Bullhorn

A recent Delaware court case discussed what type of action is necessary for directors to resign from a corporation’s board of directors. Ultimately, the court held that director resignations need not be in writing because Delaware Code Section 141(b) is a permissive statute.

 Summary of the Case

The CEO of Biolase, Inc, Federico Pignatelli, thought that Biolase’s board needed more experienced directors, and he asked some of the board members to resign so he could fill their positions with more seasoned directors. The board members resigned. But without Pignatelli’s knowledge, the directors he wished to replace had also aligned themselves with the new board members in order to try and replace Pignatelli as CEO. In an attempt to disrupt the new board…

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Business Lending

Nearly every business will at some point need to obtain financing to start or grow. While many startups and other businesses will look for investors to fund their business by means of equity investment, most businesses will take on debt either instead of or in addition to investment. The “5 C’s” of business lending are five key elements that...

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COPPA

Are you about to launch a new app with youth appeal? Are you hoping that your new game will trend with tweens? Hold on—you might have to comply with the Children’s Online Privacy Protection Act (COPPA).

The government isn’t known for being on the cutting edge with technology, but the Federal Trade Commission seems to be well aware of apps...

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LLC Member Salary

As we’ve discussed in previous posts, the limited liability company (LLC) entity offers a ton of flexibility when organizing the management and economic structure of the company. Because of this flexibility, the LLC has quickly become the most popular entity to form when seeking limited liability protection for new businesses. One question that often crops up is, “Can I...

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Protecting IP

One of the first requests that investors make before investing in a company is that the founders (and all key employees) execute written intellectual property assignment agreements. These agreements make it so any intellectual property that is created by the founder for the company will be owned by the company, not the founder individually. Generally, this request does not...

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Choice of Entity

As we’ve discussed in previous posts, the limited liability company (LLC) entity offers a ton of flexibility when organizing the management and economic structure of the company. Because of this flexibility, the LLC has quickly become the most popular entity to form when seeking limited liability protection for new businesses. Below we’ve highlighted one important consideration when forming your...

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Cliff jumping - Accredited Investor Entity

It is common for investors to invest in startups and other offerings using some form of limited liability entity rather than investing as an individual. When you invest as an entity, e.g. XYZ LLC, it is important to understand the SEC’s definition of accredited investors in order to determine whether your entity is considered an accredited investor under Rule...

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Seattle Minimum Wage

Earlier this month, the City of Seattle passed an ordinance that established a $15 minimum wage for employees working in Seattle. In this post, we’ll breakdown the details of the new local law, so you have a basic understanding of how it will affect your business. 

When does the new law take effect?

The ordinance will take effect on April 1,...

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Trademark Registration

Last week, the United States Patent and Trademark Office cancelled six federal trademark registrations for the Washington Redskins name, ruling that the name is “disparaging to Native Americans” and thus cannot receive trademark protection under federal law, which prohibits the protection of offensive or disparaging language. “We decide, based on the evidence properly before us, that these registrations must be cancelled...

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Blueprint

To get the best deal, have your space meet your needs, and be in the best position to move seamlessly through the commercial leasing process, it is important to plan your commercial space. Today’s post highlights some of those key early stage considerations that will help you optimize the space planning process for your business.

Identify Your Ideal Space

The first...

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