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How to Write Gender-Neutral Contracts
“Men” is not synonymous to “person”, nor does “he” mean “she.” It is important for contractual language to be not only precise but also accurate. Many agreements govern multiple individuals, some of whose gender is unclear or variable.
Patenting Considerations for Artificial Intelligence in Biotech and Synthetic Biology
By Terri Shieh-Newton, PhD, and Marguerite McConihe
Artificial Intelligence (AI) inventions have aided development in nearly every industry, but perhaps none more so than synthetic biology. For synthetic biology researchers, AI has developed into a vital tool to create cutting edge applications.
Recap of Federal Register Notice on Artificial Intelligence (AI) Patent Issues
By Marc T. Morley, Michael T. Renaud, Paul S. Brockland
Artificial Intelligence (AI) is increasingly becoming important across a diverse spectrum of technologies and businesses. As AI grows in importance in business and technology, so too grows the number of patent applications and the potential for uncertainty.
Issuing Stock Options Under an Equity Incentive Plan
By Jenna Stewart
Private companies often adopt equity incentive plans in order to issue stock options to their employees, directors and consultants. However, once the plan is adopted, there are a number of things that a Company should consider when granting stock options. This article provides a list of questions for private companies to consider when issuing stock options under an equity incentive plan.
Why You Should Consider Incorporating Your Start-Up in Delaware
By Michael Ginzburg
Start-ups often ask what is the most beneficial jurisdiction in which to incorporate. Most of the time we advise our clients that incorporating in the State of Delaware is the most advantageous for the following reasons:
California Law Impacts All Categories of Independent Contractors – Not Just Gig Workers – What Your Business Needs to Do Now
By Jennifer B. Rubin & Audrey Nguyen
California Governor Gavin Newsom has now signed AB 5 into law, effectively ban nearly all categories of independent contractors – not just gig economy workers. AB 5 will become effective on January 1, 2020 for all businesses that contract with individuals who perform services in California.
Creating a Board of Directors: Key Considerations for Startup Companies
By Keunjung Cho
One of the most important decisions that a startup entrepreneur can make is creating a board of directors that will assist the entrepreneur in growing and governing the business. A company’s board of directors is tasked with overseeing and advising management, making key decisions about the company’s business strategies, and representing the interests of the company and its stockholders.
MintzEdge Entrepreneur Perspective: Building A Strong IM Business – D. Pfister (AlphaCore Capital)
In this podcast, Dick Pfister, the founder of investment management firm AlphaCore Capital and one of the founders of Altegris Investments, explains how he built successful investment management businesses.
Does Delaware Corporate Law Permit Director Proxy Voting?
By Ashna Pai
Proxies are common in the world of shareholder voting. But, can directors also vote by proxy at board meetings under Delaware corporate law? No, they cannot. Following relevant Delaware case law, directors are prohibited from voting by proxy at board meetings.
MintzEdge 101: How Passion Can Make Your Business Successful – George Daou (Daou Winery)
In this podcast, Georges Daou, founder of a number of successful technology companies and of the Daou Winery, explains why entrepreneurs need to develop and convey to investors the passion they have for their businesses in order to succeed.
You’ve Got Mail! Emails May Be Subject to Stockholder Books and Records Requests
By Zachary Liebnick and Zane Polston
Delaware corporations have always been required to provide certain information to their stockholders under Section 220 of the Delaware General Corporation Law (DGCL), but the scope and form of that information has naturally changed as technology advances.
Why You Need Proprietary Information and Inventions Assignment Agreements
By Daniel Marden
Protecting your company’s intellectual property rights is essential during all stages of your company’s growth. One of the first steps you can take to protect your company’s intellectual property rights is to have all advisors, consultants, contractors and employees of your company enter into Proprietary Information and Inventions Assignment Agreements (“PIIAs”), also known as Confidential Information and Inventions Assignment Agreements.
California’s Privacy Act—Watch for an Expanding Private Right of Action
By Joshua Briones, Esteban Morales, Matthew Novian
The California Consumer Privacy Act takes effect on January 1, 2020, but amendments are expected. In an article recently published by Bloomberg Law, Mintz attorneys Joshua Briones, Esteban Morales and Matthew Novian discuss the April 9 hearing on SB-561, a bill that would expand the private right of action and remove compliance opportunities for businesses, and explain why the bill should be closely watched.
The Impact Terms Project: Defining the Standard for Impact
By Verna Krishnamurthy
The Impact Terms Project (“ITP”) was launched as a platform intended to provide guidance on best practices to entrepreneurs, investors and other stakeholders in the rapidly-evolving social enterprise space
The California Consumer Privacy Act (CCPA): What Startups Should Know
By Brian Lam
Privacy and data security is a serious concern for many startups. They understand that end users, consumers, partners, and investors are now concerned like never before about how data is collected, used, stored and transferred. A bad data event quickly turns into a bad news story, can turn off users, discourage investors, and bring regulatory scrutiny and enforcement.
10 Shortcuts Entrepreneurs Should Not Take When Starting a Company
By Robert Giachetti and Mark Higgins
Congratulations - you have done it! You had an idea, you built a product, you figured out how you want to go to market, and you created a company. With that tedious process complete, you are ready to find your first customer, iron the bugs out of your product, and start making money.
How to Distribute Equity in Your Start-Up
By Patrick Elahmadie
The purpose of granting equity to management, employees and certain consultants is to align the interests of the parties pivotal to the growth of your company with the interests of investors. There are a number of different ways to grant equity in a start-up, the most common of which is stock options
LLCs and Convertible Debt – Too Good to be True?
By Scott Pinarchick and Will Bussiere
Founders choosing a structure for their business are often drawn to the limited liability company, or LLC, for its overall flexibility in both taxation and governance matters. And founders seeking access to early capital, not to mention seed investors themselves, are often drawn to the convertible note as a simple, less expensive means to raise funds.
Issues in Chinese Foreign Direct Investment in U.S. Early Stage Biotechnology Companies
By Flora Brookfield
There has been a marked increase in the amount of money being invested by Chinese investors into U.S. early stage biotechnology companies since 2017, spurred on by direct encouragement from Beijing through its Made in China 2025 industrial policy, which specifically targets biotech as a strategic industry eligible for greater government backing. In the first half of 2018, Chinese venture capital funds and high net worth family offices invested $5.1 billion in US biotech companies, exceeding the $4 billion invested by Chinese investors in all of 2017.
Founder’s Stock – a Legal Fiction
By Michael Bill
In common usage, a founder is an individual who creates or helps create a company, but in legal terms, there is no such thing as a “founder” or “founder’s stock,” only early participants in a company’s organization and ownership of its initial equity capital. Why is this so? Because, for all practical purposes (from a startup’s point of view), there are two types of stock – common stock and preferred stock – and “founders” are just the initial holders of the company’s common stock, usually before any financing, in-licensing, or contribution of assets.
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