Steven Stark Startup Lawyer for Groton, MA
Joshua Garber Startup Lawyer for Groton, MA
William Smith Startup Lawyer for Groton, MA
Thomas Camp Startup Lawyer for Groton, MA
Steven Rowell Startup Lawyer for Groton, MA
David Harlow Startup Lawyer for Groton, MA
Tim Moynihan Startup Lawyer for Groton, MA
Michel Bamani Startup Lawyer for Groton, MA
John Ray Startup Lawyer for Groton, MA
Groton Startup Lawyers
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- 6 min read
The Delaware LLC Act governs the limited liability company structure in Delaware. The structure is essentially a hybrid of the best features of both corporations and partnerships and the owners are called “members.” If you incorporate under the Delaware LLC Act, you do not need to have an operating agreement, though you may have an agreement that governs some of the affairs of the limited liability company. Delaware has some of the strongest protections from liability for owners in the country, which is just one of the many reasons people choose to form a company in Delaware.
Why is the Limited Liability Act Important?
The main reason the Delaware LLC Act is important is that it is treated as a partnership for tax purposes, but provides the protection that a corporation offers. LLC’s in Delaware are one of the most popular entities filed, Other important features are that the owners and managers of an LLC are not personally liable for ob
- 3 min read
Registering a Company: What Is It?
Registering a company means taking the steps necessary to both form an entity for your business in a state and obtain the permits and licenses needed to operate the business.
Each step in registering a business requires that you consider your options, complete and file the necessary forms and then pay the filing and registration fees. Unless your business structure, ownership and activities are simple, you will need the advice of an accountant and a lawyer to register a company.
Steps for Registering a Company
1. Choose and Reserve a Company Name
You’ll need to choose a name for your company after searching the state’s database of names used by companies formed in the state and companies formed in other states that have qualified to do business there. To avoid confusion, state laws prohibit two companies from having similar names, so think of a few options you are willing to use in
- 4 min read
Regulation D: What Is It?
Regulation D is the most common method that startups use to raise money from investors without being required to register with the SEC. Using a Regulation D offering, businesses raise money faster by selling equity or debt securities while avoiding the complicated filing process and avoiding the cost of a public offering.
Regulation D contains three rules allowing exemption status:
“Seed capital” exemption: provides an exemption and sale of up to $1,000,000 of securities in a 12 month p
- 5 min read
What Is a Condition Subsequent?
A condition subsequent (CS) is an exit clause from an existing contract. The agreement between parties includes language that frees one of them from the deal. This happens when a conditional outcome occurs. A CS relieves a party of all obligations.
What's the Purpose of a Condition Subsequent?
Think of a condition subsequent as an escape clause. It ends a party's contractual obligation. In contracts, all involved parties have certain responsibilities. The CS gives one party the ability to walk away from the promise to perform a duty.
A CS is a kind of insurance for one or more parties. It makes sure that one of the groups in the contract can leave when certain conditions are met.
Think of a contract as a series of promises. Everyone who signs the agreement must keep their promises. Sometimes, a
- 5 min read
Reverse Vesting: What Is It?
Reverse vesting occurs when a company's co-founder receives their shares and ownership interest upfront. This exchange is subject to vesting similar to employee stock options. If the co-founder leaves, the company may repurchase a set amount of those shares.
What Is a Restricted Stock Purchase Agreement?
When a company wants to initiate a repurchase of the co-founder's stock, it uses a process called a restricted stock purchase agreement. It's a specific term that reflects the type of stock, a restricted class, and the type of contract.
The purchase agreement is the agreement between the co-founder and the company that the latter party can buy back the stock. The transaction isn't guaranteed. They're simply holding the right to do it if the situation arises.
The business keeps the restricte