The Issue for Founders
Founders of startup businesses need to decide whether to incorporate in Delaware or in the state in which they will be conducting business. In spite of the commonly held lawyer view to the contrary, I believe founders should think long and hard before choosing Delaware since it often is not the best choice for a typical early-stage startup company.
Many Startup Business Lawyers Routinely Recommend Delaware
During the high-tech bubble in the late 1990s and early 2000s, the idea of a quick path to an initial public offering became so entrenched that startups began skipping the step of incorporating in their own states and moved directly to a Delaware incorporation to speed up the process of going public. The bubble burst but this practice did not.
So what do we have? The impetus that drove lawyers to use Delaware routinely for startups was to shorten the path to IPO. After Sarbanes-Oxley and certain public accounting rules changes, very few startups any longer go the IPO route. Yet the Delaware filing pattern persists.
Let us consider the advantages of a Delaware incorporation versus the disadvantages to see if it makes sense for startups to file routinely in Delaware as many lawyers urge them to do.
Why VCs Favor Delaware
Delaware law affords substantial advantages and is an ideal state of domicile for public companies and late-stage startups that are about to go public. Delaware has a well-developed and reasonably consistent body of corporate law with which most business lawyers are familiar. It offers various advantages that help shield an entrenched management — such as the ability to dispense with cumulative voting for directors and the ability to stagger the election of directors. Owing to these advantages, Delaware is favored by venture capital investors who typically do control their portfolio companies and who prefer to make that control as complete as possible. Public company managements like Delaware for this reason as well.
Delaware law also typically gives preferred stock investors with voting control of a corporation the unilateral power to merge that entity into another, or otherwise have it get acquired, without need for approval of the founders or other early-stage participants who typically own most of the common stock. This type of transaction can “wipe out” the value of the common stock because it can be structured so that only those who hold a liquidation preference (i.e., the preferred stockholders) get any economic value out of it while the remaining shareholders may get little or nothing. In Delaware, unlike other states such as California, those who stand to get nothing out of such deals often have no voice in stopping them. Thus, there is good reason why preferred stock investors (i.e., VCs) will tend to favor Delaware corporations. It gives them enormous leverage over the remaining shareholders in the event the VCs decide to “take out” the company.
Here is a real-world illustration of how this can work. A few years back, when the tech bubble burst, I was working side by side with lawyers from a prestigious Silicon Valley startup venture firm on some joint client matters. During a lengthy phase, I could never get hold of the senior associate from the big firm who was working with me — he was doing an endless stream of “mergers” for weeks on end. Why, as everything around us was coming crashing down, would there be a rash of mergers? Not because these were success cases. They were not. What was happening was a systematic shedding of portfolio companies by the VC firms with quickie mergers as the vehicle. The dreams of many founders fell fast and fell hard in those short weeks.
Thus, the startup world as dominated by VCs had evolved. Before the high-tech bubble, the typical approach was for startups to incorporate in their home states and only reincorporate in Delaware when they reached a mature stage at which the advantages of Delaware law made a substantive difference to them — that is, on the eve of IPO. In the post-bubble era, the VC preference is universally for Delaware, even from inception.
How to Choose the Right Air Conditioning Contractor
Do you think now is the time to finally displace your old air conditioning unit? Does your air conditioner need some repairs already? A home owner has the option of choosing an air conditioning contractor in order for him to save time and cash. If you have questions, the contractor can answer them. He will also have to be informed of your needs so that he can provide you with options.
When purchasing products, one of the most important things you have to consider is if it meets your needs and if it is worth your money. Air conditioning units can be quite pricey so you would want to see to it that everything is worth it. In purchasing a new air conditioning system, it is important to hire the best contractor because it is the deciding factor for your satisfaction. Your home is your fortress and comfort-zone. You need someone who can help you out with these decisions.
The Licenses, Credentials, and Insurance are Necessary
It is a necessity for you to dig in the important details about a contractor before deciding to sign a bid or contract. You will have to do some research first because every state have different requirements. Once done, you will be able to know which requirements to ask from the contractor. You will have to affirm those licenses. In addition, check if the HVAC license is valid and not expired. The state licensing boards can help you with this.
The home owners will be at ease once they are able to
Hiring a Contractor with Experience
It is because of the advancement of technology that the air condition units have improved when it comes to its features. Once you have made the decision of replacing your old air conditioning unit with a new one, you would have to make sure that you hire a professional who knows what he is doing. Also, one who has knowledge about the products and services they offer. They have to have more than enough experience because from there you will know if they are capable of doing the job. The contractor will not only install the system but they will also be the one to maintain and repair in case of damages. Therefore, it is important that they have reliable employees.
Before Contract Signing
It is very important that the homeowner was able to know everything he needs to know from the details to the work order before signing the contract. Then, the work begins. The details are very important because it tells you about the work to be done, the installation process, and many more. It is vital that you ask a writing of the details. The details should include when the job starts and target end date, how much will it cost, the supplies and equipments, the labor fee and the possible problems that can arise from the process.
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How to Appreciate Your Employees
Having good employees in your work force would be a great advantage to have as they would surely be able to provide a lot of things for your company, it is important that you should be able to make sure that you know how to look for them. Good employees would surely bring a lot of success for our company and we should know that it is important that we should be able to treat them properly as they are people that are very important to our work force. Good employees produce great results because of the hard work that they provide in doing their work and it is important that we should be able to let them know that we appreciate the things that they do for our company. It is common knowledge that we are going to be rewarded for great things that we have done that is why it is important that you should not forget to reward employees that have provided a lot of things for the success that your company would have as they would surely be able to appreciate it. People who are working hard would need to be recognized and it would be better if you could set something to motivate them to work more so that they would be inspired in doing a great job.
There are a lot of businesses that have lost good employees because they undermine the achievements that these employees are able to provide. You may not need to provide a lot of increase in their salary in order to let them know that you appreciate their services as you may just praise them for the job that they have done as it would surely be able to make them a lot happier. In our times today, it is also important that we should be able to provide the proper working environment for our employees so that they can be comfortable in doing their job and we should make sure that we are reasonable in the demands that we would give them. There are benefits that we should be able to provide to our employees and we should know that it is something that we should not deny them as it would be able to cause a lot of problems later on. It is important that you should make sure that your employees would also feel comfortable working for you that is why it would be best if you could also interact with them from time to time. A happy employee would surely not leave their job sometime soon.
Having the Best Sales Team
Every business wants a sales management that is consistent with its good work. There are actually ways on how to improve the people working for your business. The bottom line manager and the people manager are the two types of business leaders that you should study.
A bottom line manager does not invest on the people that he hire for his team, which makes him different from a people manager. Quotas should be met as a team, according to a bottom line manager. What is important for a people manager is to keep an eye on the team every single day, without worrying so much about the end. These managers give different benefits to the company. The pressure is always on under the management of a bottom line manager, making the team meet the productivity goal before deadline. A people manager focuses more on the quality of the work done by the team members. But if you want to have good productivity and a good quality at the same time, you need to learn how to fuse the two ways of managing your team.
Integrity is needed in order to become a good leader. Upholding integrity as a leader will show everyone how dedicated you are. All great leaders in the world have shown integrity. If a leader has no integrity, then there is no leadership at all. You are not a true leader if you do not have integrity. A good leader with integrity can reach any goal for the good of the business. You must take good care of the trust of your team and clients by being honest all the time.
It is important to set the expectancy of the person you will interview for a position in the company. Applicants will have no problem about everything if you tell the ahead. The interview should include this stage in order for you to hire the applicants who are willing.
Teaching your members what to do next after being hired is a must. The knowledge of most people applying for an insurance job is quite little.
They might have worked in companies that just give them certain tasks that should be done within a day. These people should be taught by you regarding the principles of products and sales in order to be able to do their job well. You need to have balance to be successful in doing so. These people can be trained to become eager employees, who are still enjoying their work.
Look for way on how you can motivate them. Introduce them to fame, romance, and fortune, which are the three main factors of motivation. Working hard will result a good return through their payment, which will make them rich if they save and invest. If you want to improve your love life, you can work hard in order to get that travel incentive that will bring you and your partner in a wonderful place.
Different Classifications For Business Awards
If you’re looking for trophies and awards, then one very important step to do is having info regarding its classification. It doesn’t matter if you plan to give trophies for a pageant or competition or recognition awards for corporate event of your company, what matters most is that you know what your choices are.
As a matter of fact, there are different kinds of awards prior this contemporary time. In earlier times, the winners of Olympic Games received Laurel wreaths as their trophies while in ancient Greeks, they are using the remains of wrecked warships to award themselves. Although the recognition were given differently, awards and trophies that we have now are affordable, attainable and can be made to custom plaques.
Apart from the features that are in trophies and awards of today, they are also made in different materials and shapes. The common materials that are being used include crystal, glass, metal or steel, wood, marble and acrylic.
Acrylic awards – basically, this is one of the best materials used to create such. In addition to using acrylic on trophies, you’ll also see it being used on wide varieties of products such as home improvement tools, furniture, paint and a lot more. Since it is a glassy thermoplastic, it is possible to mold it to your desired shapes. And mainly because of its high transparency rate, it is mostly used as substitute for glass as it’s like the cheaper version of it.
This is the reason why Acrylic Awards are good option to give as monthly recognition for employees. This expresses elegance without putting a dent on the budget of your company.
Glass awards – they say that even though there cheap acrylic awards, still nothing’s comparable to glass awards. If you want something that’s a real classic and would carry a timeless design, then go for trophies and awards made from glass. This is due to the reason that you can craft them into different shapes and forms. There are plenty of businesses that actually opt for business award plaques that’s made of glass simply because of the reason that it looks elegant and sophisticated. In regards to the lettering on glass, it could be done by printing on it or engraving.
Crystal awards – this is another sought after and popular classification you could have. Its popularity has boosted because of the pure beauty that it holds. Almost similar to glass awards, crystal awards can be made in different forms. You may choose something that’s premade or have a shape that’s customized to the event or award title that you’re about to give. Not only that, crystals may be crafted by hand or cut by laser and be printed on and engraved too.
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How to Facilitate Competition in Sales Team
The main aim of business is to make as many profits as possible, and one of the ways to make profits is to increase the sales levels of the firm. Competition among the sales team members is crucial in motivating the sales staff to work hard each day and improve. For the team to work in the best way, it is necessary that you encourage competition among them so that they can function tirelessly to outdo each other and at the same time, the sales quantities improve. So we can look at some of the ways how to increase competition among salespersons for the benefit of the business.
Do away with unproductive salespeople – In every sales force, it is evident to have people who cannot meet sales targets no matter how small the targets are and regardless of efforts made to facilitate sales. Non-performers do not improve in spite of any efforts to teach them and providing any form of assistance to them. Let not your efforts go in vain, and it is high time that you did away with them but also remember to advise them that the sales job is not suitable for them. Get rid of such people to serve the company’s resources and boost the morale of the rest of the team.
Teach the top performers – Make use of high performing sales individuals by giving them extra training so that they sharpen their skills and continue serving the company by delivering in their sales mandate.
Provide a conducive atmosphere – Give direction to the sales team. Properly facilitate the team by providing them with working equipment and give them motivation and encouragement to work hard. Give them a conducive environment to do their jobs best.
Insist on proper accountability – Accountability is essential in a sales team so that every person is responsible for his activities and this also facilitates carrying out disciplinary actions whenever one goes against company’s policies. You can easily monitor actions of individuals with proper accountability measures.
Give room for each staff to be more productive – You can teach the team how to utilize their time to improve production effectively. Proper use of time in sales translates to high sales. Help them to do proper planning of time to avoid time wastage.
Set mutually agreed targets – Do not impose sales targets on staff without consulting them as this could be not realistic and impossible to achieve so discuss and have consensus on sales goals which are reasonable and practical.
Prompt reporting – Do not comprise when it comes to sales reports as it contains vital information for the business. You can get sales information which can influence other factors in the business. The sales report should also give an overview of what other business competitors are doing in their quest to gain market acceptance so that the firm can prepare adequately with other strategies.
Through proper facilitation, the sales team will continuously improve their performance. Importantly, rewards play a great role in encouraging salespersons. You will have a competent sales team if you focus on the above activities.
The Importance of Awards and Recognitions in the Business Industry
The success of a business is primarily based on the people that worked diligently in order to accomplish its goal. A businessman who works diligently to ensure his company’s success must be rewarded. Furthermore, it is very important for business owners or managers to create a work environment that is full of commitment and encouragement. Providing awards and recognition can encourage the employees to work with enthusiasm. Thus, it is not only the business owners that should be encouraged but the employees as well.
It can be a very daunting job for the employees if they are advised to work harder. Your employees are most like to leave their jobs if their working environment stressful and physically demanding. Human as we are, we easily get tired of doing certain things that we do really like. It is not that easy to have a continuous business growth, however, it is very much achievable if business owners will motivate themselves as well as their employees to do well in order to receive a recognition or an award.
According to research, a good working environment can be created by using two of the most common and effective techniques such as recognition and rewards. A company that provides their workers an award for performing well will have a substantially high employment performance. This only means that a high employment performance can increase a worker’s effectiveness that will eventually lead to the growth of a business.
Regardless if reward is given in a financial or non-financial way, it will definitely play a significant role in motivating the employees of a company. If you only have a small business and you think that financial rewards are too expensive, you should think of an enticing reward that will not require you to spend much. Always keep in mind though that a reward should only be given to those employees that are worthy of receiving it. Therefore, it would be best if you acknowledge and praise the efforts that your workers have made. Moreover, a recognition can cause a significant improvement on the performance of your employees.
Receiving a local or international award from business sectors should also be one of your goals. The company, business owners and the employees should have an award given by the business world if they are well deserving of it. If a worker feels like nothing can be obtained from doing a certain job, he or she will easily get tired and hate what he or she is doing. The praise and recognition that you receive from your boss is still very much different from the monetary reward that you can get.
The Relevance of Team Building in Business Realms
Building a business isn’t the easiest thing in the world as it always involves people from different walks of life. It is important that every person on your team understands that they need to have the willingness to work together for the sake of the business, their individual growth, and the clients. Team building exercises are just as crucial when you’re still creating a team of employees who will help you along the way.
What results will you get when you try team building exercises?
First of all, you are able to build trust. Trust is a very crucial foundation for a solid team of workers. As an entrepreneur, you have to understand that building trust with your employees is a core value in obtaining success for your company. Team building not only helps build your employees’ trust for you but it also establishes their trust in their own selves and in their colleagues.
Aside from trust, you’re also encouraging your employees to be comfortable with each other. Team building exercises help enhance good work among employees. When everyone in the team is comfortable, effort and love for work pours in.
Conflicts happen in the workplace. Whether it’s a personal or creative issue, conflicts can actually hamper the flow of production. However, you can avoid these.
Team building exercises will help relive whatever conflict your employees may have. Personality differences are inevitable but team building exercises will help your employees meet halfway. Experts recommend neutral locations when you’re in search of perfect spots where you can host the exercises. These places are parks and other open areas where your employees can enjoy.
Collaboration is a crucial aspect in the workplace. Team building exercises are very essential in a setting that talks of employees pointing at each other whenever a problem arises. Through team building, your employees will start understanding each other, collaborating for related tasks, owning up to their mistakes, and improving their workbase.
One huge problem that has hampered production for some businesses is miscommunication. This problem can be avoided through team building exercises that are focused on encouraging employees to share ideas and communicate with their colleagues. A team that has solid communication skills will exert collective effort in accomplishing even the hardest tasks that you give them.
There are actually various exercises that you should try as you build your amazing team. You can also get help from a team building professional.
Team building experts have had a lot of experience with different people who come from different industries and communities. They also know very well how to handle the activities and find the best places. The best part about hiring a professional team building coach is you get to indulge in the activities with your employees. Each of your employees will definitely appreciate your efforts and involvement and will feel honored to be indulged in the activities with their boss.
Best Ways To Manage A Sales Team
As a leader of a sales team, you need to have different types of styles of leadership to effectively manage your team. You should have the skills required in sales management so that you can lead your team in achieving their target.
You must be a very approachable person for effective management of the team. Sometimes, you will need to hold yourself and your team members accountable for your actions and statement.
If you are new to being a manager, you will often make mistakes. Admit that sometimes you make mistakes and let the team know that you acknowledge that. Avoid behaving like you have solutions to all problems, some members of the team will try to come up with problems so that they can see you solve them. If you want to have a bond of mutual respect with your team members, ensure that there is transparency between you and the members of the sales team.
One pitfall you might fall especially if you were previously a salesperson is that of giving directions to the team members. You could be aiming at directing them in the way that you think is the best for the situation you are in. However, giving directions to your team on regular basis will take away the initiative and the willingness and ability to look for unique solutions to problems. You will not be building a sales team rather you will be building clones of yourself.
While making a multiple of copies of individuals who are like you might sound a great idea-after all, you have succeeded-it is a trap. A the team that has unique solutions to the same problem would function better. To effectively manage your sales team, you can use some styles. Each of this styles has an appropriate time and place of using them.
When there is a problem in your sales work, consultative approach is one of the approaches that you can use . Ask your team. Do will not be the one to give those directions on what to do. See what they think about the situation, account or customer. Ask your team how they want to solve the problem they are facing and how you can help them.
Initially, your team members may be surprised by the way you are handling your management, and at first, they might not know how to act. If your predecessor was a directive manager, this will undoubtedly happen. However, keep motivating them to be free to come up with possible solutions to problems they could be going through. Apart from knowing how they operate and think, they will also appreciate you for enabling them to develop skills for problem-solving.
Definitions of Source Code Escrow, Source Code, and Escrow
In the computing world, all precious source code of an important software passes through what is termed as source code escrow, which simply means that the source code is deposited with the participation of a third party escrow agent. In programming of softwares, normally a coding language is designed by the programmer and this is called the source code, which is further translated by a compiler or assembler into a binary machine code to make the code decipherable by the computer. An escrow agent, who is usually a lawyer, is a person, representing as third party, who holds the source code for safekeeping while a transaction is taking place or finalized or in cases where there’s need to resolve a disagreement with respect to the design or ownership patent of a software. It is the software developer that usually requests for an escrow to protect and maintain their softwares.
Differentiating Licensee to Licensor
In cases where the company (licensor), who franchised the software, files for insolvency or fails to maintain or update the software as agreed upon in a software license agreement, the software source code will be released back to the licensee.
The Need for Escrow
Many companies, who are dependent on a licensed software, do make a point of continually using it and maintaining it even if the licensor is unable to do so. To be able to use the software continuously, the company can obtain a copy of the most updated version of the source code. Therefore, a solution to this is to apply for an source code escrow services.
Escrow and Its Agreements
To apply a source code escrow, a software licensing agreement is employed and agreed on involving three parties: one or several licensors, one or several licensees, and the escrow agent.
These are the stipulations in source code escrow agreements.
That the software source code be equally, as well as independently, maintained with the documentation, software tools or specialized hardware.
Requiring the licensor to create updated versions of the software in specific intervals invoking the escrow.
Instruct that the software source code be released to the licensee by the escrow agent on the following conditions: bankruptcy of licensor, cancellation of a software development project, unwillingness of licensor to meet the contractual obligations.
After the release of the software source code, delineating the rights, obtained by the licensee, to modify the software for the purpose of correcting errors or to continue independent development of the software.
Specify clearly the duties of an escrow agent which involves custody and verification of the stored source code software if it is readable to a computer.
There is also a stipulation called non-compete clause which disallows the licensee from hiring the licensor’s employees after the release of the software.
And finally, the fees to the escrow agent.
Who Can Qualify as Escrow Agents
Normally, a notary lawyer plays the role of escrow agent, but in recent developments even museums, archives, and software communities have been solicited to be one.
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