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Navigating startup funding market trends with Becki DeGraw | Wilson Sonsini Startup Legal Basics
This Week in Startups
Document Everything for Legal Protection
In situations where a company's viability is in question, investors tend to shy away if there are no remaining assets or if liquidation is imminent. Even in rare cases where the company successfully revives itself post-restructuring, past agreements can lead to lawsuits. The complexity of insider transactions, especially those involving distressed funding rounds and unequal benefits for insiders versus outside investors, can heighten scrutiny in legal contexts. To mitigate risks of litigation, it is crucial to meticulously document each decision-making process, involve advisors, and ensure that board records reflect thorough discussions and market validations. Appropriately capturing unanimous consent from all parties involved is essential for legal defensibility in the event of disputes.
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