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Preparing a VC-Backed Company for an Exit Event
Initial public offerings (IPOs) and M&A exits are the two most common means of achieving liquidity in a private company. This article addresses an acquisition transaction, which requires preparation and oversight that many founders and managers need to learn as they go. Although getting to an M&A exit event is by no means a guarantee, nor is it the desired path for every founder, there are several things that founders and the company management team can do to ensure that the M&A process goes smoothly.
In Split Vote, FTC Approves Controversial Final Rule Banning Most Post-Employment Non-Competes; Rule Already Subject to Challenge in Court
On April 23, 2024, by a 3-2 margin, the FTC voted to finalize its controversial non-compete rule, which, generally, will prohibit businesses from entering into non-compete agreements with nearly all workers across the U.S. going forward and invalidate the existing non-competes of nearly 30 million workers.
MintzTech Connect: All Things Technology — March 2024
We lead off this MintzTech Connect with a client alert on the Corporate Transparency Act (CTA). The second article is about 409A valuations — mastering the art and science in the volatile venture market. Additionally, we provide you with Mintz’s year in review of laws impacting employee non-competition, non-solicitation, and non-disclosure agreements. Lastly, we offer an overview of key action items start-up boards will want to consider on an annual basis.
New Jersey Adopts a Comprehensive Data Privacy Law
2023 was a record-breaking year, with legislators in Delaware, Indiana, Iowa, Montana, Oregon, Tennessee and Texas passing comprehensive data privacy laws, joining California, Colorado, Connecticut, Utah and Virginia. Already 2024 is on pace to beat 2023’s record year, as New Hampshire (New Hampshire Privacy Act, SB 255-FN), New Jersey (New Jersey Privacy Act, SB 332) and Kentucky (HB 15) lawmakers have already passed comprehensive privacy laws. This post provides the details and information you and your business need to know about the New Jersey Privacy Act (NJPA), signed into law by Governor Phil Murphy. You can find our discussion regarding the New Hampshire Privacy Act here.
Important Updates to the New York LLC Transparency Act
The New York LLC Transparency Act (NYLTA) has recently been amended. The key take-aways are as follows:
Effective Date has been pushed back a year to January 1, 2026.
Reporting Companies formed or registered in New York prior to January 1, 2026 will have until January 1, 2027 to provide initial reporting information.
Reporting Companies formed or registered in New York after January 1, 2026 will be required to provide initial information within 30 days after formed or registered in New York.
Set forth below in additional detail is an updated Client Alert on the NYLTA.
Everything You Always Wanted to Know About California’s Workplace Violence Prevention Plan (But Were Afraid to Ask) - Answers to 10 Frequently Asked Questions On California’s New Law
Beginning July 1, 2024, a new California law (SB 553) will require most California employers to establish workplace violence prevention plans. We answer 10 frequently asked questions about the new law below.
Minimum Wage Increases and Ontario Employment Shake-up: What Employers Need to Know
Ontario’s Bill 149, Working for Workers Four Act, 2024, received royal assent on March 21 2024, bringing in new changes to Ontario’s employment landscape. Below are some of the key developments that businesses with employees in Ontario should be aware of.
Essential Annual Actions for Start-up Boards
As a founder of a start-up, you have your hands full, and the end of your start-up’s fiscal year can sneak up on you. But, as the year-end approaches, you should be mindful of a few key actions your start-up board will want to consider on an annual basis. In this article, we’ll walk through the most common annual actions to be approved by start-up boards at their meetings held around the end of the fiscal year: the budget, compensation, including bonuses and equity awards, and other administrative action (including, the appointment of auditors and ratification of officers). Keeping your board engaged on these crucial items yearly will allow the board to see that you are capable of leading all aspects of the business, including in the area of corporate governance, and will ensure you receive valuable guidance and feedback from your directors.
From the Edge - MintzEdge Entrepreneur Perspective: Mintz Awards Winners Share Strategies for Success
Join Mintz Corporate and Securities Associate, Jason Miller, in a conversation with Margaret Yu, founder and CEO of Reliacare, and Andrew Gladue, founder and CEO of Plethys. Both are recent winners of Mintz Awards, an annual entrepreneurship award that Mintz sponsors through San Diego State University’s Lavin Entrepreneurship Center and Zahn Innovation Platform (or ZIP) Launchpad. Reliacare is developing a mobile app to help patients and healthcare providers manage pre- and post-operative care, while Plethys is developing a technology to improve smartwatch sensors for a variety of users.
Learn about their entrepreneurial journeys, including their motivations, challenges, and strategies for success.
Client Corner: Meet CEO and COO of Suono Bio, Scott Kellogg & Skip Farinha
In this episode of Client Corner, Josh speaks to Suono Bio’s CEO Scott Kellogg and COO Skip Farinha. Scott and Skip discuss the importance of active listening in managing a team, strategies for navigating the medical device approval process in the US, key factors to consider when selecting investors, and insights on managing unforeseen challenges.
Client Corner: Meet Co-founder & CEO of Axoft, Paul Le Floch
In this episode of Client Corner, Josh speaks to Paul Le Floch, Co-founder & CEO of Axoft. Paul discusses his journey from growing up in France to becoming a founder and the CEO of a neurotechnology startup. He provides insight into forming Axoft and navigating the fundraising process and offers advice to individuals starting new ventures.
New for 2024: Compliance with the Corporate Transparency Act Necessary for Many Mintz Client
New for 2024: Compliance with the Corporate Transparency Act Necessary for Many Mintz Client
Hsu Untied Interview with Steve Osborn
Podcaster Richard Hsu interviewed San Francisco Managing Member Steve Osborn on his podcast Hsu Untied. In the episode, Steve reflects on his career journey, including his start in law school to becoming an attorney advising on international work in London and Hong Kong, and his rise from launching a boutique firm to his current role as a tech and life sciences-focused Managing Member. Steve also highlights the importance of calculated risks for professional growth.
Section 409A Valuations: Mastering the Art and Science in a Volatile Venture Market
Within the unpredictable landscape of start-ups and private companies, market volatility can significantly alter a company’s financial trajectory. An integral part of navigating this volatility is understanding the role and function of Section 409A[1] valuations. These valuations, which play a critical role in the financial and tax planning strategies of organizations, serve as an independent measure of a company’s common stock value. In this article, we explore the intricacies of Section 409A valuations, focusing on their importance, timing, and methodologies, and offer strategies for engaging with third-party firms to achieve a valuation that most closely aligns with your company’s worth.
Client Corner: Gio Traverso’s Journey Starting Biotech Companies
In this episode of Client Corner, Josh speaks to Gio Traverso, MIT professor, founder of several biotech companies, and a physician. Gio discusses his experience starting six different companies with Josh, comprising both for-profit and nonprofit entities. He reflects upon the process of deciding whether to start a business using a nonprofit or a for-profit structure, bringing together a strong team, evaluating potential investors, and licensing intellectual property from a university.
Year in Review: Laws Impacting Employee Non-Competition, Non-Solicitation, and Non-Disclosure Agreements – What to Know, What to Do and What to Expect in 2024
Year in Review: Laws Impacting Employee Non-Competition, Non-Solicitation, and Non-Disclosure Agreements – What to Know, What to Do and What to Expect in 2024
Boosting Biotech: New York City Revives Tax Credits for Emerging Companies
Boosting Biotech: New York City Revives Tax Credits for Emerging Companies
MintzTech Connect: All Things Technology — December 2023
We lead off this MintzTech Connect with the exciting news of our expansion into Canada. Following that, we delve into an article discussing Biden's Executive Order on Artificial Intelligence. We then spotlight Moolah Kicks, the first and only women’s basketball brand with sneakers made to biomechanically fit female athletes. To wrap it up, don't miss our podcast featuring a dynamic conversation between Josh Fox and Ridhi Tariyal, Co-founder & CEO of NextGen Jane.
Client Corner: Carlos Araque on Leading a Startup
Josh Fox speaks to Carlos Araque, Co-founder and CEO of Quaise Energy. Carlos discusses his motivation in developing Quaise Energy and his guiding philosophy of impact over probability of success. He provides advice to other first-time CEOs and offers insights on the state of diversity in the technology sector.
Client Corner: Anna Turetsky on Venture Investing
Josh chats with Anna Turetsky, Principal, Venture Investments for the Mark Foundation for Cancer Research. Anna discusses the Mark Foundation’s mission and her journey from a traditional venture capital firm to a nonprofit.
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