To begin with, expect the unexpected. All bankruptcies are different.
Don’t Give the Company Any Money Back
Likely your current/former employer owes you money. Even though this is true, they may try to convince you that you actually have to give past paid salary back to them. DON”T DO IT! Also, your company might not be your employer anymore. When a company goes into bankruptcy it is sometimes run by the former owners, sometimes it is place in the hands of a “Trustee” who is supposed to do what is in the best interest of the creditors of the company. When I say “company” I am using it to describe the owners of the company or the trustee.
Raising capital is one of the entrepreneur’s most difficult and time-consuming activities. Not all money is the same and the structure of those early investment rounds could have an impact on future returns. Today, seed stage rounds provided by angels or early stage VCs usually come in the form of priced rounds or convertible note/convertible debt. These two vastly different types of securities are used for smaller rounds of financing at the early stage of a company’s life cycle.
Privacy Policies are Required Everywhere
It's a practice of being transparent towards your users about what is happening with their personal data that they are providing you with - knowingly and unknowingly. Here is a comprehensive overview of the legal landscape.
Every start-up company is unique, but they will encounter many of the same challenges and obstacles. I have worked with many types of entrepreneurs in the start-up stage. Based on my work with these entrepreneurs, the five following things emerged as those that every start-up must consider.
Follow the Advice of those who have gone ahead of you and it can save you time, money, and hardship when getting your business off the ground. Early stage start-ups need to address critical aspects of the business including structure, documentation, intellectual property, terms, and focus.
Author: Aimee Haynes
I motivate, I blog, I listen, I give advice, I help, I create, I work with others, I stand my ground when needed, and I am always open to new ideas. In addition to the qualities that define me most, I'm also a Corporate Law attorney working with entrepreneurs, creatives, and small businesses to help them achieve success.