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E-Factor Supporting Start-Ups from Ground UpAn Overview of Business and Legal Considerations
Beth A. Di Santo, Esq. About the Speaker & Di Santo LLPManaging Partner, Di Santo LLP Beth is a corporate and real estate attorney specializing in securities offerings, securities law compliance and corporate governance, mergers and acquisitions, venture capital financing and real estate transactions. Beth routinely represents start-up companies, angel investors and venture capital firms in structuring and negotiating venture capital and private equity investments. Beth is the Founding Partner of Di Santo LLP, a full service law firm with offices in New York and Miami. The Firm specializes in all aspects of corporate and securities law, emerging companies and venture capital, commercial litigation and regulatory investigations, entertainment and new mediaDi Santo LLP matters, intellectual property, and real estate1000 Brickell Avenue, Suite 920 transactions and finance. The firm has structuredMiami, Florida 33131 and negotiated a wide range of transactions fromP: +1 (305) 587-2701 multi-million dollar securities offerings and privateE: email@example.com placements to complex mergers and acquisitions. Di Santo LLP: Supporting Start-Ups From the Ground Up 2
Start-Up & Funding ProcessIdentify Market Assess Feasibility Engage Advisors: Opportunity & of Business Competitive Model & Financial Form & Finance Advantages Projections Company Di Santo LLP: Supporting Start-Ups From the Ground Up 3
Initial Business Considerations1. Market Opportunity: Define the market opportunity for your company.2. Competitive Advantages: Identify competitive advantages that distinguish your product or service.3. Valuation: Create a workable revenue model and supportable financial projections. Pre-Money vs. Post-Money4. Management Team: Select management team candidates and board of advisors, preferably with experience in start-ups in your industry.5. Funding: Project funding needs for 12-18 month period.6. Objective: Define the exit strategy for the company and investors. Di Santo LLP: Supporting Start-Ups the From Ground Up 4
Initial Legal Considerations1. Choice of Entity: Determine which type of entity is appropriate Corporation, S-Corporation, Limited Liability Company2. IP Protection: File patents, trademarks and/or copyrights3. Founders’ and Shareholders’ Agreements: Execute agreements amongst founders and initial shareholders with vesting requirements4. Funding Options: Consider all funding options for working capital needs Convertible Note, Series A Preferred Stock, Common Stock5. Operational Agreements: Execute protective agreements needed to operate your business.6. Employees vs. Independent Contractors: Hot button issue to avoid Di Santo LLP: Supporting Start-Ups From Ground Up
ConclusionsA variety of legal and business considerations need to be taken into account when structuring, forming and financing a start-up company.The legal, tax and regulatory framework to be considered is complex and can have far-reaching impacts on your ability to execute your business plan.Consult an attorney and other professional advisors with experience early in the process. Di Santo LLP: Supporting Start-Ups From the Ground Up 6
More InformationBeth A. Di Santo, Esq.Managing Partner, Di Santo LLPEmail: firstname.lastname@example.orgPhone: +1 212.766.2466 (New York) +1 305.587.2701 (Miami)Fax: +1 866.428.3369 Di Santo LLP: Supporting Start-Ups From the Ground Up 7
Legal Disclaimers• For Information Only: The information in this presentation is for informational purpose only and shall not be considered legal advice. The purpose of this presentation is to provide a brief overview and not a comprehensive assessment of the spectrum of legal and business issues involved in forming and financing a start-up.• Attorney-Client Relationship: No attorney-client relationship is established by virtue of this presentation or question & answer session. Di Santo LLP: Supporting Start-Ups From Ground Up 8