Startups Should I give away a 0.3% of my equity to defer $25,000 worth of legal fees for a year? |
- Should I give away a 0.3% of my equity to defer $25,000 worth of legal fees for a year?
- Starting A Startup From Scratch
- How to structure compensation for SaaS CRM startup
- Showing partners (e.g hotel) business permits in our site?
- Spruce up Landing Page | GIF of UI
- Best way to accept credit card payments as a Canadian startup?
- I am looking for startup suggestions. Any help is much appreciated.
| Should I give away a 0.3% of my equity to defer $25,000 worth of legal fees for a year? Posted: 02 Jan 2018 04:00 PM PST Howdy /r/startups, My partner and I are getting to the point in our development where we need to start producing agreements regarding privacy policy, terms & conditions, & other legal documentation. We reached out to several legal firms to help us with this and other "corporate cleanup" as they called it. This cleanup basically includes issuing founder stock, option plans, offer letters for advisors & employees, and other documents listed above. We used Stripe Atlas to register our company as a Delaware C-Corp & get necessary documentation like a Tax ID number. Given that our company Healthmates is in the evolving field of digital health, we want to build off a rock solid legal foundation. Nothing would piss me off more than building an awesome product only to have it shut down by a loophole we forgot to address or a lawsuit we left ourselves exposed to. Fenwick & West, a start-up & technology oriented firm based out of California, offered us a package whereby they deferred up to $25,000 worth of legal fees for up to a year or until we had raised a round of $500,000. If the start-up sinks or declares bankruptcy, then neither founder is held personally responsible for paying any amount of the deferred fees. This is incredibly tempting since, as a technology start-up, we have significant upfront costs associated with product development and would prefer to maximize our investment in that area. However, we don't just want to give away equity either; or be lured into signing on with this firm only to find out their rates are excessively high. On one hand, it seems like an obvious choice since we don't have $5,000 or $10,000 to spend on legal necessities. On the other, we don't want to be taken advantage of. So, /r/startups, what are your thoughts? Has anyone been in a similar situation? [link] [comments]  |
| Starting A Startup From Scratch Posted: 02 Jan 2018 03:51 PM PST Hey Everyone <3 ..
So Where to start and what to look for ? whats the good way to approach Sponsors or get funded ? how to get a healthy workground for all the team? what is the legal parts that you need to care about ? starting a company legally and run away from getting sued ? How to establish a startup that will get money back ? pay the bills and get new projects running ?
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| How to structure compensation for SaaS CRM startup Posted: 02 Jan 2018 10:14 AM PST Hi /r/startup community, I have a product (SaaS CRM) that I am beta testing with potential users at the moment. I would like to bring on a sales person to sell the system nationally after the testing is over. There is a seasoned sales guy who's been doing sales 10+ years for advertising agencies and, if I want to bring him on board, what would be a good compensation structure? Would I give him equity AND commission? Based on rough market sizing, the potential market would be $30m. Would 20% equity too much? I'd continue focusing on building & improving the product, and he'd be responsible for sales. However, I'd also help out with sales too. [link] [comments]  |
| Showing partners (e.g hotel) business permits in our site? Posted: 02 Jan 2018 09:27 PM PST We are building a website like Airbnb, but different target market, let's say "hotels" . We are still under NDA so, I can not say the specifics. So in our website we have a dynamic page for each "hotels", this page includes the details, location, etc. about the hotel. We are planning to add one more detail for the guests to see, which is the business permits (.jpeg) of the hotel so that the guests will know that it is a legitimate hotel. To avoid scams in short. My question is, is it safe? Will it cause any conflicts? [link] [comments]  |
| Spruce up Landing Page | GIF of UI Posted: 02 Jan 2018 01:52 PM PST Hi all, happy new year! We are trying to spruce up our app landing page with a GIF of the UI next to the download link. What is the best way to go about this? We figure it's best to record the screen using Quicktime, and then perhaps place that MP4 on an overlay of an iPhone. We only have access to Sketch, and am not quite sure of how to go about doing this. Does anyone have recommendations or hacks to do this? Perhaps a Sketch plugin? FYI we are using Squarespace as our landing page. Appreciate it [link] [comments]  |
| Best way to accept credit card payments as a Canadian startup? Posted: 02 Jan 2018 09:11 PM PST We landed a contract with a client in the states and because we can't fill out a W-9 form they asked if they could pay the deposit via credit card, and asked for a credit authorization form. We don't have one and I've emailed my bank (BMO) to ask. I briefly considered Paypal but I am mildly concerned because we haven't processed many payments with it for a while and am not sure if they'd freeze the funds (12k usd). Are there other services I should be looking at if I can't do it through my bank? [link] [comments]  |
| I am looking for startup suggestions. Any help is much appreciated. Posted: 02 Jan 2018 07:58 PM PST First time posting here. I recently inherited a sizable farm not far from a big city. I want to start a business in a small size commercial type building that is on the property. I currently live next to the building. Currently have zero debt with great credit at almost 40 yrs old. What can I do as a business so I can quit my 9 to 5 job. There is also a barn and another building on the property with heat and running water. Looking for a suggestions on any type of business. I currently have multiple trustworthy family members who are interested in assisting and who can work full time. We have spent the last 6 months getting the properties sorted out so we are ready to make the next step. We just need ideas. I can answer any questions about the property and the set up. Please let me know. Thanks in advance. Some of the things we have considered: Firearm and ammunition shop. Fishing tackle shop as we are close to fishing waters. Made to order T-shirts. Flipping antiques. Selling organically grown vegetables. Converting to a bar or beer garden. Selling bbg and sauces. Some of the ideas right above may be valid options but I wanted to get this communities consensus to see if anything sticks out and clicks with the setup we have. Again, thank you for any input!! [link] [comments]  |
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