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Understanding Basic Contracts: The Termination Clause
July 10, 2018  |  By Kevin Vela

A client of mine called me last week to express her frustration with a vendor. The vendor wasn’t turning around the work in a timely fashion, and this was severely impacting her business. She wanted out of the contract. My … Read More

Pricing Stock Options
June 26, 2018  |  By Kevin Vela

As I wrote last time, equity is currency for startups. As you launch your startup, you’ll likely be granting some equity to service providers throughout the life of your company. Now, it’s critical to understand that anytime you grant equity, … Read More

Grant Your Equity Wisely
June 8, 2018  |  By Kevin Vela

Which conversation would you rather have? “So…that 10% equity we gave you last year – yeah, I’m gonna need half of that back,” or “Thanks so much for everything you’ve been doing for the company; here’s another 3% equity!” As … Read More

The Three Levels of Control Within an Organization
May 29, 2018  |  By Kevin Vela

A common misconception in any startup is thinking ownership percentage equates directly with control. While it’s true that the majority equity holder(s) usually controls the business, this isn’t necessarily always the case. Let’s break it down. Day-to-Day Operations Day-to-day operations … Read More

Silicon Valley Review S5, Ep8: Hockey Stick Growth, Board Control & Fiduciary Growth
May 21, 2018  |  By Vela Wood

In this episode, we review S5, Ep8: Fifty-One Percent and discuss hockey stick growth, giving up board control, and fiduciary duty. Read More

The Repeal of PASPA
May 17, 2018  |  By Kevin Vela

On Monday the Supreme Court struck down the Professional and Amateur Sports Protection Act of 1992 (“PASPA”), the federal ban on sports betting. In a 6-3 ruling, SCOTUS held that PASPA unconstitutionally commandeers state legislatures by dictating what they “may … Read More

Preparing for Funding Overview
May 9, 2018  |  By Vela Wood

Office Hours is a podcast hosted by Vela Wood venture attorneys Kevin Vela and Aaron Terwey covering general issues related to small businesses and startups. Preparing For Funding is a series of Office Hours episodes about getting your company’s legal house in order before taking … Read More

Silicon Valley Review S5, Ep7: VCs vs. ICOs & Enforcing Contracts
May 8, 2018  |  By Vela Wood

In this episode, we review S5, Ep7: Initial Coin Offering and discuss ICOs, valuation milestones, harvesting user data, giving up board control, and enforcing contracts. Read More

Silicon Valley Review S5, Ep6: Cease & Desist Letters, Utility Tokens & Series B Term Sheets
May 8, 2018  |  By Vela Wood

In this episode, we review S5, Ep6: Artificial Emotional Intelligence and discuss cease and desist letters, transferring utility tokens, Series B term sheets, and China’s work culture.  Read More

Dilution Done Well
May 1, 2018  |  By Kevin Vela

The word dilution may sound scary to the uninitiated, but it shouldn’t. In fact, dilution is a good thing when done appropriately. The adage is that you’re better off owning a little piece of something worth a lot then owning … Read More

Silicon Valley Review S5, Ep5: AI Romances, Glass Walls & #MeToo
April 26, 2018  |  By Vela Wood

In this episode, we review S5, Ep5: Facial Recognition and discuss how much funds typically invest in each company, what constitutes a competitor, and how the show chose to address the #MeToo movement.  Read More

Why You Should Be Anti Anti-Dilution
April 25, 2018  |  By Kevin Vela

A client, who had already raised some money and thus had a few people on his cap table, came in recently with a term sheet whereby the prospective investor had requested “anti-dilution” protection. If you’re not familiar with anti-dilution, it … Read More

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