During Stanford University’s Entrepreneurship week, entrepreneurs are offered a variety of classes, lectures, discussions and networking events, all in the name of the Entrepreneurial Spirit. “The Most Common Mistakes Startups Make From Legal Perspective” lecture was delivered by Attorney Timothy Harris, partner at Morrison Foerster. Mr. Harris covered many topics entrepreneurs tend not to pay attention to, try not to pay attention to or “forget” to pay attention to. I mean, who needs the headache of incorporation, stock paperwork, and the blood sucking lawyers who come with it? Let’s file stock paperwork at $0.001 per share, a day before receiving a fat check at $1 a share! Now that’s growth! Yeah… No. Unless you want to find out you have new friends at the Internal Revenue Services of America.
Harris goes on to cover more common mistakes such as Intellectual Properties, Employment (you know that “independent contractor” you got sitting on your sofa every day, has a FirstName@MyAwesomeStartup.com email address and is contracting only with your company) and fundraising. All very close to the heart of any startup I am familiar with in the Valley and outside of it.
This document as a guide any entrepreneur and/or a founder trying to navigate the complex and potentially problematic legal process in the right way. Or we can always wait and take care of things when we have 30MM users and Facebook throws a billion dollars at us to swim in. Right?
This year’s eweek was held from February 27 through March 7, and if you missed it you can find more information about speakers who attended and lectures that were held here. Most events were free and open to the public although some require a ticket or rsvp.
View the entire presentation at the original post on Startupgrind.