entrepreneur's legal cookbook session 1 for startup palm beach
DESCRIPTION
Juicy legal tidbits entrepreneurs can sink their teeth into. Session one introduces The Entrepreneur's Legal Cookbook concept and goes over issues with former employers and setting up an entityTRANSCRIPT
Recipes and juicy legal tidbits you can sink your teeth into™
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
About me
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
I like entrepreneurship, the law and food, so I’m mixing them together to provide legal information to entrepreneurs in
delicious, digestible, bite-sized pieces.
As a shareholder at Gunster, I have helped my clients, including various Inc. 500 and Inc. 5000 companies, launch new products, negotiate key deals, and assimilate new divisions into existing legal frameworks. I have also helped numerous start-ups get funded, deal with the myriad of issues that arise as they grow, acquire companies and be acquired.
What else? I have Martindale-Hubbell’s AV Preeminent rating, have been recognized by Super Lawyers, Florida Trend Legal Elite and the South Florida Legal Guide, have appeared on television, and have been quoted in publications such as the National Law Journal, E-Commerce Times, Florida Trend magazine, the South Florida Business Journal, and the Miami Herald.
CHANGE THE WORLD
Why are you an entrepreneur?
LIFESTYLE
CREATIVE
ACCOMPLISHMENT
INDEPENDENCE
BEING YOUR OWN BOSS
OPPORTUNITY
IMPACT
LEGACYFAMILY
AUTONOMY
MONEY
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
1. A great team2. A good business model3. Adequate capital4. Risk management
What’s the recipe for success?
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
INGREDIENTS:
Lawsuit with a former employer
Losing personal assets for failing to form an entity
Unplanned fallout between founders
Confidential information in competitor’s hands
Disputes with employees all over the news
Equity grants unattractive to future investors
Unlimited liability in contracts
Fail to get appropriate insurance
Don’t protect intellectual property
What’s the recipe for disaster?
DIRECTIONS:Toss one or more of those together, and…
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
You and your business are burnt toast.
Voila!
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
A tasty and refreshing way to look at business law. ™
What’s on the menu?
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
What’s on the menu?
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
What’s on the menu?
Digestible, bite sized, nuggets of legal information, to helpentrepreneurs get cooking and not get burned.
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
Obligations to former employers
What’s on the menu?
Why forming an entity matters
Dealing with co-founders
Protecting trade secrets
Raising funds
Having a board of directors
Dealing with contracts
Granting stock and options
Engaging employees & contractors
Working with developers
Insurance coverage Social media and Internet law
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
Start a business not a lawsuit.
Today’s Special!Former Employer Bites
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
Former Employer Bites
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
INGREDIENTS:
non-competition
non-solicitation
confidentiality
no moonlighting
ownership
tortious interference
duty of loyalty
DIRECTIONS:
- Review your agreements
- Understand your obligations
- Understand the repercussions
- Align your interests
Protecting personal assets and other advantages.
Today’s Special!Form an Entity Cheese Ball
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
Form an Entity Cheese Ball
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
INGREDIENTS:
C-Corporation
S-Corporation
Limited Liability Company
Limited Partnership
DIRECTIONS: • Determine the number of
owners
• Determine if you need owners with different rights
• Consider tax implications
• Determine the management structure
• Consider incentivizing employees
• Consider effect on raising capital
• Consider familiarity
• Form the right entity and follow corporate formalities
What are we having next time?
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
Recipes and juicy legal tidbits you can sink your teeth into™
Gaida Zirkelbach@Gaidain/gaidaLegalCookbook.com
Cheers!