Posts Tagged ‘SEC’

Walker Twitter Highlights: July 29th – August 11th

by Scott Edward Walker on August 12th, 2013

I’m using Twitter as a form of micro-blogging to share interesting blog posts, articles and podcasts relating to entrepreneurship and startups, M&A and legal issues.  Below are my six most popular tweets (via bit.ly) for the past two weeks and a couple of blog-related tweets.  If you’d like to see all of my tweets (or an RSS feed of them), you can do so here.  Cheers, Scott

 

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Walker Twitter Highlights: July 1st – 14th

by Scott Edward Walker on July 15th, 2013

I’m using Twitter as a form of micro-blogging to share interesting articles, posts and podcasts relating to entrepreneurship and startups, M&A and legal issues.  Below are my five most popular tweets for the past two weeks and a couple of firm-related tweets.  Cheers, Scott

 

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Walker Twitter Highlights: April 16th – 22nd

by Scott Edward Walker on April 23rd, 2012

I’m using Twitter as a form of micro-blogging to share interesting blog posts, articles and podcasts relating to entrepreneurship and startups, M&A and legal issues.  Below are my five most popular tweets (via bit.ly) for the past week and a few blog-related tweets.  If you’d like to see all of my tweets (or an RSS feed of them), you can do so here.  Cheers, Scott

 

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Is the House Crowdfunding Bill Being Killed in the Senate?

by Scott Edward Walker on March 1st, 2012

“The Senate is the place where bills go to die.” Bill Maher

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Crowdfunding Bill Stuck in the Senate

by Scott Edward Walker on January 13th, 2012

In early November, the U.S. House of Representatives overwhelming passed the Entrepreneur Access to Capital Act, a crowdfunding bill which permits startups to offer and sell securities via crowdfunding sites like Kickstarter or social networking sites like Facebook.  As I discuss below, this is a game-changer for startups and lifts certain securities law prohibitions that have been on the books since the 1930’s.

The Obama Administration supports the House bill and noted in its Statement of Administrative Policy that: “This bill will make it easier for entrepreneurs to raise capital and create jobs.”  Unfortunately, two very different crowdfunding bills have been introduced in the U.S. Senate, and committee hearings have been surprisingly focused on fraud concerns and other potential problems.  Indeed, it is unclear whether the Senate will even pass a crowdfunding bill (and, if so, in what form).

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Walker Twitter Highlights: December 19th – January 1st

by Scott Edward Walker on January 2nd, 2012

I’m using Twitter as a form of micro-blogging to share interesting blog posts, articles and podcasts relating to entrepreneurship and startups, M&A and legal issues.  Below are my five most popular tweets (via bit.ly) for the past two weeks and a few blog-related tweets.  If you’d like to see all of my tweets (or an RSS feed of them), you can do so here.  Cheers, Scott

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House Passes Crowdfunding Bill: FAQ’s for Entrepreneurs

by Scott Edward Walker on November 9th, 2011

Last week, the U.S. House of Representatives passed a crowdfunding bill that will allow startups to offer and sell securities via crowdfunding sites and social networking sites.

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Raising Capital? 3 Tips for Entrepreneurs (Part 3)

by Scott Edward Walker on October 20th, 2011

I’ve been helping entrepreneurs raise capital as a corporate lawyer for 17+ years, and there are certain fundamental legal mistakes that I’ve seen entrepreneurs repeatedly make.  Accordingly, I thought it would be helpful to share three tips for entrepreneurs in connection with raising capital.  This is part three of a three-part series, which was  originally published on The Huffington Post.

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Raising Capital? 3 Tips for Entrepreneurs

by Scott Edward Walker on June 30th, 2011

Introduction

I’ve been helping entrepreneurs raise capital as a securities lawyer for 17+ years, and there are certain fundamental legal mistakes that I’ve seen entrepreneurs make over and over again.  Accordingly, I thought it would be helpful to share three basic tips for entrepreneurs in connection with raising capital.  (Note: this post was originally published on The Huffington Post.)

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Can I Raise Funds via Facebook or LinkedIn?

by Scott Edward Walker on March 17th, 2011

As a corporate lawyer for entrepreneurs, I am frequently asked: “Hey Scott, can I raise funds for my new company via Facebook or LinkedIn?  I have lots of friends and connections, and I know some of them would be interested in investing.”  The short answer is no (except in rare circumstances) because it would violate securities laws.

 

 

 

 

 

 

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Can I Raise Money for My Startup via Twitter?

by Scott Edward Walker on January 5th, 2011

Introduction

I get this question all the time (in one form or another): “Hey Scott, can I raise money for my startup via Twitter?  I have a lot of followers, and I know some of them would be interested in investing.”  As discussed below, the answer is no — unless the tweet is a direct message (a “DM”) to a follower with whom you have a substantive, pre-existing relationship. 

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“Ask the Business Attorney” – Will the New Financial Reform Bill Destroy Angel Investing?

by Scott Edward Walker on July 21st, 2010

Introduction

This post was originally part of my “Ask the Attorney” series which I am writing for VentureBeat.  Below is a longer, more comprehensive version.  Please shoot me any questions you may have in the comments section – or feel free to call me directly at 415-979-9998.  Many thanks, Scott

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“Ask the Business Attorney” – What Are the Biggest Legal Mistakes Startups Make Raising Capital?

by Scott Edward Walker on July 7th, 2010

Introduction

This post was originally part of my “Ask the Attorney” series which I am writing for VentureBeat; below is a longer, more comprehensive version.  I know this stuff tends to be very technical (and perhaps boring), but it is nevertheless critical that entrepreneurs have a basic understanding of the securities laws.

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A Personal Letter to Senator Dodd Regarding His Anti-Angel Investment Bill

by Scott Edward Walker on March 31st, 2010

Below is a copy of the letter I just emailed to Senator Dodd’s office with respect to his new financial regulatory reform bill and its material adverse effect on angel investments. 

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“Ask the Attorney” – Beware of Finders

by Scott Edward Walker on February 24th, 2010

Introduction

This post is part of my weekly “Ask the Attorney” series 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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“Ask the Attorney” – Securities Laws

by Scott Edward Walker on January 12th, 2010

Introduction

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.”

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).

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Angel Financings: Legal Tips For Entrepreneurs – Part 1

by Scott Edward Walker on December 2nd, 2009

Introduction

I am currently working with several smart, young entrepreneurs who are trying to raise capital from “angels” (i.e., wealthy individuals who invest in startups).  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…)

Rescission Offers: Five Tips For Entrepreneurs

by Scott Edward Walker on November 24th, 2009

In light of the Madoff affair and other significant external pressures, the Securities and Exchange Commission (the “SEC”) and State securities law commissions and departments are dramatically stepping-up enforcement of securities laws.  Indeed, there is a heightened level of regulatory scrutiny that entrepreneurs need to be aware of as they struggle to raise capital during this difficult economic period.  I have discussed the most common securities law violations in a relatively recent post: “Five Common Mistakes Entrepreneurs Make in Raising Capital”; and as I pointed out in “Mistake #1”, non-compliance with applicable securities laws could result in serious adverse consequences. (more…)

Sec Form D And Related Securities Laws: Q&A For Entrepreneurs

by Scott Edward Walker on November 3rd, 2009

As I mentioned in a recent post, one of things that surprised me when I moved to Southern California from New York City in 2005 was the lack of sophistication of some of the players in the so-called “middle market.”  Indeed, I was particularly surprised to see so many investment bankers and other intermediaries running around and raising capital for private companies without being registered as a “broker-dealer” with the Securities and Exchange Commission (the “SEC”).  As I have previously discussed (see mistake #4 here ), this is a huge potential problem for the issuer, particularly in light of the recent changes to SEC Form D.  Accordingly, I thought it would be helpful to entrepreneurs to provide them with a basic understanding of the new, revised Form D and related securities laws via a question-and-answer format.  (more…)