Business Planning: Start-Up Business and Venture Capital
This course introduces students to the various legal and business considerations involved in forming and operating an emerging growth business. The course uses a hypothetical start-up business as well as supplemental readings, sample agreements, and class discussions to help students identify and deal effectively with the numerous issues presented to legal counsel in the start-up and operation of a growth oriented business, including selecting and forming a business entity, structuring the economic benefits and management control among various owners, protecting intellectual property assets, and raising capital. The course begins with an analysis of some of the issues confronting a start-up company in its earliest stages, and examines the use of an LLC, both as an operating entity and as a vehicle for a joint venture, then addresses issues faced by company founders in contemplation of a subsequent venture financing. The course presents an overview of the venture capital industry and the significant legal and business issues involved in a venture financing from both the company and investor perspective. The course combines theory and practice in order to prepare students for the types of projects and challenges they will confront in the first year of a transactional practice.