Email from a recently formed two founders start up: “Hey, Foundry, when you formed our corporation, I thought we had 10 million authorized shares. Why do we only have 4 million shares each and not 5 million if we are 50-50 owners?” At Foundry, we frequently receive questions like this. To start, it is standard […]
It was only one year ago that the California Consumer Privacy Act of 2018 (CCPA) went into effect. The CCPA is a landmark privacy law providing California residents various protections with regard to personal information. Even though the CCPA is in effect, it is still undergoing rulemaking with the 4th Set of Modifications to the […]
Congrats on the acquisition prospect! This is both an exciting and nerve-racking opportunity. Hiring an attorney during an acquisition is a natural expectation. The question we are addressing in this post is when to do so. Hire an Attorney Before Signing a Letter of Intent The early stages of the acquisition processes generally […]
This post covers Washington State COVID-19 business resources and relief. COVID-19 is having an impact on all businesses throughout the State of Washington. Below is a brief list of some important resources available now for Washington businesses affected by COVID-19. The Small Business Administration COVID-19 Business Relief Many businesses are experiencing financial disruption because […]
Entity conversion refers to when an entity changes from one entity type to another within a state (e.g., a Washington LLC to a Washington corporation) or when an entity changes its “home state” (e.g., a Delaware LLC to a Washington LLC). Washington law specifies requirements for converting an entity within the state. This post considers […]
You Can’t Do That: Changing Tides in Washington Non-Compete Agreements Non-compete clauses are commonplace in many agreements. Generally, non-compete clauses limit an individual’s ability to compete with an employer’s business while working for the employer or after ending the working relationship. With a growing economy, cities like Seattle rely on attracting top talent. Since most […]
With increased attention on the development and use of bots, California’s new bot law holds some key takeaways. Most importantly, California is setting an example for other state or national laws, but does it go far enough? Background of the Law Regulating Bots On September 28, 2018, Governor Jerry Brown approved Senate Bill […]
Foundry Law Group has the pleasure of sponsoring the GoVertical ML/AI Startup Creation Weekend, hosted by Madrona Venture Labs and TiE Seattle. About the Event GoVertical brings together a diverse set of participants with business, software development, and data science backgrounds to pitch ideas, form teams, and compete for final round consideration of the […]
IoT (or Internet of Things) has seen a boom in the past several years. Connected devices such as Alexa or Siri are well known, but many more products feature connected functionality. In general, IoT has been far less understood and far less regulated from a privacy and data security standpoint. This year California has passed […]
One of my favorite responses to any question is: “I guess I’ll have to answer your question with another question.” It’s probably the reason people generally avoid me at parties, but so often when giving any advice, it makes more sense to leave the decision in the hands of the person with the most intimate […]