What is a Management Rights Letter?
Here’s a situation we see often when a company is negotiating a Series A financing. They’ve gotten through diligence, completed the lengthy and difficult…
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An Introduction to Convertible Notes
What is a convertible promissory note? A convertible promissory note is a debt instrument that converts into equity of the issuing company upon certain…
Down Rounds – What Are They and How to Mitigate Litigation Risk
“Down rounds” and why they are contentious Early-stage companies often raise capital in multiple rounds. While founders and investors hope that a company’s valuation…
BE-10 Benchmark Survey Filing: U.S. Investment in Foreign Businesses
The Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce is conducting a 5-year benchmark survey of U.S. investment in foreign interests. …
Founders, Finders and Financings: Beware the Unregistered Broker-Dealer
Raising money is hard. Many founders think that it’ll be easy, and that a dozen investors will be lining up outside the room after…
