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Legal Issues for Start-Ups
Merrill M. Mason
December 2, 2010
“The thing that drives me and my colleagues both at Apple and Pixar is that you see something very compelling to you and you don’t quite know how to get it, but you know, sometimes intuitively, it’s within your grasp. And it’s worth years of your life to make it come into existence.”
“Starting companies are like having babies –
fun to conceive but hell to deliver.”
Voice of Reason
Planning for the Future
Making Initial Decisions
Forming Legal Entity
Limited liability for stockholders
Charter is a public document
Follow up on organizational matters
What are bylaws?
What do bylaws address?
What may be included?
(contract v. charter v. bylaws)
“Only one thing is certain about a new venture:
It’s going to turn out very different from its business plan.”
-- William Congolton, Venture Capitalist