Seeing the Big Picture

Perfecting the Pitch�Solve Big Problems with Unique Solutions

Seeing the Big Picture

When starting a new company, it’s easy to focus entirely on the business you are building, but it’s also important to make sure that you see the big picture. Here are three areas to keep covered:

1.  Make sure a market exists. While you may be convinced that you have the answer to an important question, talk to people who know the space you are trying to move into. They can help you figure out whether your solution addresses a pressing need that people are willing to pay for.

2.  Protect your intellectual property. Under the new “first to file” rules, you need to make sure that you are the “first inventor to file” in order to protect all of your intellectual property—not just your patents. Your trade name is a powerful part of your brand and provides real value to you and your investors.

3.  Establish a regulatory pathway. Make sure you have addressed all of the regulatory issues that might affect your business and that you understand how to navigate the jungle of rules and regulations. Savvy investors will want to hear your strategies.

You’ve Got VC Money: The Punchlist

As outside counsel to thousands of VC-backed startups, we are often asked the same questions about what startups need to do after raising their first round of VC financing. Here is a quick and dirty list of those next steps. The action items below are described in…

You’ve Got VC Money: Board Meetings

Board meetings are your opportunity to check in with and give an update to your bosses and get feedback and guidance from the experienced members of your board. It is common for VC-backed startups to have four to six board meetings per year, though this frequency can…

You’ve Got VC Money: Board vs Stockholder Approval

While your financing agreements might have other requirements, below is a nonexhaustive list of the types of corporate decisions that typically require board and/or stockholder approval: Board Approval Is Required to: Stockholder Approval Is Required to: Amend the charter or bylaws. Approve significant corporate transactions (e.g., sale…