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Venture Deals : Be Smarter Than Your Lawyer and Venture Capitalist
- Author / Creator
- Available as
- Online
- Format
- Books
- Language
- English
- Contributors
- Publication
-
- 3rd ed
- Somerset : John Wiley & Sons, Incorporated, 2016
- ©2016
- Physical Details
-
- 1 online resource (300 pages)
- ISBNs
- 9781119259787, 9781119259794, 1119259797, 1119259754, 9781119259756, 9781119259800, 9781118443613, 1119259789, 1119259800
- OCLC
- ocn964912521
- Intro -- Venture Deals -- Contents -- Foreword -- Foreword -- Preface -- Acknowledgments -- Introduction: The Art of the Term Sheet -- Chapter 1 The Players -- The Entrepreneur -- The Venture Capitalist -- Financing Round Nomenclature -- Types of Venture Capital Firms -- The Angel Investor -- The Syndicate -- The Lawyer -- The Mentor -- Chapter 2 How to Raise Money -- Do or Do Not-There Is No Try -- Determine How Much You Are Raising -- Fundraising Materials -- Short Description of Your Business -- Executive Summary -- Presentation -- Business Plan -- Private Placement Memorandum -- Detailed Financial Model -- The Demo -- Due Diligence Materials -- Finding the Right VC -- Finding a Lead VC -- How VCs Decide to Invest -- Using Multiple VCs to Create Competition -- Closing the Deal -- Chapter 3 Overview of the Term Sheet -- The Key Concepts: Economics and Control -- Chapter 4 Economic Terms of the Term Sheet -- Price -- Liquidation Preference -- Pay-to-Play -- Vesting -- Exercise Period -- Employee Pool -- Antidilution -- Chapter 5 Control Terms of the Term Sheet -- Board of Directors -- Protective Provisions -- Drag-Along Agreement -- Conversion -- Chapter 6 Other Terms of the Term Sheet -- Dividends -- Redemption Rights -- Conditions Precedent to Financing -- Information Rights -- Registration Rights -- Right of First Refusal -- Voting Rights -- Restriction on Sales -- Proprietary Information and Inventions Agreement -- Co-Sale Agreement -- Founders' Activities -- Initial Public Offering Shares Purchase -- No-Shop Agreement -- Indemnification -- Assignment -- Chapter 7 The Capitalization Table -- Chapter 8 Convertible Debt -- Arguments For and Against Convertible Debt -- The Discount -- Valuation Caps -- Interest Rate -- Conversion Mechanics -- Conversion in a Sale of the Company -- Warrants -- Other Terms
- Early-Stage versus Late-Stage Dynamics -- Can Convertible Debt Be Dangerous? -- An Alternative to Convertible Debt -- Chapter 9 Crowdfunding -- Product Crowdfunding -- Equity Crowdfunding -- How Equity Crowdfunding Differs -- Chapter 10 How Venture Capital Funds Work -- Overview of a Typical Structure -- How Firms Raise Money -- How Venture Capitalists Make Money -- Management Fees -- Carried Interest -- Reimbursement for Expenses -- How Time Impacts Fund Activity -- Reserves -- Cash Flow -- Cross-Fund Investing -- Departing Partners -- Corporate Venture Capital -- Strategic Investors -- Fiduciary Duties -- Implications for the Entrepreneur -- Chapter 11 Negotiation Tactics -- What Really Matters? -- Preparing for the Negotiation -- A Brief Introduction to Game Theory -- Negotiating in the Game of Financings -- Negotiating Styles and Approaches -- The Bully (aka UAW Negotiator) -- The Nice Guy (aka Used-Car Salesman) -- The Technocrat (aka Pocket Protector Guy) -- The Wimp (aka George McFly) -- The Curmudgeon (aka Archie Bunker) -- Always Be Transparent -- Collaborative Negotiation versus Walk-Away Threats -- Building Leverage and Getting to Yes -- Things Not to Do -- Great Lawyers versus Bad Lawyers versus No Lawyers -- Can You Make a Bad Deal Better? -- Chapter 12 Raising Money the Right Way -- Don't Be a Machine -- Don't Ask for a Nondisclosure Agreement -- Don't Email Carpet Bomb VCs -- No Often Means No -- Don't Ask for a Referral If You Get a No -- Don't Be a Solo Founder -- Don't Overemphasize Patents -- Chapter 13 Issues at Different Financing Stages -- Seed Deals -- Early Stage -- Mid and Late Stages -- Chapter 14 Letters of Intent-The Other Term Sheet -- Structure of a Deal -- Asset Deal versus Stock Deal -- Form of Consideration -- Assumption of Stock Options -- Representations, Warranties, and Indemnification -- Escrow
- Confidentiality/Nondisclosure Agreement -- Employee Matters -- Conditions to Close -- The No-Shop Clause -- Fees, Fees, and More Fees -- Registration Rights -- Shareholder Representatives -- Chapter 15 Why Do Term Sheets Even Exist? -- Constraining Behavior and the Alignment of Incentives -- Transaction Costs -- Agency Costs and Information Asymmetry -- Reputation Constraints -- Chapter 16 Legal Things Every Entrepreneur Should Know -- Intellectual Property -- Employment Issues -- State of Incorporation -- Type of Corporate Structure -- Accredited Investors -- Filing an 83(b) Election -- Section 409A Valuations -- Authors' Note -- Appendix A: Sample Term Sheet -- Appendix B: Sample Letter of Intent -- Appendix C: Additional Resources -- Foreword to the First and Second Editions -- Glossary -- About the Authors -- Index -- Read on for an excerpt from Brad Feld's: Startup Communities -- Chapter Three Principles of a Vibrant Startup Community -- Historical Frameworks -- The Boulder Thesis -- Led by Entrepreneurs -- Long-Term Commitment -- Foster a Philosophy of Inclusiveness -- Engage the Entire Entrepreneurial Stack -- EULA