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Venture Deals Review Overview
February 21, 2018  |  By Vela Wood

Office Hours is a podcast hosted by Vela Wood startup attorneys Kevin Vela and Aaron Terwey covering general issues related to small businesses and startups. Venture Deals Review is a series of Office Hours episodes discussing the book Venture Deals: Be Smarter Than Your Lawyer … Read More

Make an Investment in Legal
February 19, 2018  |  By Kevin Vela

A question I often hear from startups when discussing initial legal work is, “How much will this cost?” This is the wrong question – most startups are looking at their legal expense the wrong way. They should be asking, “How … Read More

Preparing for Funding Ep1: Incorporation
February 19, 2018  |  By Vela Wood

In this episode, Kevin and Aaron discuss why your company’s legal matters, lifestyle businesses v. venture-backed businesses, whether you should form your entity as a corporation or LLC, implications of the new tax code, and the filing requirements for entity formation. Read More

Find Some Naysayers
February 9, 2018  |  By Kevin Vela

A common mistake that I see aspiring entrepreneurs make all too often is failing to find anyone who will challenge their idea. I addressed this in my review of Silicon Valley S3, Ep7. Affirmation from loved ones is often a … Read More

Pitch Decks Are The New Business Plan
February 6, 2018  |  By Kevin Vela

Back in the day, like, the early aughts, it was widely believed that you needed a 20 to 40-page business plan and 40-80 hours to create it. The business plan was a written record and forecast of your idea, replete … Read More

Your Idea Is Worth Nothing
February 1, 2018  |  By Kevin Vela

“I’ve got this great idea…” How many times have you heard that? For me, it’s weekly, if not daily. But no one makes money on an idea. As a founder, you have to realize that ideas are easy, they are … Read More

What’s The Difference Between A Small Business And A Startup?
January 22, 2018  |  By Kevin Vela

What’s the difference between a small business and a startup? Structurally – a lot. Operationally – not much. And I’ll explore that throughout this series. To me, startups are a subset of small businesses. They are both initially owned by … Read More

If I Were Starting A Business…
January 22, 2018  |  By Kevin Vela

There has never been a better time to start a business. The power of the internet coupled with plummeting startup costs (and if you’re in the US – advantageous tax regulations) creates the perfect backdrop for anyone looking to start … Read More

VDR Ch. 16: Legal Things Every Entrepreneur Should Know
November 22, 2017  |  By Vela Wood

In this episode, we discuss wage claims, entity types, accredited v. non-accredited investors, 83(b) elections, and 409A valuations. Read More

Three Things with Shaz Amin
November 14, 2017  |  By Vela Wood

In this episode, Kevin and Aaron interview Shaz Amin, the founder of Blue Track Media and Plugged Inc., about his three things. They discuss the mental toll it takes and the loneliness that comes with being an entrepreneur, the importance of having a technical co-founder, developing a vision beyond making money, and the value of mentorship. Read More

VDR Ch. 15: Why Do Term Sheets Even Exist?
November 10, 2017  |  By Vela Wood

In this episode, we discuss what the term sheet negotiation process establishes, as well as transaction costs and reputation constraints.  Read More

VDR Ch. 14, Part 2: Letters of Intent
November 1, 2017  |  By Vela Wood

In this episode, we discuss when to ask for a breakup fee, conditions precedent, and extended no-shop periods.  Read More

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