The evening of Wednesday, June 15, the Silicon Valley Association of Startup Entrepreneurs (SVASE) will present “Step by Step – Raising Money from VCs“ as part of its East Bay Series at the beautiful Crow Canyon Country Club in Danville, California (tasty buffet dinner included). Here is a description of the event (emphasis added):
In equity financing, the entrepreneur raises money by selling shares in the business to investors, thereby making them partners. Investors earn their returns when the company is sold or through another liquidity event, so their incentives are largely aligned with the entrepreneur’s – they both want the business to succeed. In this program you will learn the step-by-step process of raising equity from a venture capital firm and how to build a successful relationship with your VC.
Panel members will include:
- Tim Wilson, Partech International
- Rock Clapper, Band of Angels
- Jack Robertson, The Robertson Group
Dana H. Shultz, Attorney at Law +1 510 547-0545 dana [at] danashultz [dot] com
This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact a lawyer directly.
A few days ago, a first-time entrepreneur contacted me, asking that I advise him on such issues as employees vs. independent contractors, equity compensation, and the like. As we exchanged e-mails, however, I could see that there were fundamental business issues to which he had not given sufficient consideration.
I wrote that, in my opinion, the he didn’t need a lawyer – he needed a management consultant or business advisor to help him solidify his business model and prepare a business plan. I recommended that he start with the U.S. Small Business Administration. He was thrilled – he called the SBA and made an appointment to visit them the next day.
Bottom line: A lawyer can help you get your business off the ground – but, first, you should have a reasonable idea of where that business is going and how it expects to get there.
Dana H. Shultz, Attorney at Law +1 510 547-0545 dana [at] danashultz [dot] com
This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact a lawyer directly.
I have written about opportunities for foreign entrepreneurs who wish to obtain U.S. work visas (Visa Basics for Foreign Entrepreneurs Coming to the U.S., Visa Basics for Foreign Entrepreneurs, Part 2: What Constitutes Work?). This post focuses on a particularly interesting aspect of this issue: Whether and how a foreign entrepreneur can form a corporation in the U.S. and, then, obtain an H1-B visa to work for that corporation.
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In an article published yesterday (“Money Rushes Into Social Start-Ups”), the Wall Street Journal reported that VCs are investing in companies that are taking social networking from computers to mobile phones. The rationale, according to the article (emphasis added):
Behind the spurt of new services is also the idea that the phone, carried by people at all times, can reinvent the notion of a social network by sharing more real-time information about where people are, what they’re seeing and even who they’re around.
Other points made in the article:
- Phones allow social experiences that are more personal in nature.
- Smartphones and tablets now are numerous enough that users can share experiences widely.
- At least one app completely dispenses with the idea of privacy – whatever you have in that app is shared automatically with everyone nearby who also has that app.
Dana H. Shultz, Attorney at Law +1 510 547-0545 dana [at] danashultz [dot] com
This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact a lawyer directly.
On the evening of Wednesday, March 16, the Silicon Valley Association of Startup Entrepreneurs will present, as part of its East Bay Series, “Cleantech Software – Dealing with Demand”. Here is the description from the SVASE website:
While companies that produce clean energy have garnered mega-sized deals, not all investors are enamored with the supply-side of the energy equation. A growing number of investments focus on companies that help businesses, utilities and consumers reduce demand – particularly software companies that improve energy efficiency, manage the electrical grid, allow trading of carbon credits, or capture waste energy. These capital-efficient companies have a clear business models based on saving customers money or improving their competitiveness; have short investment cycles; and have multiple opportunities for exits. So where are the best opportunities right now? Find out from our panel of VCs. If you’re an entrepreneur with an idea or are gearing up to raise money, you won’t want to miss this important event!
Panel members will include:
The event will take place at the beautiful Crow Canyon Country Club and will include a tasty buffet dinner.
Dana H. Shultz, Attorney at Law +1 510 547-0545 dana [at] danashultz [dot] com
This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact a lawyer directly.
Forming a corporation for a foreign client (see Foreign Companies: Form a New Corporation when You Come to the U.S.) is a lot like forming a corporation for a domestic client. Having gone through the process dozens of times, however, I realize that there are three important post-formation issues that foreign clients often need help addressing:
- Obtaining an Employer Identification Number if no principal officer has s U.S. social security number – This process is described in Foreign Company Alert: Obtaining an EIN may be your Biggest Challenge in the U.S.
- Opening a bank account if the client does not yet have personnel in the U.S. – This problem was largely resolved today when I confirmed with an accountant who has helped several of my foreign clients that, as part of his services, he can take a Vice President position that includes responsibility for opening a bank account.
- Obtaining a visa to work in the U.S. – Realistic visa options are discussed in Visa Basics for Foreign Entrepreneurs Coming to the U.S.
Once you form your corporation and take care of these three issues, you will be ready to conduct business in the U.S.
Related post: U.S. Merchant Accounts for Foreign Companies – A Problem
Dana H. Shultz, Attorney at Law +1 510 547-0545 dana [at] danashultz [dot] com
This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact a lawyer directly.
The evening of Wednesday, February 16, the Silicon Valley Association of Startup Entrepreneurs (SVASE) will present Raising the First Round at the beautiful Crow Canyon Country Club in Danville, California (tasty buffet dinner included). Description from the SVASE website:
Whether it comes from VCs, angels, or friends and family, the first round of funding always is a challenge. Listen to experienced investors as they explain what they are looking for in early-stage companies, and to successful entrepreneurs as they describe what leads to success and what doesn’t. Learn how to identify the right investors, where to find them, and ways to structure the first round to set the stage for the next one.
The panel:
- Randy Hawks, Claremont Creek Ventures
- David Stern, Clearstone Venture Partners
- Skip Glass, Foundation Capital
- Bipul Sinha, Lightspeed Venture Partners
Moderator: Riaz Karamali, Sheppard Mullin
Dana H. Shultz, Attorney at Law +1 510 547-0545 dana [at] danashultz [dot] com
This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact a lawyer directly.
Recently I have seen a huge increase in the number of inquiries from prospective clients – especially foreign companies – interested in forming a corporation. One of their first questions usually is, “How much does it cost to incorporate?” This post answers that question.
First, though, I need to make a couple of points:
- The following is merely illustrative. While the services described below suffice for many clients, we can know whether they are right for you only after we discuss your specific requirements in detail.
- The only way we can agree that I will provide incorporation services is via an engagement letter signed by both of us.
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As you may know, during the past few years I have helped approximately 30 overseas clients – most from Europe – bring their businesses to the United States. I have seen, recently, a dramatic increase in the number of inquiries from such companies. I, thus, am pleased to announce the formation of US Launch Advisors (USLA), a network of seasoned, highly-skilled service professionals in the San Francisco Bay Area that helps foreign companies create successful businesses in the United States.
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In Act II, Scene II of Shakespeare’s Romeo and Juliet, Juliet wishes that she and Romeo could simply set aside their warring families, famously asking, “What’s in a name?” I thought about this question recently as I was helping a foreign client set up a corporation here in the U.S.
The foreign client is based in the U.K. It wanted to form a U.S. subsidiary with a similar name for brand-identification purposes. To avoid revealing the identity of the client, I will refer to it as “Amalgamated Widget Solutions, Ltd.” and the desired name of its U.S. subsidiary as “Amalgamated Widget Solutions, Inc.”
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Dana Shultz is a business-savvy lawyer located in Northern California's San Francisco Bay Area (in the East Bay, near Oakland) who has in-depth knowledge of law, business, technology, and the needs of startup and early-stage companies.