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How to Classify Employees as Exempt or Nonexempt

When hiring employees, a company should ensure it is complying with applicable federal, state, and local laws regarding employee minimum wages, withholdings, and other applicable requirements. To ensure compliance, employers must first determine whether an employee is “exempt” or “nonexempt.” Nonexempt employees are entitled, among other things, […]

Interns are Likely Employees

Summer is often the season when employers consider hiring interns, but there is never a wrong time to brush up on the wage-and-hour laws surrounding paid and unpaid interns. Startup companies may view an internship program as an opportunity to hire students and develop unpaid internship programs. […]

NY Tech Week: Term Sheet Tear Down with BBG Ventures and Perkins Coie

October 17, 2023 BBG Ventures & Perkins Coie co-hosted a Term Sheet Tear Down Happy Hour during NY Tech Week, teaching women and diverse founders the intricacies of term sheet negotiation and “founder-friendly terms.” The interactive conversation with BBGV Principal Claire Biernacki and Perkins Coie Counsel Yashreeka […]

Dealing with “Dead Equity”

“Dead equity” refers to company stock owned by individuals and entities no longer contributing to the company. In general, there are two types of dead equity seen on emerging company cap tables: Departed founders/employees. A co-founder or early employee leaves a company or no longer significantly contributes […]

International Women’s Day Client Spotlight: Cherie Hoeger

Happy International Women’s Day! Today is a day to recognize the achievement of women in our lives, acknowledge that gender bias still exists, and take action to forge women’s equality. This year’s International Women’s Day theme is #BreakTheBias, so we reached out to a few of our […]

When and How to Publish Technical Disclosures as Prior Art

Should you file a patent application or keep your innovation a trade secret? This question is routinely asked by key decision makers, such as inventors, managers, and legal counsel, when evaluating a new invention. While either choice comes with its own set of advantages and trade-offs, an […]

Top Five Differences Between Convertible Notes and Safes for Founders

SAFEs and convertible debt financings broadly accomplish the same goals for early-stage (and even later-stage) emerging companies. The legal and negotiation costs of these instruments are typically an order of magnitude less than a traditional “equity” financing (Series Seed, Series A-Z, etc.), and for the most part […]

The Delaware Franchise Tax: Don’t Freak Out

Within the next few weeks, corporations incorporated under the law of Delaware will receive ominous notices from their registered agents or the Delaware Divisions of Corporations advising such corporations of their annual obligation pay the their Delaware Franchise Tax. Save for “83(b) elections,” “scalability” and “valuation”, no […]

Term Sheets – Potential Traps for the Unwary

During its life cycle, a typical company enters into several key transactions. These can include debt and equity financings, an exclusive license of the company’s proprietary technology or an acquisition of the company by a strategic buyer. Before signing the “definitive agreement” for a key transaction, however, […]