We’re often asked about what financial or other company information has to be disclosed to investors and stockholders, what information can be demanded, and what information can be kept internally. We’re kicking off a two-part series to clear up some commonly asked questions about financial inspection rights, starting with the […]
Continue to follow our blog as we chronicle the newest litigation facing Uber. Uber’s Latest Legal Battle By now, you may have heard about the latest of Uber Technologies’ woes: a lawsuit, filed by one of their earliest venture capital investors, Benchmark Capital. Benchmark has alleged that Uber’s founder and now-former […]
Prior to entering into negotiations with an angel investor or venture capitalist there are multiple due diligence-related items the VC will want evaluate in order to make the decision whether to invest in your company, and if so, how much they want to invest. Failing to properly plan for these […]
This year, Ohio made important updates to both its corporate and LLC codes. Overall, the changes to the corporate code were well warranted and should be seen as an improvement over the previous iteration of the code. However, the updates to the LLC code, especially in the area of fiduciary […]
Each month the Gillespie Law Group compiles the most recent legislative and regulatory developments that could affect startups, tech companies, and website owners. “Crowdfunding” Update: As we reported last month, the House approved the Entrepreneur Access to Capital Act, H.R. 2930, known to many as the “crowdfunding” bill. This bill would […]
Over the past year, the tech startup world has seen a significant increase in the number of incubators throughout the country. Incubators – sometimes called startup accelerators – are organizations that work with entrepreneurs to develop their startups. Often, in exchange for a small stake in the startup, an incubator’s […]
Wikipedia defines a “social enterprise” as “any for-profit or non-profit organization that applies capitalistic strategies to achieving philanthropic goals.” The concept has been getting quite a bit of attention recently–without a doubt, for good reasons. Within the past few years, the Low Profit Limited Liability Company (“L3C”) and the Benefit […]
Startup and growing companies often use deferred compensation as an effective way to attract and retain important employees. Unfortunately, this process has been complicated by a recent tax change that significantly penalizes a broad range of “non-qualified” deferred compensation plans. Under Section 409A, deferred compensation which does not meet certain […]
On December 17, 2010, President Obama signed the 2010 Tax Relief Act into law, and among other things, extended the 100-percent tax exclusion from capital gains of qualified small business stock (QSBS). As background, on September 27, 2010, President Obama signed H.R. 5297 Small Business Jobs Act of 2010 (P.L. […]
It can be a huge money-saver for a small business to get into the practice of working with independent contractors. Using independent contractors will lower a companies tax bill, require less withholdings, and in some states, reduces the obligations under workers’ compensation requirements. As a result, many small businesses advantageously hire independent […]
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