What rights do I have as a shareholder?
You and a squad of 4 friends stumbled on a great business idea in your final years of school –…
Negotiating Venture Terms: Two Essential Things to Understand
Ownership & Economics and Control & Voting Rights are the two essential things founders should understand when negotiating venture terms.
Startup 101: All The Legal Stuff Investors Like To See Before They Invest
The desired end result of the dance performed by a founder and an investor is for the founder to get the investor to believe in her/him, and provide the funding required to develop her/his product to the extent he is able to attract sufficient business for both founder and investor to be financially rewarded.
Startup 101: The Ultimate Startup Documentation Starter Pack
I’ll be highlighting a few documents a startup should have, and why they need those documents. These documents are what we lawyers would say are sine qua non to your existence as a startup, which is simply lawyer speak for ‘essential, an absolute requirement, important, vital, crucial, etc’.
Startup Vesting: Because No One Jumps Off A Cliff Without A Chute
What is vesting? Vesting is the manner in which founders (or employees) of a company ‘earn’ beneficial, real, actual, substantive ownership of their shares in a company through periodic installments. So on Day 1 of the Company’s incorporation Tina and Tom would, on paper, own 50% of the Company’s shares at the CAC
Startup 101: Founder Relationships, And Why Getting a Prenup is Important
A well drafted Founder’s Agreement would contain some basic clauses which include capitalization, Decision Making, IP Assignment, Vesting, Confidentiality, Non-Circumvention, Roles & Responsibilities, Distributions, Exit and Dispute Resolution. Other clauses specific to each founders’ relationship should also be included.
Startup Setup Basics, Part Two: Company, Business Name Or Partnership?
This article delves deeper into the question of why you would choose any of the structures I explained. I will try to be as practical as possible and won’t bore you with textbook reasons.
Startup Setup Basics, Part One: Good Legal Karma
CAMA is the law which strikes erring business entities or enables law abiding ones in Nigeria. CAMA (which refers to the Companies and Allied Matters Act, Laws of the Federal Republic of Nigeria) is how Nigerian lawyers commonly refer to the law which regulates almost all business entities in Nigeria.
Startup 101: First Of All, Introduction
I am hoping this journey into the basic legal needs of every startup will not only inform and enlighten but would also be practicable and adaptable in your startup journey.