Monday, April 25, 2011

Out and About

Hey folks -- I'm getting ready to head down to the RTP area for the annual CED Venture Conference.  This year it is in downtown Raleigh, instead of Pinehurst, and looks to be bigger and better than ever.

So, if anyone happens to be in the area on Wednesday or Thursday, send an email or skype me and we can definitely meet up for coffee and/or beer.

One other thing, Zack Mansfield, a good friend with Square Roots has a new blog that is off to a great start.  It looks like he is going to be doing some pretty interesting video interviews with entrepreneurs in the South East.  You should check it out and consider signing up.  Here's the link again.  Also, if you are an early stage start up, talk to Zack.  He knows everyone and the Square Roots program is the best price possible -- free. Click Here to Read More..

Tuesday, April 19, 2011

Securities Law FAIL

Longtime viewers of this blog will recall that one of my favorite memes is -- "Try Not to Violate Securities Laws."  It never ceases to amaze me how easily and often folks violate securities laws.  It is a war of information, people, and we need to spread the truth.

Here is a sign that my good friend, Fred Bryant (@WealthForgeFred), found on Church Hill in Richmond, VA a little while ago:

Now, while I'm sure that the fine gentleman (gentlewoman?) that posted this advert is an exceptional snow blower, the problem is that this is what we lawyers call a "general solicitation."  And that is a no-no.

Once you have made a general solicitation, you have disqualified yourself from most "private placement" exemptions under state and federal securities laws.  And, without an exemption, pretty much the only way you can do an offering is through a registered IPO.  Moreover, get this, since you made a general solicitation before you had your IPO registration statement on file with the SEC, it will at least delay, if not put an end to, your IPO.

While there has been some recent speculation that the SEC may ease up on the general solicitation prohibition, this is a long way off and the prohibition still stands.  So, please people, Try Not to Violate Securities Laws. Click Here to Read More..

Monday, April 18, 2011

Someone Wrote a Book About Me!

(Well, maybe not a whole book, but at least a short chapter...)

Hey folks!  I know it has been a little while since I've posted anything.  I typically take a break over the winter holidays, but have really let it go for too long.  However, the good news is that I have built up a great big list of post ideas and topics that I'll be working on over the next few weeks.  So there should be a lot more to come...

In the meantime, I wanted to give you a quick heads up about a pretty cool thing.  You may have heard of Gary Vaynerchuk -- author of the New York Times bestseller "Crush It," wine expert and social media master.

He has a new book out called "The Thank You Economy."  Very loosely, it is about how, in today's world, businesses may actually be better off by leaving a little on the table, as opposed to extracting every last nickel.  The main thrust is that in our new normal, always-networked, social-graph driven world, things like a good business reputation, honesty and fair dealing will outlast a given transaction and live with you, potentially forever.  It is actually in your best business/financial interest to deal with people fairly or even favorably, as your reputation will live on in your social graph.

The book is a great read and I highly recommend you pick it up (here it is on amazon).  But what is perhaps the coolest thing for me is that Chapter 13 is called -- "Hank Heyming: A Brief Example of Well-Executed Culture and Intent."  For the newcomers, that's me, Hank Heyming.

I hardly know Gary Vee -- I only met him in person once, at his "secret wine party" during SXSW 2010 (at the Speakeasy) -- and I doubt he remembers me.  However, through some random chance and some intersections in our mutual social media networks, I got to be a part of his latest book.

The chapter focuses on some of the things I have been doing to help nurture the entrepreneurial ecosystem here in the South East.  It also touches on my belief that the last thing a startup needs to be doing is paying a lawyer for basic legal needs.

Here is a link to a SlideShare of the chapter (it is a photocopy so you will need to expand the viewer).  The chapter is only a few pages long and is a quick read -- you should definitely check it out and then go out and buy the whole book.  (For the record, I am only including the photocopy temporarily -- the publisher has promised to make my chapter the one available for free on the book's website, and when they do, I will redirect.)

Anyway, thanks for putting up with a little self promotion.  I'm actually planning to do a longer blog post later this week that will go into more detail on my thoughts on startups and legal fees. Click Here to Read More..
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Dividends and Preferences by Hank Heyming is licensed under a Creative Commons Attribution 3.0 United States License.