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Fill and Sign the Early Stage Technology Company Overview Punch List Form

Fill and Sign the Early Stage Technology Company Overview Punch List Form

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2.13 Early-Stage Technology Company Overview Punch List1. Basic Business Blueprint ¥ Business Plan (including projected capital needs) ¥ Milestone Targets ¥ Proforma Financials ¥ Description of Management Team and Compensation of Founder-Employer ¥ Description of Marketing Plans ¥ Retain Competent CPA 2. Name Selection/Name Reservation/Name Search ¥ At founding stage ¥ Before Entering Market and Developing Relationships (very important) ¥ Decide Relevant Timeline Milestone ¥ Trademark Search for Domain Names and Brand Names (very important) 3. Choice of Legal Entity ¥ Corporation (investors prefer Subchapter C Corporation)¥ LLC ¥ Partnership ¥ Other 4. Choice of Jurisdiction of Organization ¥ Delaware ¥ California ¥ Texas ¥ Other 5. Qualification to Do Business ¥ California ¥ New York¥ Texas ¥ Other 6. Tax Identification Numbers ¥ Completion of Form SS-4 ¥ Filing of Form SS-4 ¥ Any Required State and Local Filings 7. Charter Documents ¥ Certificate of Incorporation (with blank check preferred authorized) or Other Charter Document (e.g., Articles, Limited Partnership Agreement, LLC Agreement, etc.) ¥ Bylaws, Regulations or Similar Documents ¥ Organizational Resolutions ¥ Corporate, Partnership, LLC or Other Books ¥ Stock or Other Equity Interest Certificates ¥ Corporate, Partnership or Other Seal ¥ Equity Issuance Ledger ¥ Timely Issuance of Founder Shares 8. Board of Directors¥ Identify Inside Director Candidates ¥ Identify Outside Director Candidates ¥ Caveat: No VC's Until Closed Funding Deal ¥ Establish Committees ¥ Establish Policies (e.g., sexual harassment, weapons, securities trading, etc.) 9. Shareholders or Equity Holders Agreement ¥ Preemptive Rights ¥ Rights of First Refusal ¥ Rights of Tag Along or Take Along ¥ Restrictions on Transfer ¥ Voting Provisions ¥ Other 10. Employment Agreements ¥ Founder Employment Agreements ¥ Non-Founder Employment (or "Standard") Agreements ¥ Agreements Must Convey Title to Intellectual Property to the Company 11. Confidentiality Issues ¥ Employee Confidentiality Agreements ¥ Vendor and Customer Nondisclosure Agreement ¥ Non-Circumvention ¥ Non-Solicitation/Non-Disparagement¥ Other 12. Inventor Assignment of Rights and Related Policies 13. Patent Committee and Policies (if appropriate) ¥ Establish Patent Committee ¥ Develop IP Harvesting, Retention and Exploitation Policies ¥ Engineer Training and Seminars 14. Benefits Methodology ¥ Outsource (e.g., administrative staff; other) ¥ Insource (e.g., individual company plans) 15. Equipment/Software/Other Licenses Required to Operate ¥ Identification ¥ Negotiation 16. Stock Option Plans ¥ Percent Equity Reserved? ¥ Qualified Incentive Option Agreement ¥ Non-Qualified Option Agreement ¥ Vesting Philosophy ¥ Other 17. Insurance and Risk Management ¥ Identify Vendor/Agency ¥ D&O¥ Key Man ¥ General Liability ¥ Other 18. Identifying and Introductions to Sources of Capital ¥ Family and Friends¥ Angels ¥ Venture Capitalists ¥ Strategic Partners ¥ Commercial Banks ¥ Others 19. Preparing Investor Presentations ¥ Sixty-Second Overview ¥ Power Point ¥ Identifying the Team ¥ Other 20. Funding Documents with Venture/Seed/Other Financing Source ¥ Convertible Promissory Note (usually seed/incubator level) ¥ Warrants (usually seed/incubator level) ¥ Collateral Security Agreements (usually seed/incubator level) ¥ UCC 1s and Related Filings (usually seed/incubator level) ¥ Assignment of Rights (usually seed/incubator level) ¥ Other Lender/Inventor-Required Documents (usually seed/incubator level) ¥ Amended and Restated Certificate (first and subsequent rounds) ¥ Preferred Stock Designation (first and subsequent rounds) ¥ Investor Rights Agreement (first and subsequent rounds) ¥ Co-Sale Agreement (first and subsequent rounds) ¥ Other

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