Spitz Law Firm – Blog

Anatomy of a Term Sheet 2 – Pre-Money Valuation and the Option Pool

April 7th, 2014

Welcome to Anatomy of a Term Sheet Part Two. In the first part, we looked at the introductory language and some of the basic offering terms in the model term sheet of the National Venture Read More

Anatomy of a Term Sheet – Part 1

April 4th, 2014

Today I start a new series, Anatomy of a Term Sheet. I’m going to take a fairly standard term sheet for a Series A venture capital funding, and explore the various provisions in detail. There Read More

Startup Checklist

April 1st, 2014

In previous posts, I have provided a lot of information on various aspects of getting a startup company established. I thought it would be useful to put a lot of that information in one post, Read More

Bring Your Own Device – Pitfalls and Policies

March 31st, 2014

A fairly recent issue facing businesses and their employees is the trend known as Bring Your Own Device, or BYOD. This term describes the practice where an employer relies on its employees to bring their Read More

Splitting the Founders Equity

March 27th, 2014

A question that would-be startup founders often ask is how they should split the equity among themselves. This is an excellent and extremely difficult question, and also one that I cannot answer for them. Ultimately, Read More

Is Crowdfunding a NonStarter or a Kickstarter?

March 26th, 2014

In 2012, Congress passed the JOBS Act, which among other things, created a new exemption under federal securities laws for crowdfunding. Under the law, companies will be able to raise funds through crowdfunding in exchange Read More

Bitcoin To Be Treated As Property, Not Currency

March 26th, 2014

The IRS has just announced that it will treat Bitcoin and other virtual currencies as property, rather than currency. [Although there are a number of different virtual currencies, to keep things simple I will just Read More

Brand Name Protection – The Three Pillars

March 24th, 2014

Recently I wrote about the importance of ensuring that your desired corporate name is available, as a key step before filing to incorporate your company. Today, I will take an even broader view of protecting Read More

Five Startup Keys

March 18th, 2014

I wanted to share this article by Rebekah Campbell, founder of Posse, a social recommendation startup, in which Campbell shares five key lessons from her first year in business. There's no specific legal content, so Read More

Religious Garb and Grooming in the Workplace – New EEOC Guidance

March 17th, 2014

Earlier this month, the EEOC issued a guidance on religious garb and grooming in the workplace. In general, employers covered by Title VII of the 1964 Civil Rights Act must make exceptions to their usual Read More

Is Your Company Name Available?

March 14th, 2014

Suppose you are a founder of a startup, and you haven't incorporated your company yet. You know it will cost money, and you want to defer that expense as long as possible (although you really Read More

Employment Practices Update – San Francisco Bans the Box

March 10th, 2014

San Francisco has recently passed "ban the box" legislation, which will restrict the questions private employers can ask about applicants' criminal records on job applications and during interviews. The new rules take effect August 13, Read More