meta user
network profile
| bio | website | fulmerlawfirm.com |
|---|---|---|
| location | Raleigh, NC | |
| age | ||
| visits | member for | 1 year, 2 months |
| seen | 9 hours ago | |
| stats | profile views | 110 |
I'm an attorney who works with tech-focused startups in North Carolina, focusing on matters like:
- Equity and Debt Financing
- M & A
- Commercial Transactions
- Terms of Service/Privacy Policy
- Equity/Stock Option Plans
- Licensing Agreements
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Mar 27 |
comment |
Avoiding copyright issues Does your service actually know what material is subject to third-party copyright? (You seem to think that this would be stored in a database, but it's not clear.) If everything is submitted by users, and you don't have any way to differentiate between what they own themselves and what is owned by a third party, then the DMCA will give you substantial protection. If, though, this is information you're pulling off the web yourself, then you can't claim DMCA protection and have to find another avenue. |
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Mar 22 |
comment |
If I sell my LLC in an equity deal will I be taxed for long term capital gains? Yes. Your LLC should be keeping a "capital account" for you, which is your tax basis in your membership interest. If you sell for more than the value of the capital account, then you have a capital gain. The value of that capital account is the "what you put in + profits - losses - distributions." thing that I mentioned in the answer. |
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Mar 22 |
comment |
Advice on startup offer, am I reading this right? 7% after the investors get their hands in is actually really good. Of course, it depends on how many shares they're actually saving for investors -- if they have 10 million authorized, then they should have several million of that reserved for investors. The vesting schedule is also pretty standard. Again, you want to look at what everybody else is getting -- in a new company, everybody's shares should be subject to vesting unless they either bring pre-existing value to the table, either in the form of substantial IP or cash. |
