Startup Cents: Planning For Your First Year Of Legal Fees
This blog explores what a startup can expect to spend on legal in its first year—typically $15,000–$20,000—including formation, founder and IP agreements, and core contracts.
Negative Covenants in Lending Transactions
In corporate loan agreements, negative covenants are restrictions and prohibitions that are designed to preserve the credit of the borrower as it was when the lender initially made its underwriting decision.
Best Practices for Startup Boards
A strong board isn’t just oversight—it’s a growth engine. From goal-setting to risk management, effective boards shape strategy, build accountability, and fuel success. This blog highlights key best practices to help boards perform at their highest level.
All Startups Should Be C Corps, But Not Necessarily In Delaware
In this blog, we discuss why C corps remain the best choice for startups seeking venture capital and explore recent court decisions that have made Delaware a less obvious choice for incorporation, prompting companies to consider alternatives like Texas and Nevada.
Corporate Transparency Act Q&A
We answer some FAQs about the Corporate Transparency Act, which requires most businesses to file a Beneficial Ownership Information report to report certain information regarding the business, its beneficial owners, and company applicants.
Understanding Authorized, Issued and Reserved Shares
In this blog we explore the difference between a corporation’s authorized, issued and reserved shares and some corporate governance considerations to keep in mind as shares, options, and warrants are being issued to founders, service providers, and investors.
Mistakes that Take the Cake
Corporate attorneys tend to see recurring mistakes that businesses make, and the large impact they can have. This article summarizes four common errors we see at Vela Wood, in the hopes that you (the reader) can avoid them. State Annual […]
Understanding Basic Contracts: Liability Limitations
We are back with our Understanding Basic Contracts series with a post about the often seen, but little understood, “Liability” or “Liability Limitation” Section. The liability limitation section, much like the indemnification clause, is all about allocating risk and monetary […]
What’s In a Name: A Primer on Types of Agreements
This is a brief primer regarding the typical names and usages of different types of product and service agreements, particularly in the technology space, so you have a better understanding of what types of agreements you might need for your startup’s services and products; and what to expect from someone else.
Understanding Basic Contracts: The (Ir)Relevant Title
A client reached out yesterday to ask what the difference was between an independent contractor agreement and a master services agreement. He had two sitting in his inbox – different titles, though they were for the same project. At their […]