liability company. Below is a discussion of each entity, including a basic description, the advantages and disadvantages, the ideal candidate/business for such entity, the cost to set-up such entity and the most important take-away.
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Tags: c corporation s corporation, choice of entity, corporation, entity, entrepreneurs, formation, limited liability, limited liability company, LLC, Neil Patel, partnership, pass-through, personal liability, shield, sole proprietorship, startup, tax treatment, venture capital
Posted in Startup Issues | 8 Comments »
“Ask the Attorney”: Single-Member LLCs
by Scott Edward Walker on February 10th, 2010Introduction
This post is part of a weekly series entitled “Ask the Attorney,” which I am writing for VentureBeat (one of the most popular websites for entrepreneurs). As the VentureBeat Editor notes on the site: “Ask the Attorney is a new VentureBeat feature allowing start-up owners to get answers to their legal questions.”
I have two goals here: (i) to encourage entrepreneurs to ask law-related questions regardless of how basic they may be; and (ii) to provide helpful responses in plain english (as opposed to legalese). Please give me your feedback in the comments section. Many thanks, Scott
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Tags: entrepreneurs, limited liability company, LLC, LLCs, personal liability, s corporation, single-member limited liability company, single-member LLC
Posted in Ask the Attorney, Startup Issues | No Comments »
“Ask the Attorney” – Formation Issues (Part I)
by Scott Edward Walker on January 27th, 2010Introduction
This post is part of a new series entitled “Ask the Attorney,” which I am writing for VentureBeat (one of my favorite websites for entrepreneurs). As the VentureBeat Editor notes on the site: “Ask the Attorney is a new VentureBeat feature allowing start-up owners to get answers to their legal questions.” This post is a longer, more-comprehensive version of the VentureBeat post.
The goal here is two-fold: (i) to encourage entrepreneurs to ask law-related questions regardless of how basic they may be; and (ii) to provide helpful responses in plain english (as opposed to legalese). Please give me your feedback in the comments section. Many thanks, Scott
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Tags: Ask the Attorney, Delaware, formation issues, founders, inventions assignment, personal liability, quasi-California corporation, s corporation, venture, vesting
Posted in Ask the Attorney, Startup Issues | 11 Comments »
Angel Financings: Legal Tips For Entrepreneurs – Part 1
by Scott Edward Walker on December 2nd, 2009Introduction
I am currently working with several smart, young entrepreneurs who are trying to raise capital from “angels” (i.e., wealthy individuals who invest in start-up companies). Indeed, since I moved to Los Angeles from New York City in 2005, I have been involved in a number of angel financings; and what’s interesting from my perspective as a corporate attorney is that the deals run the gamut from an angel handing a check to an entrepreneur and instructing him to “send the paperwork when it’s ready” — to an angel retaining a large, aggressive law firm and insisting on shares of preferred stock, with all the “bells and whistles.” Below are five tips for entrepreneurs to help them through the angel financing process. (This is part one of a two-part series; I will provide five additional tips in my next post.) (more…)
Tags: angel, angel financings, angels, business attorneys, convertible notes, corporate attorney, entrepreneurs, liquidation preference, personal liability, Regulation D, rescission offers, SEC, securities laws, tips for entrepreneurs
Posted in Angel Issues | 12 Comments »
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