Legal Funding Tools for Early Stage Start-Ups CLE
Legal Funding Tools for Early Stage Start-Ups



Live Webcast/Rebroadcast – You watch the course online at the specified date and time shown below. You can ask questions and receive answers during the course.

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Course Description

This program was recorded on November 18, 2019

This course will outline the pros and cons of using convertible promissory notes or SAFE documents for a seed round and the key steps and considerations for a Series A round.

Attorney Brandon SheltonBrandon Shelton
Brandon is a business and startup attorney, focusing on assisting new and emerging businesses in all of their transactional matters. He has represented clients from a wide array of industries, including tech and app developers, filmmakers, breweries, wineries and restaurants, real estate companies, and even chocolate makers. He has counseled clients on corporate formation, late-stage preferred financing rounds, mergers & acquisitions, and everything in between. He also serves as outside-inside counsel, providing general counseling on all day-to-day matters, including licensing, brand management, and employee stock incentive plans. Brandon was formerly a computer programmer in the U.S. Air Force and received his bachelor’s degree from the University of California, Santa Barbara in Dramatic Arts. Brandon received his J.D. at King Hall at the University of California, Davis.

Contact Brandon Shelton

Attorney Doug BendDoug Bend
Doug is the founder of Bend Law Group, PC, a law firm focused on advising small businesses and startups. He has been featured in numerous publications, including The Washington Post, The Huffington Post, Fox Business, MSN, Inc., and Forbes. Raised in Omaha, Doug is a graduate of Drake University where he graduated summa cum laude and Phi Beta Kappa with his B.A. in Political Science and History. He also received an M.A. in Political Science from the University of Nebraska and his law degree from Georgetown University Law Center.

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1 General Credit

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  1. Convertible promissory notes traditionally have been the standard option but SAFE agreements have been growing in popularity the past few years.
  2. The SAFE documents are more favorable to the company because unlike a convertible promissory note SAFEs do not accrue interest and they do not have a maturity date. This is good for startups but also makes the investment less attractive to investors.
  3. The importance of vetting potential investors because whenever you sell a security (and a convertible note and a SAFE are a security) you must abide by a private placement exemption that allows you to sell the security without publicly registering it with the SEC.
  4. Many seed-stage financing rounds are limited to only accredited investors to keep costs low, but what are some options if you have non-accredited investors.
  5. Key terms in the convertible promissory notes and SAFEs *Guidelines for SEC and state security filings.