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No, it was a C-corp. (Again, we were a VC and needed the different classes of stock.) The example is that merely being a C-corp wasn't sufficient. Again, exp
by sachinag 18y ago
No, it was a C-corp. (Again, we were a VC and needed the different classes of stock.) The example is that merely being a C-corp wasn't sufficient.
Again, experienced startup lawyers would have alerted us to this. Mere corporate attorneys would not, and did not, contemplate the edge case I outlined.
Look, if you're happy to bootstrap forever, Chicago's great. But if you even have an eye on VC at any point, GTFO and go to the coasts.
- tptacek 18y agoFor the record, I agree, and Chicago was an issue when we talked to VC back in '05.