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How to Read a Patent – It’s All In the Claims

How to Read a Patent - It's All In the Claims from The Startup Garage

It may seem simple, but reading a patent and fully understanding what the patent actually covers can be rather difficult.  Let’s begin by reviewing the main sections of the patent.  First, we have the patent identification information: the patent number, title, patent holder’s name, owner of the patent (if different), the filing date, the issue […]

Trademarks, Copyrights, and Patents

Trademarks, Copyrights, and Patents from The Startup Garage

When starting a business, one thing to think about is security. Not just the security of your business in general, but security of your ideas and what you have created. This is where things such as trademarks, copyrights, and patents come in to play. These are ways to assure that your business is safe from […]

Top 5 Benefits of Creating Financial Projections

Top 5 Benefits of Creating Financial Projections from The Startup Garage

An old Woody Allen joke resonates with financial modelers and forecasters: “If you want to make God laugh, tell him your future plans.” We all know that financials projections are based on assumptions that likely never come true.  Yet, putting together the financial information for your startup might be one of the most important and […]

The Structures of Social Enterprise

The Structures of Social Enterprise from The Startup Garage

We are beginning to see more and more companies begin to blend their traditional corporate structures with a more modern obligation to philanthropy and social awareness. Social Entrepreneurism is on the rise and suddenly profit isn’t the only driving force behind big business. Across the nation, various legislations have passed to establish new corporate structures […]

Stock Option Plan Rule of Thumb No. 5

Solidify Relationships from The Startup Garage

This article was contributed by William W Eigner, Esq. & Brian Headman of Procopio, Cory, Hargreaves & Savitch LLP. Try Not To Jeopardize Relationships Up-front communication of a director or advisor’s term of service and duties helps to foster a healthy relationship and facilitate a potential termination without jeopardizing relationships. For start-ups, relationships can be an incredibly […]

Stock Option Plan Rule of Thumb No. 4

Stock Option Planning from The Startup Garage

This article was contributed by William W Eigner, Esq. & Brian Headman of Procopio, Cory, Hargreaves & Savitch LLP.   Set a Lenient Post-Termination Exercise Period When Possible If a director or advisor’s term is discontinued, a lenient post-termination exercise period may be very valuable to an option holder. I advise clients to draft the option grant […]

Stock Option Plan Rule of Thumb No. 3

Advisor and Director Share Schedule from The Startup Garage

This article was contributed by William W Eigner, Esq. & Brian Headman of Procopio, Cory, Hargreaves & Savitch LLP.   Subject Director And Advisor Shares To A Two-Year Vesting Schedule Directors assume general corporate law fiduciary duties and potential liability from the very first day they serve on a company’s board. For this reason, independent directors expect […]

Stock Option Plan Rule of Thumb No. 2

Stock Option Rule of Thumb from The Startup Garage

This article was contributed by William W Eigner, Esq. & Brian Headman of Procopio, Cory, Hargreaves & Savitch LLP.   Issue Options According To Value Added And Risk Taken Options are often issued as a reward, either for services rendered or risk assumed by the recipient. Thus, the number of shares and ownership percentage covered by the […]

Stock Option Plan Rule of Thumb No. 1

Stock Option Rule of Thumb from The Startup Garage

This article was contributed by William W Eigner, Esq. & Brian Headman of Procopio, Cory, Hargreaves & Savitch LLP.   Reserve 10-20% Of Your Company’s Outstanding Equity For A Stock Option Plan Equity incentives are a major form of compensation for most emerging growth and technology companies. Without them, most start-ups cannot afford critical labor, let alone […]

Equity Options to Attract Directors and Advisors

Equity Options to Attract Advisors and Directors from The Startup Garage

This article was contributed by William W Eigner, Esq. & Brian Headman of Procopio, Cory, Hargreaves & Savitch LLP.  William Eigner’s bio is available at https://www.procopio.com/attorneys/william-w-eigner and his LinkedIn is available at https://www.linkedin.com/profile/view?id=616218&trk=tab_pro. A properly selected Board of Directors and Board of Advisors can be an invaluable asset to an emerging company. Building these boards is an early opportunity for […]