In my last post I talked about the responsibilities that board members have to a company both before and after insolvency occurs. The list below provides some practical precautions for prudent directors in financially distressed companies to keep in mind. Below are some practical precautions that a prudent director of a financially distressed company should [...]
Corporate directors of a financially healthy and solvent company have a fiduciary responsibility solely to the corporation and its stockholders and do not have a duty to creditors beyond the contractual duty owed by the company. In today’s economy, many companies face unprecedented financial strains and, as the financial situation deteriorates and nears insolvency (aka [...]
Patents, trade secrets, know-how, copyrights, and trademarks can be crucial to your business. Managing this intellectual property can make the difference between fortune and failure. This brochure presents ten recommendations for protecting what belongs to you. In the spirit of David Letterman, here’s my Top 10 List. #1 Obtain written assignments of all inventions and [...]
Intellectual property litigation can be the death knell of a startup. Not only is the litigation costly, it distracts the company founders from operating and growing the business, and it makes it a lot it harder (if not impossible) to raise capital. If the litigation turns out really badly, an injunction can be issued that [...]
Join us on Facebook
Follow us on Twitter
Entrepreneurs Beware of Overlawyers
Every once in a while, I’m reminded just how harmful overlawyering can be. I just finished preparing an operating agreement for 3 partners in a new venture. They have a promising startup with a couple hundred thousand in seed capital, seeking to raise maybe a half million more to fund their initial operations. I worked [...]