Tagged: California

Top 10 highlights from the StartEngine – ICO 2.0 Summit

On Friday, November 10th StartEngine hosted a summit focused on regulated ICOs.

Check out the Top 10 Highlights from the event:

  1. Management and company counsel might need to consult with local legal counsel in other countries to ensure compliance with rules and regulations of other countries. The level of compliance requirements might ultimately result in eliminating countries from the token offering. For those countries that do not get eliminated, be sure to include relevant disclosures by country (and state).

 

  1. There are several possible federal exemptions and securities regulations that can be used, such as 506(c), the Crowdfunding regulation, Regulation A+, and Regulation S. If you’re relying on more than one, be sure you’re complying with the requirements of each, as they may be different. Also, be careful to also comply with state securities exemption requirements, if necessary.

 

  1. In order to comply with the advertising rules for US and non-US investors, consider having the tokens sold in the US be different from tokens sold to foreign investors.

 

  1. Company should consider as a risk factor what the implications are if their token cannot handle the large number of users at the end of their token sale.

 

  1. “Curb your enthusiasm”, meaning what you say today in marketing and advertising can be used against you later.

 

  1. When determining whether an investor is accredited, go beyond just a questionnaire. Get bank statements or a letter from their accountant to verify income.

 

  1. The variety of possible exemptions and securities regulations all have different resale restrictions to be considered and complied with during token sales.

 

  1. Be extra diligent when doing your know your customer (KYC) and anti-money laundering (AML) checks.

 

  1. Some investors think there is too much emphasis on who the Company’s advisors are during an ICO. Instead, the focus should be on identifying for investors: (1) who is on the management team? (2) what is the opportunity? (3) what is the smart contract code itself and has it been audited? (4) what is the overall marketplace analysis? and (5) what is the company’s expectation for the use of proceeds?

 

  1. Investors should have engineers and coders on their team to look at the smart contract code during diligence.

 

If you missed the event or for more information visit: https://www.startengine.com/ico

 

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Last Call! Top Ten Legal Mistakes Made by First Time Entrepreneurs on Thursday Oct. 19th

Last call to RSVP for our event tomorrow, Top Ten Legal Mistakes Made by First Time Entrepreneurs.

The event is FREE, but please register here:  https://connectpasadena.com/events/top-10-legal-mistakes-made-by-first-time-entrepreneurs.

 

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Sept. 16: First Time Entrepreneur workshop

Calling all first time entrepreneurs!

LAVA’s fall First Time Entrepreneur workshop is scheduled for  Saturday, September 16, 2017!

We will also have a special guest speaker: Venture Investor Buck Jordan, of Canyon Creek Capital

At this workshop you will learn how to:

  • Determine the value of your company
  • Put together a capitalization table
  • Understand how Venture Capitalists screen potential investments
  • Understand the differences between trademarks, copyrights and patents and when you need each of them
  • Work with co-founders
  • Network at startup events — the right way

 

For more information and to sign up, visit: First Time Entrepreneur Workshop.

 

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First Time Entrepreneur Workshop: September 16, 2017

Our fall First Time Entrepreneur workshop is scheduled for  Saturday, September 16, 2017!

At this workshop you will learn how to:

  • Determine the value of your company
  • Put together a capitalization table
  • Understand how Venture Capitalists screen potential investments
  • Understand the differences between trademarks, copyrights and patents and when you need each of them
  • Work with co-founders
  • Network at startup events — the right way

For more information and to sign up, visit: First Time Entrepreneur Workshop.

 

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Statements of Information for LLCs in California can now be filed online

The California Secretary of State’s office announced this week that statements of information for California limited liability companies (LLCs) can now be filed online.

Secretary of State Alex Padilla said the goal with implementing this online service for LLCs is to streamline the process so that “entrepreneurs can focus less on red tape and more on growing their business.” Corporations already had the ability to file statements of information online, but previously the statements of information for LLCs had to be mailed into the Secretary of State’s office.

As a reminder, statements of information are due 90 days after initial formation and every 2 years thereafter. They also require interim statements of information if any information needs to be updated.

The new online form can be accessed here: https://llcbizfile.sos.ca.gov/.

 

See the full press release here: http://www.sos.ca.gov/administration/news-releases-and-advisories/2017-news-releases-and-advisories/secretary-padilla-announces-llc-statements-information-can-now-be-filed-online-and-new-bizfile-california/.

 

First Time #Entrepreneur #Workshop this Saturday (4/29/17)!

Our spring First Time Entrepreneur workshop
is coming up this Saturday, April 29th!


 

At this workshop you will learn how to:

  • Determine the value of your company
  • Put together a capitalization table
  • Understand how Venture Capitalists screen potential investments
  • Understand the differences between trademarks, copyrights and patents and when you need each of them
  • Work with co-founders
  • Network at startup events — the right way

For more information and to sign up, visit: First Time Entrepreneur Workshop.

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Spring 2017 #workshops for #entrepreneurs and business owners

We have 2 workshops coming up this spring for entrepreneurs and business owners.

On Saturday, April 29th, we have the First Time Entrepreneurs workshop.

At this workshop you will learn how to:

  • Determine the value of your company
  • Put together a capitalization table
  • Understand how Venture Capitalists screen potential investments
  • Understand the differences between trademarks, copyrights and patents and when you need each of them
  • Work with co-founders
  • Network at startup events — the right way

For more information and to sign up, visit: First Time Entrepreneur Workshop.


 

On Saturday May 13th, we have a mergers and acquisitions workshop on How to Successfully Sell Your Business.

This workshop breaks down the lessons that a business owner needs to learn to have a successful exit. Each portion of the workshop is geared toward explaining in simple terms what an entrepreneur needs to know about finding buyers and getting to a deal. The seminar will guide participants through challenging concepts like earnouts and indemnification in an easy-to-understand format.

For more information and to sign up, visit: Successfully Selling Your Business Workshop.

 

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