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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: Julian Constain (Fordham Law ‘20) interviews Ana Demel, Vice-chair and Secretary of the Board of Directors of Pro Mujer, Inc. about the origins of this social enterprise, its history and current mission, and the legal matters that can arise out of such a unique corporate structure.
Episode Roadmap: [:30] Julian Constain introduces himself and Ana Demel, who shares the origin and mission of Pro Mujer as well as a snapshot of the successful organization, which helps poor women in Latin America. [7:03] An overview of the three-pronged empowerment mission of the company, including financial services, health, and training. [10:30] The complexities and strategic points of operating in six different countries throughout North and South America, and what it means to be a social enterprise. [14:25] The benefits of claiming 501(c)(3) federal tax exempt status and the ways in which profits of for-profit subsidiaries can be invested into the mission of a tax exempt organization. [21:37] Responding to regulatory changes and planning for the future with corporate restructuring, in order to maximize the organization’s mission. [23:13] Legal challenges that companies might face when meeting corporate governance regulations in the international finance and health sectors. [28:07] Examples of balancing Pro Mujer’s company vision while also complying with corporate governance. [34:25] The process of introducing Pro Mujer’s services into new countries and the challenge of moving capital from country to country. [40:16] A look at what’s next as Pro Mujer works to fulfill its mantra of empowering women in Latin America. Tweetables: “I realized that every improvement in how the organization was run meant an improvement in the way it could serve these women in Latin America.” — Ana Demel “Microfinance involves lending micro amounts, primarily to women, to help them in their businesses….You help them help themselves.” — Ana Demel “Three years ago we took a really hard look at what we were doing as an organization, and we came up with a strategic plan that envisions Pro Mujer as a platform for many different services.” — Ana Demel “We want to impact more women in a more impactful way, and it’s not just a matter of growing the number of our financial services clients. It’s knowing that we’re growing what we’re doing for all these clients.” — Ana Demel “The key to being tax-exempt is that all the work we do is for the purpose of furthering our charitable mission, which is to help women in Latin America.” — Ana Demel Mentioned in This Episode: Pro Mujer Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”) is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: Moyosola Soyemi (Fordham Law ‘20) and Eileen Gaffney (Fordham Law ‘20) interview Selin Sonmez, co-founder of Knock Knock City, Co., about the business process from startup to exit, including the various legal and business issues entrepreneurs should consider on their road to acquisition.
Episode Roadmap: [:30] Moyosola Soyemi and Eileen Gaffney introduce themselves and Selin Sonmez, co-founder of the recently acquired Knock Knock City, who shares the inspiration for her startup and her studies in industrial design. [8:45] Is it necessary to have an exit strategy when founding a company? The benefits of choosing a corporation over an LLC. [11:39] Selin shares the online resources she utilized to find answers to legal questions and the point at which she began consulting with a lawyer instead. [16:37] Tips for building a brand while protecting intellectual property rights, and financing without fundraising through maximizing SEO and partnerships. [20:47] Questions to ask yourself before proceeding with a buy-out, including how to determine if the buy-out company is one that you want to partner with. [27:28] Legal and logistical challenges of partnering internationally. [29:02] Negotiating deal terms, both independently and with the guidance of lawyers. [33:07] How to obtain accurate valuation of your company when selling. [37:37] A look at signing day and what life looks like for Selin after the acquisition. [41:35] The value of engaging in design thinking when looking for new business ideas. [44:44] Selin shares advice from the lessons she learned on the path from startup to exit. Tweetables: “An exit strategy was always only in the back of our minds. Our focus was on growing.” — Selin Sonmez “Ask yourself, if we sell, is this the right person? Does this deal match our vision?” — Selin Sonmez “It’s always good to consider lawyers as business people too, who will be helping you and pointing out details you’ll be missing because you’re optimistic and want to be fast and get the deal done.” — Selin Sonmez “There’s always someone who has been there, done that, and there is value in seeking advice from them.” — Selin Sonmez “The right brain is a muscle. The more you practice it the more it evolves. So, there’s no such thing as not being creative; you can learn to be.” — Selin Sonmez Mentioned in This Episode: Knock Knock City Luggage Hero Investopedia Clerky Angel: How to Invest in Technology Startups- Timeless Advice from an Angel Investor Who Turned $100,000 into $1,000,000 by Jason Calacanis Voyager HQ Design the Life You Love: A Step-by-Step Guide to Building a Meaningful Future by Ayse Birsel Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”) is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented, and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: Tommine McCarthy (Fordham Law ‘20) and Shirley Ureña (Fordham Law ‘20) interview Hannah Taylor, Partner at Frankfurt Kurnit Klein & Selz, about social media influencer agreements in which a brand enters into a contract with an influencer to create content that promotes a brand on social media. The discussion includes details about exclusivity, termination, specificity, and ownership of influencer content.
Episode Roadmap: [:30] Tommine McCarthy (Fordham Law ‘20) and Shirley Ureña (Fordham Law ‘20) define social media influencer agreements and welcome Hannah Taylor. [2:52] Understanding the advantages and disadvantages of utilizing social media influencers. [6:55] Does the liability for non-compliance lie with the brand owner or the influencer? [8:53] Understanding the level of influence and substantiation the brand is allowed to have on the influencer's opinion of a product or experience. [12:13] An overview of the scope of work and content provided by the influencer, including approval rights, visibility, and ownership. [17:25] Is it typical for a brand to ask for influencer exclusivity, and how does non-compete law factor into this? [19:15] Contests, sweepstakes and promotion law factors for influencers. [23:18] Common compensation structures for paid posts and the benefits of being a micro-influencer. [26:02] Highly negotiated terms in an influencer contract include exclusivity, termination, morals, and money. [29:20] Common mistakes brands make when entering into influencer agreements such as not including specific content and monitoring policy requirements. [32:15] Recommendations for new entrepreneurs’ monitoring programs and why specificity always wins. Tweetables: “The FTC can go after whomever they want to go after. It’s the FTC’s job to make sure that consumers are not deceived.” — Hannah Taylor “Some guidance from a brand about what a product does and appropriate ways to speak about the product is always a good idea.” — Hannah Taylor “The main advertising rules from the FTC are don’t lie and don’t be unfair. Pretty simple, but the ways in which they think things are deceptive, lying, or unfair are pretty nuanced, depending on the way people communicate.” — Hannah Taylor “It’s not only money that can constitute a material connection between a company and an influencer. It’s anything of value or anything that could bias somebody….including free products.” — Hannah Taylor Mentioned in This Episode: Hannah Taylor Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”) is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented, and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing, and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: Nicole Gunara (Fordham Law ‘19) and Ashley Meadows (Fordham Law ‘20) interview Neil A. Weinrib, Managing Director at Neil A. Weinrib & Associates, about immigration law considerations for entrepreneurs, including the ability of foreign nationals to develop a business in the U.S., factors in employing foreign individuals, and options for raising capital through foreign investment incentive programs.
Episode Roadmap: [:30] Nicole Gunara and Ashley Meadows introduce the topic of immigration law and welcome Neil A. Weinrib, who emphasizes the need for entrepreneurs to understand immigration law. [3:10] Considerations for startups if a founding member is a foreign student, including the types of visas foreign students must maintain while in the U.S. [7:15] Assessments foreign students need to make after graduation when forming a startup while on OPT status or an H-1 visa. [13:10] Three standards that must be met to qualify for an O-1 visa and general application timelines. [18:32] Standards of the EB-1 visa and the status you will obtain from it, and whether it can lead to a green card. [21:52] The steps a foreign entrepreneur should take to determine if they qualify for a visa and the best place to seek advice for sponsorship. [27:11] Application expenses and legal fees that a foreign student can expect to spend on meeting visa requirements. [33:16] Foreign investors can utilize visa programs to fund projects in the U.S. with the use of EB-5 visas and targeted employment areas, if they meet hiring requirements. [42:12] Details of the E-2 investment visa program and where to find current and accurate information regarding the qualified countries list. [48:42] Main points for companies when considering hiring foreign nationals and information to request from potential employees. [53:25] Neil shares the path that led him to practicing immigration law and advice for law students who are considering the field. Tweetables: “Foreign students need to be very careful about who they partner with. If there is a falling out, someone could try to create a problem for them.” — Neil A. Weinrib “For H-1B visas, the U.S. immigration service hasn’t been receptive to entrepreneurial endeavors.” — Neil A. Weinrib “Most foreign students are aware that it’s becoming increasingly more challenging to get an O-1 visa.” — Neil A. Weinrib “Foreign nationals completing their education often find themselves in a race because they are aware of what the immigration options are and are rushing to satisfy one of the existing categories.” — Neil A. Weinrib “The biggest challenge for foreign nationals who want to use the EB-5 mechanism is the hiring requirement. They have to hire 10 U.S. workers within roughly 3 years.” — Neil A. Weinrib “A lot of people look to Google for immigration answers, and what they don’t always realize is that much of the data on the internet is stale or it’s been overruled or amended or changed.” — Neil A. Weinrib Mentioned in This Episode: Neil A. Weinrib & Associates Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”) is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented, and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
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Chloe Curtis (Fordham Law ‘19) and Daniel Salomon (Fordham Law ‘19) interview Gary R. Schall, Partner at WilmerHale, about fundraising tips for startup companies and specific tools for nailing a pitch to investors.
Episode Roadmap: [:30] Chloe Curtis and Daniel Salomon introduce themselves and Gary R. Schall, Partner at WilmerHale. They define equity financing and highlight characteristics investors are looking for when considering an investment. [3:13] ‘How does company type influence the ability to secure funding?’ and other questions startups need to answer before seeking funding. [7:40] Pros and cons of asking friends and family for initial funding. [12:03] The importance of obtaining legal advice to evaluate securities law issues, at the federal as well as state level. [13:29] An overview of angel investors — an ideal source of funding. [16:58] Understanding the value — beyond money — that sophisticated investors can bring to the board. [21:57] Equity crowdfunding as an option for raising capital, legal obligations, and funding limits that companies need to comply with when crowdfunding. [29:48] Tips for approaching traditional venture capital firms and the first message you need to convey to them. [34:33] Particular recommendations for female and minority entrepreneurs [36:17] Recommendations for nailing the perfect pitch starts with stating the problem your company will solve and why they should care about it. [42:51] How many investors should you plan on pitching to before securing any funding? And what is the ideal timeline for making a pitch? [46:45] How to negotiate the amount of equity provided to investors. [50:15] The essentials checklist for the perfect pitch, and Gary’s top tips for maximizing your time with the investor. [53:58] Advice for maintaining positive relationships with investors over time. Tweetables: “There is a lot of homework you need to do before you even think about raising money.” — Gary R. Schall “For every security that gets issued in the United States, one of three things happens — it’s exempt under the securities laws, it’s registered with the SEC, or it’s illegal. We don’t like being in the last category; we typically like being in the first — it’s exempt.” — Gary R. Schall
“There’s an expression ‘smart money and dumb money’. Sophisticated investors are considered smart money because they bring more than just a check.” — Gary R. Schall
“Being informed about what you’re getting into is very important with equity crowdfunding.” — Gary R. Schall “A good investor is going to test you….and you’d better know the answers. You’d better be prepared.” — Gary R. Schall Mentioned in This Episode: Startup LAWnchpad Season 1, Episode 12: Seed Financing Upfront Ventures X2 Ventures Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”) is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: William de Wolff (Fordham Law ‘20) and Kei Komuro (Fordham Law ‘21) interview Robert B. Nolan, Jr. (Fordham Law ’77), Managing Partner at Halyard Capital about various stages of capital raising including seed capital, venture capital, and private equity; how to attract investors; and how to raise money for your business.
Episode Roadmap: [:30] William de Wolff and Kei Komuro introduce themselves and Robert B. Nolan, Jr, who shares the beneficial role that legal training played into his transition from law to private equity. [5:06] The spectrum of funding within the world of seed capital, venture capital, and private equity, and key characteristics of each stage. [11:04] At what stage do investors want to see a profit from their investments? [12:35] The importance of receiving operational expertise and guidance, in addition to financing. [14:50] Common concerns of investors regarding practical, legal, market changes, and management issues, and how investors evaluate the profitability of a startup. [20:10] Advice regarding the concerns of entrepreneurs seeking capital through private equity. [27:14] Why investors need to be kept well informed by struggling entrepreneurs. [29:34] The value of social innovation and positive environmental, social, and governance (ESG) factors in the investment world. [38:42] Options beyond certified B corps or benefit corporations that companies can take advantage of to incorporate a social mission. [42:18] A look at the future of capital funding supporting social initiatives. [44:54] Mr. Nolan’s recommendations for entrepreneurs who are attempting to become investors or to get access to pools of capital, and the importance of intellectual property in attracting investors. Tweetables: “Seek more than capital when talking to investors — seek those with expertise who can help you penetrate or disrupt a marketplace.” — Robert B. Nolan, Jr. “Always remember the first and foremost rule with a venture capital or private equity professional is that they believe management can deliver its promise…. It’s usually based on an entrepreneur’s vision and their perception of how they will make a difference in the marketplace.” — Robert B. Nolan, Jr. “Investors don’t expect you to be profitable from day one, but you do need to ultimately figure out a path to profitability.” — Robert B. Nolan, Jr. “The best thing an entrepreneur can do for its investors is to be transparent. Be open with information and tell them in advance if you see a problem coming.” — Robert B. Nolan, Jr. “The opportunity to have a dream developed and nurtured is the greatest reward one can have in the business world.” — Robert B. Nolan, Jr. “One of the most attractive elements for an investor is the potential — let alone the realization — of intellectual property that is derived from the business idea being touted by the individual entrepreneur.” — Robert B. Nolan, Jr. Mentioned in This Episode: Halyard Capital Connecticut Innovations Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”) is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: Elizabeth Ostaszewski (Fordham Law ‘19) and Christie Yeh (Fordham Law ‘19) interview Seth Helfgott (Fordham Law ‘09), Partner at Wilson Sonsini in San Francisco, to discuss convertible notes — the most common way to raise modest amounts of capital from venture capital firms at the seed stage.
Episode Roadmap: [:30] Elizabeth Ostaszewski and Christie Yeh introduce themselves and their guest Seth Helfgott and offer an overview of venture capital financing and convertible notes. [7:20] What terms should a borrower look for and what details should they focus on when obtaining a convertible note? [11:23] Convertible note negotiations and the role of the valuation cap. [17:10] Discount rates and their ideal percentages. [19:23] How exactly do convertible notes convert? An overview of the three most common mechanisms for conversion. [21:39] General terms that are considered non-negotiable by venture capitalists and the provisions that startups need to fight for. [27:09] Who controls amendments to convertible notes? [28:49] Understanding West Coast vs. East Coast convertible note negotiations and the new SAFE agreement. [30:59] Seth’s career advice for both entrepreneurs and lawyers. Tweetables: “Companies don’t need to focus too much on building out a financial model at this point — most venture capitalists recognize it’s really just guessing at this early stage.” — Seth Helfgott “You need to think about the size of the round that you are raising now and the size of the round you expect to raise before these notes convert.” — Seth Helfgott “Historically East Coast is more investor friendly and West Coast tends to be more company favorable.” —Seth Helfgott “Value your time — don’t do it for free — but there are plenty of pro-bono opportunities to get involved in.” — Seth Helfgott Mentioned in This Episode: Startup LAWnchpad Season 1, Episode 12: Seed Financing Y Combinator Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”) is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented, and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: David Adler (Fordham Law ‘19) and James Fitzpatrick (Fordham Law ‘20) interview Chieh Huang (Fordham Law ‘08), CEO and Co-Founder of Boxed, an online wholesale retailer, to discuss the legal and practical challenges of pursuing entrepreneurial endeavors.
Episode Roadmap: [:30] David Adler introduces himself, James Fitzpatrick, and Chieh Huang, CEO of Boxed. [1:37] The personal and professional reasons Chieh attended law school and the impact his legal training has had on his company’s success. [5:12] Chieh describes his journey from practicing attorney to prosperous entrepreneur. [12:26] Advice for lawyers who are interested in pursuing entrepreneurial endeavors. [15:17] Legal challenges and advice for a startup company that does it all. [19:21] Understanding employee benefits from one of the most generous companies in the world. [22:14] Two tips for mastering the “jerk test” and the most effective way to make a positive social impact. [27:30] Raising funding and the right time to quit your full-time job. Tweetables: “My legal degree allowed me to understand the basic rules of the business game.” — Chieh Huang “Being an attorney has prepared me for a lot of what happens at Boxed. Not a lot scares me because I know what the truly serious legal issues are.” — Chieh Huang “Doing the right thing and doing good can be the right business decision too.” — Chieh Huang “You can’t do everything, but do the things that actually affect you, your employees and your customers.” — Chieh Huang Mentioned in This Episode: Boxed Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”), is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing, and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: Nevin Chetry (Fordham Law ‘19) interviews Rob Sanchez (Fordham Law ‘14), CEO of MouthMedia Network and Lois Herzeca, COO of MouthMedia Network to discuss the path and risks founders take to start a company.
Episode Roadmap:
● [:31] Introducing Nevin Chentry, Rob Sanchez, Lois Herzeca and MouthMedia Network. ● [3:30] Transitioning legal skills from corporate law to the startup culture. ● [6:05] Recognizing when legal work should be delegated. ● [9:02] Rob’s decision to attend law school without intending to become a lawyer. ● [12:27] Questions entrepreneurs need to ask themselves when raising venture capital. ● [14:13] What venture capital investors are looking for in startups. ● [20:15] Balancing your vision for your startup with best business decisions. ● [26:22] Lois’s transition from corporate law to a startup. ● [29:42] Evaluating risk when considering a startup. ● [34:40] Rob and Lois’s advice for their younger entrepreneurial selves. Tweetables: ● “We always have to keep in mind the big picture, and what the steps are to get us there.” — Lois Herzeca ● “I can learn almost anything from an MBA program from a book, but the legal degree is a retraining of the way you think about the world.” — Rob Sanchez ● “Most people don’t spend enough time thinking about what they really want when it comes to raising money.” — Rob Sanchez ● “You have to understand who you are as a company, and who the right investors are for you.” — Lois Herzeca ● “Having a very strong vision is important, but so is knowing that you don’t know what you’re doing.” — Rob Sanchez Mentioned in This Episode: ● MouthMedia Network ● Rob Sanchez ● Lois Herzeca Additional Resources: ● Fordham’s Entrepreneurial Law Clinic ● Follow us on Twitter @FordhamELC Sponsors: ● Nasdaq Educational Foundation ● Fordham’s Entrepreneurial Law Advisory Council Disclaimer: The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”), is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented, and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice. -
Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing, and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: Bernice Grant, Senior Director of the Entrepreneurial Law Program at Fordham University School of Law joins with Professor Dana Brakman Reiser, Professor of Law at Brooklyn Law School, Visiting Professor of Law at Fordham School of Law and author of Social Enterprise Law: Trust, Public Benefit, and Capital Markets, to discuss social enterprise law.
Episode Roadmap: [:30] Bernice Grant welcomes Professor Reiser and introduces her new book. [4:47] The legal difference between for-profit and non-profit companies. [6:53] An overview of a benefit corporation and the responsibilities of their directors. [13:14] Well known benefit corporations and what they all have in common. [14:39] Adopting hybrid form business models and prioritizing the mission-protected hybrid business model. [20:23] Advantages of using a for-profit LLC business model for philanthropic efforts. [26:25] Impact investing and how it is closing the gap to capital for social benefit entrepreneurs. [29:05] Defining the differences between benefit corporations and obtaining certification from B Labs. [31:30] Nurturing an entrepreneurial spirit and great book recommendations. Tweetables: “My research focuses on any place where the boundary is blurred between charity and business, non-profit and for-profit activity.” —Dana Brakman Reiser “Entrepreneurs who are seeking to develop a business that has a social mission have a lot of choices.” —Dana Brakman Reiser “We argue that to differentiate from any for-profit entity, a specialized form would have to require prioritization of the social mission.” —Dana Brakman Reiser “Lawyers are not there to kill your dreams. Lawyers are there to make your dreams happen.” —Dana Brakman Reiser Mentioned in This Episode: Dana Brakman Reiser Social Enterprise Law: Trust, Public Benefit, and Capital Markets by Dana Brakman Reiser and Steven A. Dean Just Giving: Why Philanthropy is Failing Democracy and How It Can Do Better by Rob Reich Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”), is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented, and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing, and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: Evan Lin (Fordham Law ‘19) and Zhujing Wu (Fordham Law ‘19) interview Tom Brunner, Partner at LeapFrog Investments, to discuss impact investing, its legal concerns and how entrepreneurs can prepare to address these concerns.
Episode Roadmap: [:30] Evan Lin and Zhujing Wu introduce themselves and define impact investing. [5:14] Tom Brunner introduces himself and offers an overview of LeapFrog Investments. [8:01] Examining the commercial-philanthropic impact investing scale and the double bottom line. [10:34] Meeting fiduciary obligations and diversification considerations. [15:49] Metrics used by LeapFrog to measure social impact, and differences between the healthcare delivery and financial service spaces. [19:51] Three elements of any entrepreneurial endeavor that impact investors look for before investing. [24:06] The importance of internal governance in your proposed business, including integrity, transparency, and guards against self dealing. [27:18] How students and entrepreneurs can prepare to compete for limited positions with impact investing. [32:33] Looking to the future of impact investing. [35:00] Tom reviews five key takeaways for entrepreneurs looking to enter the impact investing space. Tweetables: “Social benefit needs to be an affirmative aspect of the business model.” — Tom Brunner “If you’re able to make a case for your business that market investors will find attractive… that opens up a larger pool for potential investments.” — Tom Brunner “People who go into this field will do very well both in terms of financial reward and professional satisfaction.” — Tom Brunner “Impact investing is a critical element of the global approach to solving problems of poverty and other social imperatives.” — Tom Brunner Mentioned in This Episode: Tom Brunner LeapFrog Investments Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”), is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented, and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing, and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: Joe Slochowsky (Fordham Law ‘19) and Philipp Kirschbaum (Fordham Law ‘19) interview James Shea (Fordham Law ‘09), formerly Special Counsel at Sullivan & Cromwell LLP and now Of Counsel at Paul Hastings LLP. They discuss the five surprises that often come on the road to the IPO.
Episode Roadmap: [:30] Joe Slochowsky and Philipp Kirschbaum introduce themselves and define the IPO. [3:43] An overview of the IPO process. [9:27] James Shea discusses the five biggest surprises on the road to IPO, starting with systems and personnel. [11:08] Reasonable timelines for putting systems in place. [14:03] Contractual obligations that will come with the IPO. [16:10] Tag-along and drag-along rights and roadshow requirements for management. [19:05] Considerations for dual class voting. [23:53] Understanding the role and relationship of the underwriter. [28:24] Selecting an underwriter during a ‘bake-off’ and sizing a board of directors. Tweetables: “IPOs are as big as they’ve ever been. 2019 is projected to raise record-breaking dollars.” — Philipp Kirschbaum “It’s really important that you have both the people and the systems in place.” — James Shea “An IPO is incredibly time consuming for a company, and it takes a lot of energy and attention by the management.” — James Shea “It’s in everyone’s best interest that there’s the right amount of cooperation and attention given to roadshow activities.” — James Shea Mentioned in This Episode: James Shea Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”), is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented, and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing, and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: Julia Báez Valentín (Fordham Law ‘19) and Soo Young Hong (Fordham Law ‘19) interview Chuck Pettid (Fordham Gabelli School of Business, MBA, Finance ‘06) on the crowdfunding platform Republic to discuss equity and crypto crowdfunding. They examine the safety, viability, and future of this relatively new approach to funding for startup companies.
Episode Roadmap: [:30] Julia Báez Valentín and Soo Young Hong introduce themselves and give an overview of crowdfunding and related securities law regulations. [3:43] Chuck Pettid introduces himself and his work with Republic and crowdfunding. [7:11] Is crowdfunding a viable way to finance your business? [8:59] A look at Crowd SAFE and Republic’s involvement in cryptocurrencies. [13:07] Confronting and mitigating investor risks associated with issuing tokens. [15:34] Republic’s commitment to diversity and serving underserved founders. [18:33] All about Meet The Drapers. [22:51] The value of providing feedback to rejected founders. [25:08] Additional television productions in the works. [30:16] Considering the future of crowdfunding. Tweetables: “The most important thing to note is that [with equity crowdfunding versus donation crowdfunding] the companies have to comply with federal securities regulations.” — Soo Young Hong “[Regulation Crowdfunding] enables companies to raise funds they previously lacked access to, and those funds are coming from everyday people that now have the ability to invest in startups.” — Julia Báez Valentín “[Crowdfunding] should be a tool in every startup’s toolkit.” — Chuck Pettid “It’s been our theme at Republic from the beginning – founders always need to put their best foot forward.” — Chuck Pettid “Take crowdfunding seriously. It’s going to be around for a long time.” — Chuck Pettid Mentioned in This Episode: Republic Crowd SAFE Meet The Drapers Live From Tomorrow Crazy Today Obvious Tomorrow Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”) is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented, and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing, and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: Adam Mengler (Fordham Law ‘19) interviews Chris Mitchell (Fordham Law ‘00), General Counsel of Kickstarter—a Public Benefit Corporation and Certified B Corporation—to discuss the benefits and challenges that come with forming a benefit corporation.
Episode Roadmap: [:30] Adam Mengler introduces himself and Chris Mitchell, General Counsel of Kickstarter. [2:30] Chris Mitchell explains what a benefit corporation is and the associated legal obligations. [4:17] The benefits of transitioning to a benefit corporation. [5:41] Balancing charter goals with a company’s financial interests. [9:52] Challenges that benefit corporations face when raising money. [10:40] Considerations for companies before becoming a benefit corporation. [13:34] The effects of being a benefit corporation on the company’s attorneys. [14:47] Nurturing an entrepreneurial spirit and Chris Mitchell’s favorite books. Tweetables: “The PBC form formalizes several long-standing Kickstarter beliefs and priorities.” — Chris Mitchell “I’m always referencing back to the charter; making sure that all of our commitments are being fulfilled, not just the profit maximization ones.” — Chris Mitchell “[Becoming a PBC] is not quite as daunting as people may realize, and I think it’s incredibly beneficial.” — Chris Mitchell Mentioned in This Episode: Chris Mitchell Kickstarter Kafka on the Shore by Haruki Murakami The Good Life Lab- Radical Experiments in Hands-On Living by Wendy Jehanara Tremayne Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”) is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented, and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing, and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: Oluwayemisi (“Yemi”) Danmola (Fordham Law ‘19) and Diana Ryzhova (Fordham Law ‘19) interview Ramona Ortega (Fordham Law ‘13), Founder and CEO of Mi Dinero Mi Futuro (My Money My Future Inc.), a fintech company for multicultural millennials, to discuss access to capital for female and minority entrepreneurs.
Episode Roadmap: [:15] Bernice Grant introduces Season 2 of Startup LAWnchpad. [2:06] Diana Ryzhova and Yemi Danmola introduce themselves and the topic of access to capital for female and minority entrepreneurs. [4:10] Ramona Ortega introduces herself and her current business venture. [10:43] The steps required on the long road to starting up a new company. [17:50] ‘Financial literacy’ — its perception and problems, and what Ramona’s company focuses on instead. [20:20] Resources to help entrepreneurs understand financial law. [24:16] The current access to capital environment for females and minorities. [35:35] Ramona’s reflections on participation in female-led venture capital endeavours. [42:43] Is this the career that Ramona dreamed of in her childhood? Tweetables: “Any entrepreneur should be asking themselves — what is the problem that you’re solving, and why are you the person to solve it?” — Ramona Ortega “We empower people to make smarter financial decisions by giving them the information and the tools they need.” — Ramona Ortega “This is not about us telling people what to do; it’s about empowering people to understand how money works.” — Ramona Ortega “Humility, being able to start over, taking great risks — that’s what great entrepreneurs do.” — Ramona Ortega Mentioned in This Episode: Ramona Ortega Mi Dinero Mi Futuro Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”), is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented, and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing, and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description: Kevin Chan (Fordham Law ‘18) offers an overview of various legal and business considerations for entrepreneurs and new business owners who are looking for office space, including the legal differences between lease and license agreements, the advantages and disadvantages of each, and a walk-through of the process for each of these options.
Episode Roadmap: [:30] Kevin Chan introduces himself, and offers an overview of office space considerations for entrepreneurs and new business owners. [4:23] A look at lease vs. license characteristics — see chart below. [6:39] Weighing lease vs. license advantages and disadvantages — see chart below. [10:15] The hypothetical cost of securing office space in Manhattan with a lease, and with a license agreement. [13:02] Practical considerations for both lease and license arrangements. [15:52] Breaking down the multiple components of monthly rent fees. [17:30] Requirements for subleasing a space, and alterations. [20:04] The benefits of understanding the differences between lease and licence agreements prior to securing either. Tweetables: “In many cases the license provided through shared work spaces is a more cost-effective way to obtain office space. ” — Kevin Chan “If you’re in the early stages of your business and are not ready to shoulder the high cost of a lease, a shared work space makes the most sense.” — Kevin Chan “Make sure you think about your short-term and long-term business objectives.” — Kevin Chan Mentioned in This Episode: We Work The Yard Additional Resources: Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors: Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory CouncilDisclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”), is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented, and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
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Kevin Chan (Fordham Law ‘18) interviews Scott Scuderi (Fordham Law ‘16), Founder and CEO of Scuderi Capital, LLC. Their discussion examines the relationship between real estate and law for entrepreneurs, tools for evaluating the real estate market, the impact of tax reform, considerations for various kinds of investments, and more.
Episode Roadmap:
● [:30] Chan introduce himself as a Fordham Law student under the supervision of Professor Bernice Grant, his topic of entrepreneurship and real estate, and guest Scott Scuderi.
● [4:19] An overview of Scuderi’s business and the link between real estate and law school.
● [10:16] Advice for entrepreneurs that want to incorporate real estate into their business.
● [15:37] Keys to success in the real estate business fundraising process.
● [18:12] Tools and key metrics for evaluating your local real estate market.
● [23:46] Noteworthy differences between commercial and residential real estate and various strategies for real estate investments.
● [29:51] Considerations for short-term real estate investments.
● [32:21] The impact of tax reform, deductions for state property taxes and zoning laws.
● [39:50] Scuderi’s final advice for entrepreneurs.
● [44:52] Chan highlights the key takeaways of networking, due diligence, and key metrics.
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Jared Arcari (Fordham Law ‘19) offers an overview of privacy policies and some of the most common privacy laws that US-based businesses will encounter, as well as how to draft a privacy policy that will protect your business from lawsuits. Please note: this podcast was researched and prepared by Daphny Lazarus (Fordham Law ‘18) before the recent GDPR regulations were put in place, and therefore some of the information contained in this podcast may not be GDPR compliant.
Episode Roadmap:
● [:30] Jared Arcari introduces himself as a Fordham Law student under the direction of Professor Bernice Grant.
● [1:27] An overview of privacy policies, their importance and the risk of not having one.
● [5:29] CalOPPA requirements and how they affect businesses in every state.
● [7:53] Third-party requirements and notifications subject to the Shine the Light Law and COPPA.
● [11:05] Additional sources of federal and state privacy law liability.
● [12:12] The benefits of hiring an attorney to write a compliant privacy policy and key points to include in the policy.
● [14:16] Sources of privacy law that must be reflected in your privacy policy and assumptions that cannot be made about privacy policies.
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Fannie Law (Fordham Law ‘19) and Zachary Sherman (Fordham Law ‘19) join to discuss employment law and compensation and the various challenges entrepreneurs face while building up their company to become successful players in the industry, starting with the hiring of new employees.
Episode Roadmap:
● [:30] Fannie Law and Zachary Sherman introduce themselves as Fordham Law students under the direction of Professor Bernice Grant.
● [1:00] An overview of the hiring process and legal issues employers may face.
● [4:00] Considerations regarding employee compensation, including payroll issues, pay schedules, and minimum wage requirements.
● [7:00] Comparing exempt and non-exempt employees.
● [9:25] Can startup founders work for free? A look at the business owner exemption.
● [11:31] The key characteristics that classify workers as employees versus independent contractors.
● [16:22] The key characteristics required to classify workers as interns.
● [17:51] Details regarding employment relationships for at-will employees.
● [19:35] How a business owner establishes a formal relationship with an employee.
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Harrison Kay (Fordham Law ‘19), Edouard Wilhelm (Fordham Law ‘18), and Roberto Cortinas (Fordham Law ‘18) join to discuss start up financing, its key players, and various ways startups can raise money in the early stages, as well as ways to exit the fundraising process, typical financing methods, key terms to know prior to raising money, and tips for fundraising success. They also discuss insights from Lawrence G. Graev, President of GlenRock Capital Advisors, LLC and Adjunct Professor of Law at Fordham University School of Law.
Episode Roadmap:
● [:31] Kay, Wilhelm, and Cortinas introduce themselves as Fordham Law students under the supervision of Professor Bernice Grant.
● [2:36] A definition of startup financing, including money as well as associated benefits such as strategic and management expertise and network assistance.
● [5:04] Main ways that startups can encourage investors to invest in their business.
● [9:26] Examining the three rounds of the seed stage of financing.
● [13:01] Characteristics of outside investors, including angel investors, venture capital firms, and crowdfunding.
● [16:12] Financing instruments that entrepreneurs need to be familiar with.
● [17:44] Common challenges many entrepreneurs face when raising funds for their startup.
● [21:44] Details of the venture stage of financing, frequently seen scenarios, and common investor terms.
● [26:10] Various options for the exiting stage of financing.
● [28:02] Tips for entrepreneurs to strategically position themselves for success in seed financing.
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