Essential Law for Entrepreneurs in Innovation-Driven Startups and Growth Companies (4Dx)
Management and Leadership
Program Days (for certificate credit): 2
This course will be
delivered in our state-of-the art immersive virtual classroom, and will
comprise six 2 hour live online sessions taking place once a week over six
weeks. All sessions will be recorded.
A vast majority of companies encounter
substantial and often unexpected legal costs when starting a new venture.
Whether you are an innovation driven entrepreneur or an entrepreneurial
executive launching a new venture within a large organization, Essential Law
for Entrepreneurs will help you navigate the key challenges when starting,
financing, and selling new ventures. This program will engage entrepreneurs and
executives from across the globe in an interactive virtual classroom where
participants will enter into live discussions about starting new ventures in
the U.S. and debate legal issues with the instructor, John Akula, an acclaimed
attorney. There will also be guest appearances from experienced investors and
experts in the venture and angel investor world.
An innovation-driven startup–one
designed to commercialize a new technology or a business model enabled by a new
technology–faces distinctive law-sensitive challenges that are critical to its
success, whether in a fledgling new company or in an entrepreneurial new
business founded within an established corporation. As an innovative leader, it
is essential that you understand at a high level how the law shapes these risks
and opportunities. With a deeper appreciation of these issues, you will bring
better judgment and more effective leadership to the founding and growth of
these exceptionally dynamic ventures. In this unique program that leverages
decades of insights and experience from MIT, you will learn how to answer
questions such as the following:
- In innovation-driven startups, there is often a team of
entrepreneurs, rather than a single founder. The timeline for growth of
the business is not linear–there is often a substantial period of no
revenues and investment followed, hopefully, by extraordinary growth. This
also creates a need for investors, and in particular investors who share
the founders’ appetite for risk. In this environment of radically shifting
risks and opportunities, how can you protect your interests with an
appropriate legal framework for ownership, compensation, incentives,
responsibilities, commitment and control?
- If you are a global company expanding into the U.S., what
are the legal considerations that will impact how you set up your
- When the value of a venture is based upon an
innovation, intellectual property (IP) rights are often key to growing
that value. How do legal considerations shape an effective IP strategy?
How can IP rights be acquired? How can IP be protected from threats such
as the departure of key employees?
- Some innovation-driven startups have as their goal
growth into a fully mature enterprise. But often the goal is to develop a
product or service to the point where its value is clear enough to attract
a buyer for the entire venture. Negotiations with prospective buyers are
typically very asymmetric–with the new venture sitting across the table
from a counterparty with far more resources and experience. This is also
often true in negotiations with prospective investors. What tools does
the law provide to protect the entrepreneur?
- As the innovation-driven startup matures, taking on
investors and shifting its business focus beyond enabling the innovation,
pressures are generated for shifts in governance and management. The
board, which at the outset is typically just the founders, takes on new
members, more formal functions, and a more complex set of legal
responsibilities and liabilities. Founder-CEOs are often replaced even as
a venture achieves early success (and sometimes precisely because of that
success). What do key stakeholders need to understand about how the
legal framework of the venture channels these changes?
- Such ventures have an acute need for savvy legal advice
and representation, but lawyers are expensive and resources are often very
limited. How does the startup obtain and finance the legal services
that it needs?
innovation-driven startup is a high risk/high reward venture, and even
those that are ultimately successful may suffer periods of financial
distress. Financial distress creates major legal risks for a business
entity and its managers. What legal pitfalls must be avoided during
times of financial distress, or during a winding down of the
Session Dates and Estimated Times (you must attend all):
Tuesday, November 11, 2014:12:00pm-2:00pm Eastern U.S. Time
Tuesday, November 18, 2014: 12:00pm-2:00pm Eastern U.S. Time
Tuesday, November 25, 2014: 12:00pm-2:00pm Eastern U.S. Time
Tuesday, December 2, 2014: 12:00pm-2:00pm Eastern U.S. Time
Tuesday, December 9, 2014: 12:00pm-2:00pm Eastern U.S. Time
Tuesday, December 16, 2014: 12:00pm-2:00pm Eastern U.S. Time
Please note as this is a new program there are no reviews available. However, you may be interested reading reviews for John Akula's other course, Essential Law for Executives: The MIT Advantage.