Thompson Burton has added real estate and M&A attorney Jon Field as a partner. Field was previously the founder of Field Law. At Thompson Burton, he will work with real estate developers, physician groups and investors. “Jon has quickly and easily woven his practice into the firm and we’re excited to see how he will grow our corporate practice area and supplement our real estate team,” said Walt Burton.
Continue ReadingIf 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 ReadingForming 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