BizTech Law Blog

Process and Requirements of Women-Owned Small Business Certification

The federal government, states, and some cities set aside a percentage of funding to help women-owned businesses. In fact, in 2021, the federal government set aside 5% of its annual spending for businesses that obtained a Small Business Association (“SBA”) Women-Owned Certification (WOSB). Read More ›

Categories: Compliance, Startup

Posted by: Amanda J. Dernovshek

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SEC Expands Accredited Investor Definition to Include Sophisticated Investors, Others

On August 26, 2020 the Securities and Exchange Commission (SEC) adopted amendments to Rule 501(a) of the Securities Act that expand the definition of “accredited investor” to include additional categories of investors who may invest in unregistered private offerings. This amendment is intended to provide greater access to private investment markets. The amendments become effective 60 days after the new rule is published in the Federal Register. Read More ›

Categories: Entity Planning, Entity Selection, Organization & Planning, News, Startup, Venture Capital/Funding

Posted by: Taylor A. Gast

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Three Steps to Forming an LLC

A limited liability company (“LLC”) provides many benefits and protection to its owners. When forming an LLC there are several steps you should take. Below are three key steps to setting up your LLC. Read More ›

Categories: Compliance, Contracts, Entity Selection, Organization & Planning, Startup

Posted by: Amanda J. Dernovshek

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Million Dollar Baby: Licensing Terms to Protect Your Ideas

You have an idea, a million dollar invention! You have applied for and received a patent to protect that invention, but now what? One way to make money with your invention is to license your intellectual property rights to a third-party for production or use. Read More ›

Categories: Intellectual Property, Licensing, Patents, Startup

Posted by: Cody Mott (Summer Associate)

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Forming a start-up venture with others? Consider a Founders' Agreement.

Co-founders of a start-up venture often find themselves excited and enthusiastic about getting their business idea off the ground. Amidst the whirlwind of developing a product or service and forming a team, it can be easy for the founders of the start-up to put legal work on the backburner.  That is often a costly mistake.  This blog post is the first in a series of articles on legal issues facing early stage ventures.  In this installment, we will discuss founders' agreements. Read More ›

Categories: Did you Know?, Startup

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How Are Foreign Entrepreneurs Affected by the Delay of the International Entrepreneur Rule?

On July 11, 2017, the Department of Homeland Security ("DHS") temporarily delayed the effective date of a rule that would have allowed foreign entrepreneurs to temporarily come to the United States and work in the country when they have received significant financial backing from established investors. Read More ›

Categories: Financing, Startup, Venture Capital/Funding

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How does the "Hire American" portion of the "Buy American, Hire American" Executive Order impact H-1B visa applicants and start-up businesses?

Much ado has been made about the Trump administration's stance on immigration issues. Throughout the 2016 campaign and into the first months of the new presidency, immigration has been a hot-button issue that has consistently garnered media attention. Last month, the administration took one of its first major swings at immigration reform in putting into effect an Executive Order titled "Buy American and Hire American" (the "Executive Order.") The "Hire American" portion of this Executive Order focuses on the H-1B visa program, a program that is used to give skilled foreign workers a temporary visa, granting them work authorization to utilize their skills in the United States. This blog post will analyze the impact of the proposed reforms, and in particular, the impact of those reforms on startup businesses. Read More ›

Categories: Employment, News, Startup, Venture Capital/Funding

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Common Legal Mistakes of Start-Ups

The list below highlights some of the frequent legal mistakes made by start-ups. Blunders and mistakes are certainly a part of life and starting a business. But, we hope that the advice below will help you avoid a few. Read More ›

Categories: Startup

Posted by: Nicholas M. Oertel

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Unpaid Internships Give Rise to Government Enforcement and Class Actions Against Employers

The misclassification of employees as independent contractors is a common and serious issue affecting employers and workers in the technology sector. We recently touched on the legal challenges facing “on demand” technology companies such as Uber and Lyft due to their classification of drivers as independent contractors.

But employee vs. independent contractor is not the only classification issue that technology companies and investors must grapple with. As reported by the Wall Street Journal, a Silicon Valley venture capital firm, Fenox Venture Capital, recently agreed to pay $331,269 in back wages after the U.S. Department of Labor (“DOL”) found the company misclassified 56 workers as unpaid interns. Read More ›

Categories: Employment, Startup

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What is a Covenant not to Compete?

Employers often seek to enter into a covenant not to compete with employees. In many cases, the covenant is the best way to protect the employer from future harm.  Also, many purchase agreements include covenants not to compete. Learn about covenants not to compete in the video below.

Categories: Intellectual Property, Startup

Posted by: Deanna Swisher

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