Advising Entrepreneurs in New Business Start ups Law Firm Program Law (7250)
The purpose of the course is to expose the students to the wide variety of issues that arise when an entrepreneur forms a business entity to develop, manufacture and sell a new product. We will work on issues from pre-formation through early stage financing to the initial creation of a private placement strategy.
The course will provide the students the opportunity to engage in a series of simulated transactions involved in the founding and initial financing of a startup company engaged in the development of a green energy technology. The students will counsel the inventor and an initial financing/consulting partner in establishing the business, including choice of business organization and formation of the entity, initial licensing and protection of the intellectual property assets of the business, and the potential need for joint representation and conflict waivers. The course will also address the importance of compliance through ongoing disciplined governance of the entity, conflicts of interest and fiduciary duties inside the company, risk management including insurance matters, and maintaining flexibility to allow for multiple possible investor exit strategies.
- Credits: 2, 3