Legal Funding Tools for Early Stage Start-Ups

Date: November 18 2019 CLE Credits: 1 General

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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.
On-Demand - You watch the course anytime and will have access to the course 24/7. Our On-Demand courses are available within 5-10 business days after the original recording and accessible for one year.

Live Webcast - November 18, 2019

  • 10:00-11:00am PST / 11:00-12:00pm MST / 12:00-1:00pm CST / 1:00-2:00pm EST

Course Description

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.



  • Brandon 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

    Doug 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.
    Contact Doug Bend

      • 1 General Credit
      • ProLawCLE will seek approval of any CLE program where the registering attorney is primarily licensed with exceptions stated below. Application is made at the time an attorney registers for a course, therefore approval may not be received at the time of broadcasting.

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      Each On-Demand course is available to you for 1 year from date of purchase. Additionally, CLE credit is only available within that year.
    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 *Guidlines for SEC and state security filings.

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