If your startup company has moved beyond angel financing, it means there’s a shot you’re about to start courting venture capitalists. This can be incredibly over overwhelming for many first time founders. This article attempts to prepare you for that process by explaining five of the most frequently discussed terms in venture financing term sheets. The first thing to note is that a term sheet is not a legal promise to invest. The purpose of a term sheet is to set out the major business and structural issues involved in the proposed investment. The final agreements that set out the actual terms of the investment will be negotiated later, based on the term sheet. Therefore, it’s really important that you fully understand the term sheet before signing it because it drives all of the other documents. 1. Valuation The first term that any founder will want to look at is […]Continue Reading
Law Office of Business Attorneys in NashvilleAt Thompson Burton, we want to see your business succeed. Whether you’re starting a small business or own a corporation, you can rely on us for excellent corporate law services that protect you, your employees and your property or properties. Our practice provides corporate legal counsel for business owners during all stages of growth. We are available to advise and represent you when selecting a business entity, drafting employee and leasing contracts, solving business litigation, establishing a business plan, creating a non-disclosure agreement, or organizing operations. We also specialize in risk management, business restructuring, intellectual property rights and business transactions.
Business Development RepresentativesWorking with a corporate lawyer is beneficial for anyone interested in forming or purchasing a company. As Nashville corporate attorneys, we navigate all of the steps required before your location can operate, such as choosing the appropriate business entity. Our corporate law firm will determine whether your business falls under the limited liability company (LLC), sole proprietorship, corporation, partnership, or limited liability partnership category. This is especially important, because each business entity is subject to different regulations that can affect owners, employees and assets if not properly followed.
Contact Our Corporate LawyersWorking with Thompson Burton ensures that you and your business are set up for success. If you’re searching for the best corporate law firms in Nashville, TN, contact us. Our attorneys are highly skilled in all areas of corporate and securities law and do everything possible to prevent problems from surfacing while keeping businesses secure.
Forming a Tennessee limited liability company (TN LLC) may seem like a simple task, but there is more to it than filing Articles of Organization with the Secretary of State. The following is a list of five things that are commonly overlooked when forming a TN LLC. Although an Operating Agreement is not required by TN statute, all LLCs should have one, especially multi-member LLCs. The Operating Agreement is a contract between/among the members of the LLC that lays out the rights and obligations of the members with respect to the LLC. The Operating Agreement structures the LLC’s financial and functional decisions, and governs the internal operations of the LLC in a way that suits the specific needs of the business owners. Without an Operating Agreement, the LLC will be governed solely by the provisions of the TN Revised LLC Act, which may not be desirable to the members in […]Continue Reading