Welcome to the latest episode of our podcast, where we discuss all things startups.
In this episode, we feature Marco, an Associate at McCarthy Tetrault and a startup expert lawyer, who shares his insights and experiences about the legal aspects of starting a business. In this conversation, Sep and Marco highlight the importance of having your legal documents in order when seeking funding. They emphasize the #1 pitfall of operating with ignorance, why you NEED to keep your companies minute book, and why doing it right the first time can lead to raising seed money quicker + avoid potential legal pitfalls down the line. Moreover, Marco shares his #1 advice for startups: knowing when to incorporate and when to enter into a shareholder agreement with co-founders.
He offers valuable advice for non-technical vs. technical founders and how to avoid problematic moments in the team when money gets involved. For early-stage employees, Marco explains the difference between stock options and shares and how they can attract employees to join the startup. He also shares how to protect yourself as an employee in a startup and the difference between preferred and common shares.
If you're a startup founder or entrepreneur and have legal questions, this episode is a must-listen. Marco can be reached at mwai@ccarthy.ca for any startup-related legal inquiries.
Don't miss out on this valuable conversation!
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Contents of this video:
02:30 - #1 pitfall for new founders
06:00 - What startups need to watch out for and when is a good time to incorporate or enter into a shareholder agreement with co founders
10:30 - non technical vs technical founders
13:20 - How do you avoid problematic moments in the team when money gets involved 18:00 How to attract early stage employees and what are stock options vs shares
23:10 - How can you protect yourself as an employee in a startup
29:10 - Difference between preferred and common shares
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