Early stage companies are typically urged, and appropriately so, to ensure that their “charter documents,” specifically their certificate of incorporation and bylaws, are consistent with statutory requirements in their jurisdiction of organization, and reflect the short term and identifiable long-term objectives of the founding shareholders.  Many founders will search for “boilerplate” documents on the internet

Canada and investing
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Canada has seen some recent success in having its venture-backed companies progress through IPO, and total venture capital invested in Canadian companies has doubled over the past 5 years.  As U.S.-based investors look across the border for investment opportunities involving Canadian technology companies, they

Early stage companies with valuable intellectual property often receive solicited or unsolicited opportunities to sell their business, which a buyer may view as a means of acquiring intellectual property.  Differences as to enterprise valuation may be bridged through an “earnout” mechanism whereby the buyer pays an initial amount at closing and, if certain milestones are

Letters of intent (LOIs), term sheets, memoranda of understanding—any of these largely interchangeable documents can come into play when an early stage enterprise seeks capital to fund its growth or pursues other commercial transactions. Typically, these documents will be “non-binding” (meaning that their terms will not be legally enforceable by the parties and are merely