Presented by Procopio and the San Diego Software Industry Council.

Schedule:

5:30 PM – Registration & Networking
6:00 – 7:00 PM Program

Program Overview:

For entrepreneurs, deciding to form a company, or become involved with a start-up, presents enormous challenges. Navigating around legal, fund raising and accounting issues can seem overwhelming, and the traps for the unwary or uninformed are numerous. However, successfully avoiding the most common pitfalls made by entrepreneurs can make a significant difference as to whether or not a company is fundable, the sources and types of capital that will be attracted, who controls the company, the economic impact on founders in the event of an exit, and a company’s likelihood of success. In this workshop, Roger Rappoport, a partner with Procopio, Cory, Hargreaves & Savitch LLP, Ken Olson, investor, member of the Board of Directors of WD40 and Digirad, and former Chairman and CEO of Proxima Corporation, and Doug Obenshain, Audit Partner, Ernst & Young, will discuss these and numerous other issues facing entrepreneurs, and practical “takeaways” to deal with them.

Roger will discuss:

• Choices in entity selection (LLC, “C” Corp or “S” Corp.);
• An appropriate capitalization table, including how much stock to set aside for employees, consultants, board and advisory board members and the perils of Section 409A;
• Founders’ issues, including amount and allocation of founders’ stock, vesting, assignment of intellectual property, and employment/consulting agreements;
• Developing and executing the right funding strategy (bootstrapping, seed, angel or VC funding);
• The perils of taking too much money too soon, or not taking enough;
• Different funding vehicles, including debt, convertible debt or the sale of equity;
• Selecting, and gaining access to, the right funding partner;
• Valuation, and things to do to increase the pre-money value of your company; and
• Building a strong Board of Directors and Board of Advisors.

Doug will discuss accounting issues to contemplate from inception and going forward, including cheap stock, FAS 123R, and Section 409A issues and how these issues can affect the valuation of a company in the short term and the ultimate value received in the event of an exit.

Ken will discuss all of these issues from the perspective of an investor and board member, providing a practical insight as to how he and the companies that he is and has been affiliated with have dealt with them.

Cost:

Attendees must pre-register for the seminar.
$35 pre-register Member
$45 pre-register Non-member

To register for the workshop, visit SDSIC.