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Giving and Getting Advice

I had the pleasure this weekend of judging the 2017 IBK Business Plan competition which brings MBA students from around the world in a head to head elimination competition, showcasing the next big thi...

Angel investors – guiding you through the abyss

So you have an idea. It starts in your head and your excitement leads you to bring it to the world. You describe it to some folks.  Some of those folks understand it, some don’t.  Some quest...

Pattern Matching

I just watched this video on spirals and it struck me that pattern matching is very important to us collectively.  Pattern matching is helpful.   It makes us better athletes, more efficien...

Researching Openness

I’ve been researching the concept of “openness” in organizations.  I came across this concept when I watched this fireside chat with Mike Cannon-Brookes of Atlassian at Startup Battlefie...

Who Are We?

Our team is growing at my beloved Clausehound.com, and that is great.  It is no longer a big panic to get from version to version or from demo to demo.  New staff and old staff are starting ...

Side-Hustling Your Way Into a New Career

For this week's Founder's Only I dug into Faheem's podcast archives.  Faheem is a member of Founder's Only, and he and I were MBA friends over a decade ago.  We both ran the campus entrepreneu...

Common Binding Terms in a Letter of Intent

Negotiating a contract can be a messy process. Parties often need to engage in several rounds of back-and-forth negotiation to find a mutually satisfactory deal, and many details are not settled until...

Pre-emptive Rights – Who Do They Benefit?

What is a Pre-emptive Rights Clause? Pre-emptive rights clauses can protect existing shareholders from the dilution of their proportionate holdings, and is a type of protection sought by founders a...

The Co-Founder Relationship

Julie Zuzek "the Corporate Yogi" and I have been friends for nearly a decade, and I have often tried to apply her approach to the “entrepreneur mindset” over the course of my own founder jou...

Why do you enter into legal agreements?

What is this document? This is one of clausehound.coms legal templates. Feel free to scroll through the contract and determine whether the template is useful for your needs. You can login and brows...

Dividends: What, When, How?

Dividend structuring and timing are making headlines presently. (For example:  The Globe and Mail:  Ottawa to rein in income 'sprinkling' by wealthy Canadians and the Financial Post: What the new...

Three reasons to declare the business of your company

As lawyers we are often guiding our clients on defining the “business of the company”, so I thought I’d write a post on this topic.   “Business of the company” is formally declared in ...

When to say no: The Right of First Refusal

We are often asked about the right of first refusal clause (ROFR), and so we thought it would be useful to survey the features of a right of first refusal clause here. For a business with sharehold...

Liquidation Preference: Cashing Out

A liquidation preference is a commonly requested investor term. The idea around a liquidation preference is that the investor will receive their funds out of the business prior to the existing shareho...

When is it time to change your corporation’s name?

  We had previously written an article on the selection of a business name, and as well a second article on defending your business name.  I thought I would write an article about changing a ...

Why Indemnify? Director’s Liability – Sources and Mitigation

When most of us think about directors of corporations, what comes to mind is the hefty pay (at least in bigger corporations), the prestige, and the power. But with power comes responsibility; the subj...

Authorizing vs. Allocating vs. Issuing Shares in your Company

Company owners or investors, when drafting or digging through the details of the ownership of company shares, will come across the concept of authorized shares, issued shares and sometimes allocated (...

Breaking Down Share Issuance Step by Step

This article provides an overview of the steps involved in issuing shares, once the negotiations with investors have been completed. To summarize, the process includes the following steps: 1) Subsc...

Dividends: What, When, How?

Dividend structuring and timing are making headlines presently. (For example:  The Globe and Mail:  Ottawa to rein in income 'sprinkling' by wealthy Canadians and the Financial Post: What the ...

The New One Percent Is Giving

As soon as I met Jennifer and Upside Foundation of Canada, I liked what they were all about.  Their foundation promotes the allocation of 1% of your company’s equity to a charitable purpose.  Rese...

Non-Disclosure Agreements: Tools for One and for All (Even Celebrities!)

Non-Disclosure Agreements (or “NDAs”) are common in a vast array of business contracts; however, their use is not in any way reserved or confined to business contexts. Celebrities have used NDAs t...

In the eye of a Hurricane, there are quietly unexercised stock options

Co-authors:  Brendan Sheehan and Rajah Lehal   Introduction The case of Hibberd v. Hurricane Hydrocarbons Ltd. involved various issues regarding many stock options that were not exe...

Multiplicity’s Next Accelerator – Startup Boost Toronto. Apply by September 26!

Our partner organization Multiplicity is excited to announce their next accelerator program! Multiplicity is now joining forces with TWG and the Global Accelerator Network to launch t...

Buying and Selling Shares – Investor Disclosure

And:  What Investors Should Know About Their Rights When Dealing With Brokers There are compelling reasons to invest in a startup company’s shares. But with the benefits of investing...

How much should you compensate your startup company board of advisors/directors?

Who’s Who?   Directors - names are (in most jurisdictions) recorded on the public registrar, role is to protect the shareholders, accept some legal liability, vote on company major decisions. No ...
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