Ensure the Business Has a Solid Foundation, Positioning It for Growth and an Eventual Exit
Examples of how Turinas & Bird has helped technology businesses build a structure for long-term success:
- Form / structure agreements among owners
Example: If there are multiple owners, can the exit of one threaten the continuance of the entire business?
- Procure / develop technology
Example: Does the business have the contractual flexibility to go in different directions with the technology in the future?
- Structure employment arrangements / policies
Example: Do you have consistent agreements for all of your executives?
- Deal with suppliers and establish supply chains
Example: Are critical legal issues, including liability risk, handled consistently? Are critical suppliers adequately insured?
- License / sell to customers
Example: Are the boundaries of your business’ liability to clients well enough defined?
- Protect intellectual property
Example: Is the business protected against valuable know-how “walking out the door” with a former employee?
- Lease real estate
Example: Will you need to negotiate or terminate the current arrangement so your office space can accommodate future growth?
- Maintain corporate governance
Example: Is the corporate structure well-positioned for an ultimate IPO?