Preparing For Funding Ep2: Founders’ Agreements – Recut Office Hours With Vela Wood podcast

Preparing for Funding Ep2: Founders’ Agreements – Recut

2y ago 29:52

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Office Hours is our podcast covering general issues related to small businesses and startups. Preparing For Funding is a series of Office Hours episodes hosted by VW Partners Kevin Vela and Rad Wood about getting your company’s legal house in order before taking on funding. We are recutting this series to reflect updates in law and venture trends in the last 5 years to better help you navigate through preparing for funding.

In this episode, we discuss founders’ agreements, including Restricted Stock Purchase Agreements (RSPAs), Confidential Information and Inventions Assignment Agreements (CIIAAs), and Non-Compete and Non-Solicitation Agreements.

Time Stamps

1:48 – Why It’s Important to Have Founders’ Agreements
4:35 – How Can Someone Walk Away with a Third of the Company?
6:03 – Restricted Stock Purchase Agreement (RSPA)
9:21 – Vesting Schedule
11:37 – Single Trigger v Double Trigger Acceleration
14:55 – 83(b) Election
17:00 – Non-Compete and Non-Solicitation Agreements
18:15 – Confidential Information and Inventions Assignment Agreement (CIIAA)
22:37 – Ideal Number of Founders
26:47 – Founders Stock