SaaS Attorney, lawyer negotiations in representing customers related to SaaS Vendor Enterprise Agreement deals and contracts call top SaaS Attorney Andrew S. Bosin at 201-446-9643.
Andrew is a former SaaS entrepreneur who owns and manages a Technology Law Firm from offices in New Jersey serving SaaS, Software, Cloud and App companies, startups, vendors and resellers nationwide.
SaaS Attorney Helping SaaS Companies Across the US.
Andrew represents SaaS companies across the USA located in Charlotte, Los Angeles, Salt Lake City, Phoenix, Tampa, Orlando, Washington DC, Connecticut, Houston, Pittsburgh, New York City, San Diego, Columbus, Ohio, Las Vegas, Raleigh, Nashville, Boston, Atlanta, Kansas City, Miami, Albany, Denver, Chicago, Long Island, Silicon Valley, Dallas and San Jose, CA.
From his own startup experiences Andrew understands organically what it means to create a budget, financial projections, sales decks and pitch decks. Andrew understands also how to project costs, expenses, capex and how to effectively and properly budget raised capital.
One of things that Andrew tries to impart on startup entrepreneurs is that they are going to need a lot more money than they think in having a chance at even building and scaling their company let alone having any success. See also https://saas-lawyer.com.
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If a group of entrepreneurs pitches an investor and the startup collectively has very little in the way of business experience among its founders it is going to either have to have a product or service that will offer tremendous value in the marketplace or demonstrate to the investor the seriousness of what they are doing with creating very sophisticated and well thought out business plans and financial and cost projections.
It is also likely that any serious investor will stay away from a startup where the founders have no skin in game. This means that if a founder fully vests in shares contemporaneous with incorporation any serious investor will be concerned with some of the founders leaving the company with all of their shares. See also
If your startup issues all of its common stock immediately there will be no stock left over to go out and get some key hires that you will likely need during the first year of your startup’s existence. Any investor who is seriously thinking about putting money into your company will question why you issued all of your stock to the founders in the first round.
This information just scratches the surface of this topic. It goes without saying that you should ask your legal counsel and accountant to review all of your corporate business structure options to make sure you understand the tax, business and legal issues involved and to help make sure that you and your co-owners choose the best legal structure that works for all.
Below are just some of the issues that Pre-A Round SaaS Startups should think about. This list is not dispositive and not being offered for legal advice but rather for information purposes only.
Both entrepreneurs and serious investors prefer startups that have incorporated in Delaware because it offers the startup the greatest flexibility in terms of structuring boards of directors, stock issuance and preference, and voting rights. It also provides the broadest privacy protections. Specifically, there is no requirement to list director or officer names on formation documents.
For these reasons and more, serious investors typically prefer companies that incorporate in Delaware as a C-Corp.
On the flip side, there are some negatives and disadvantages to forming a company in Delaware as you will be required to file an annual report in Delaware. Also, Delaware requires that you regularly submit franchise taxes, even if you’re paying those taxes to the state in which you are already doing business.