Last week in Part 1 of this two-part post I discussed what an 83(b) election is and walked through one particular situation in which someone should make that election (hint: if the company is currently valued at or close to nothing). In this installment, I’ll go through an example in which it doesn’t make good financial sense to make that 83(b) election. In a world where many founders, entrepreneurs, and contractors working for equity are told to automatically file the election, this is the scenario to really pay attention to. [Read more…]
What’s an 83(b) election, and when is it a good thing to do? Great question, and one every entrepreneur, founder, contractor, or anyone else trading work for equity should know the answer to. In this two-part post, I’ll first explain what the 83(b) election is, then I’ll walk through a situation where making the election makes good sense, and in the second installment I’ll walk through a situation in which making the election wouldn’t make sense (and some other considerations that might prevent you from making it). And with that, off we go.
A couple weeks ago I filed a trademark application on behalf of a client. Simple word mark, standard classes, everything done online via a TEAS+ application, no big deal. This week, I received a rather official-looking email from Trademarkia regarding filing deadlines. I thought it was problematic when I first saw it, then I did a little digging and I’m officially disgusted with the law firm behind it. [Read more…]
One of the most common questions I’ve heard from people thinking about incorporating their business is, “Should I incorporate in Delaware? I’ve heard it’s better.” Typically, the individual doesn’t have any information beyond that, “I’ve heard it’s better,” but everyone seems to have heard that. So the question is, what’s the advantage of incorporating in Delaware, and is that a reason for you to do it?
While there are myriad potential advantages to incorporating in Delaware, the big one is probably not what you’d think: The Delaware Court of Chancery. [Read more…]
I’m a little slow on the uptake on this one, but on January 4 on the official Library of Congress blog (yes, of course there’s an official Library of Congress blog), they posted an update regarding their ongoing joint effort with Twitter to archive and make searchable every tweet ever.
In their post, the LoC announce that they’ve successfully transferred (or will by the end of the month) the originally agreed upon archive of tweets from 2006 to 2010 to the Library, and also developed a system for archiving all tweets through the present, as they happen. All told, they’re currently sitting on 170 billion tweets. That’s kind of amazing in its own right, but it also has some really interesting legal and evidentiary implications. [Read more…]