I have helped dozens of foreign clients launch their businesses in the U.S. Almost every impediment to forming a corporation and running the business under that corporation can be overcome. But there’s one problem I have not been able to solve: Opening a U.S. merchant account (for processing credit and debit card transactions) if the company does not have personnel in the U.S.
The stumbling block used to be opening a bank account if the client has no U.S. personnel (and no home-country bank with an affiliate in the U.S.). However, as explained in Three Important Issues for Foreign Companies Coming to the U.S., I solved that problem earlier this year.
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The evening of Wednesday, July 20, the Silicon Valley Association of Startup Entrepreneurs (SVASE) will present “Your Capital-Raising Roadmap – Angel and VC Perspectives” at the beautiful Crow Canyon Country Club as part of SVASE’s East Bay Series (a tasty buffet dinner is included). Here is a description of the event:
You dream of venture capital to turn your great idea into a huge entrepreneurial success. But even if venture capital is appropriate, other types of funding -such as bootstrapping, personal loans, friends and family, or angel investment – usually come first. Our panel of VCs and angel investors will explain which types of funding are appropriate at each stage and how those types of funding can be combined, over time, to maximize returns for both entrepreneurs and investors.
Panel members lined up so far include:
- Harj Taggar – Y Combinator
- John Matthesen – Serial Entrepreneur / Angel Investor / Venture Partner
Dana H. Shultz, Attorney at Law +1 510 547-0545 dana [at] danashultz [dot] com
This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact a lawyer directly.
I frequently talk to individuals who are about to start new businesses. Sometimes, our conversation reveals that the nascent entrepreneur is:
- Age 30-something,
- Married, and
- Parent of a young child, or has a first child on the way.
When I learn this, I immediately ask, “Have you done any estate planning?” The answer invariably is “No.”
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An article (“For Europe’s start-ups, Silicon Valley still calls”) published yesterday by MarketWatch, part of The Wall Street Journal Digital Network, discusses why European tech entrepreneurs continue to flock to the San Francisco Bay Area.
The article’s theme:
Divided by geography, language, regulation and, in some cases, just old-fashioned cultural prejudice, the region has struggled to shed fully its image as a place where men and women with ideas are born, but where they do not necessarily stay, prosper or secure funding.
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This post about the state in which a startup should incorporate brings together points I have made in earlier posts (please see below) and is based on a comment I made on another Quora participant’s answer.
I admit to having a point of view that differs from that of many other lawyers. However, as explained toward the end of this post, my point of view results directly from the types of clients that I serve.
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The evening of Wednesday, June 15, the Silicon Valley Association of Startup Entrepreneurs (SVASE) will present “Step by Step – Raising Money from VCs“ as part of its East Bay Series at the beautiful Crow Canyon Country Club in Danville, California (tasty buffet dinner included). Here is a description of the event (emphasis added):
In equity financing, the entrepreneur raises money by selling shares in the business to investors, thereby making them partners. Investors earn their returns when the company is sold or through another liquidity event, so their incentives are largely aligned with the entrepreneur’s – they both want the business to succeed. In this program you will learn the step-by-step process of raising equity from a venture capital firm and how to build a successful relationship with your VC.
Panel members will include:
- Tim Wilson, Partech International
- Rock Clapper, Band of Angels
- Jack Robertson, The Robertson Group
Dana H. Shultz, Attorney at Law +1 510 547-0545 dana [at] danashultz [dot] com
This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact a lawyer directly.
A few days ago, a first-time entrepreneur contacted me, asking that I advise him on such issues as employees vs. independent contractors, equity compensation, and the like. As we exchanged e-mails, however, I could see that there were fundamental business issues to which he had not given sufficient consideration.
I wrote that, in my opinion, the he didn’t need a lawyer – he needed a management consultant or business advisor to help him solidify his business model and prepare a business plan. I recommended that he start with the U.S. Small Business Administration. He was thrilled – he called the SBA and made an appointment to visit them the next day.
Bottom line: A lawyer can help you get your business off the ground – but, first, you should have a reasonable idea of where that business is going and how it expects to get there.
Dana H. Shultz, Attorney at Law +1 510 547-0545 dana [at] danashultz [dot] com
This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact a lawyer directly.
I have written about opportunities for foreign entrepreneurs who wish to obtain U.S. work visas (Visa Basics for Foreign Entrepreneurs Coming to the U.S., Visa Basics for Foreign Entrepreneurs, Part 2: What Constitutes Work?). This post focuses on a particularly interesting aspect of this issue: Whether and how a foreign entrepreneur can form a corporation in the U.S. and, then, obtain an H1-B visa to work for that corporation.
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In an article published yesterday (“Money Rushes Into Social Start-Ups”), the Wall Street Journal reported that VCs are investing in companies that are taking social networking from computers to mobile phones. The rationale, according to the article (emphasis added):
Behind the spurt of new services is also the idea that the phone, carried by people at all times, can reinvent the notion of a social network by sharing more real-time information about where people are, what they’re seeing and even who they’re around.
Other points made in the article:
- Phones allow social experiences that are more personal in nature.
- Smartphones and tablets now are numerous enough that users can share experiences widely.
- At least one app completely dispenses with the idea of privacy – whatever you have in that app is shared automatically with everyone nearby who also has that app.
Dana H. Shultz, Attorney at Law +1 510 547-0545 dana [at] danashultz [dot] com
This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact a lawyer directly.
On the evening of Wednesday, March 16, the Silicon Valley Association of Startup Entrepreneurs will present, as part of its East Bay Series, “Cleantech Software – Dealing with Demand”. Here is the description from the SVASE website:
While companies that produce clean energy have garnered mega-sized deals, not all investors are enamored with the supply-side of the energy equation. A growing number of investments focus on companies that help businesses, utilities and consumers reduce demand – particularly software companies that improve energy efficiency, manage the electrical grid, allow trading of carbon credits, or capture waste energy. These capital-efficient companies have a clear business models based on saving customers money or improving their competitiveness; have short investment cycles; and have multiple opportunities for exits. So where are the best opportunities right now? Find out from our panel of VCs. If you’re an entrepreneur with an idea or are gearing up to raise money, you won’t want to miss this important event!
Panel members will include:
The event will take place at the beautiful Crow Canyon Country Club and will include a tasty buffet dinner.
Dana H. Shultz, Attorney at Law +1 510 547-0545 dana [at] danashultz [dot] com
This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact a lawyer directly.
Dana Shultz is a business-savvy lawyer located in Northern California's San Francisco Bay Area (in the East Bay, near Oakland) who has in-depth knowledge of law, business, technology, and the needs of startup and early-stage companies.