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	<title>Startup Lawyer</title>
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		<item>
		<title>Should Your Startup Close a Small Angel Investment Prior to Demo Day?</title>
		<link>http://startuplawyer.com/startup-issues/should-your-startup-close-a-small-angel-investment-prior-to-demo-day</link>
		<comments>http://startuplawyer.com/startup-issues/should-your-startup-close-a-small-angel-investment-prior-to-demo-day#comments</comments>
		<pubDate>Sat, 08 Jun 2013 00:47:43 +0000</pubDate>
		<dc:creator>Ryan Roberts</dc:creator>
				<category><![CDATA[Startup Issues]]></category>

		<guid isPermaLink="false">http://startuplawyer.com/?p=6878</guid>
		<description><![CDATA[Working to close a small angel investment prior to your incubator&#8217;s demo day usually falls somewhere between a moderate distraction and a huge pain in the asymptote. It&#8217;s not worth the effort to close during this time period for a small amount. While angel investors usually let startups set the terms (convertible note, priced round, [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Tech Wildcatters Pitch Day 2013</title>
		<link>http://startuplawyer.com/startup-lawyer/tech-wildcatters-pitch-day-2013</link>
		<comments>http://startuplawyer.com/startup-lawyer/tech-wildcatters-pitch-day-2013#comments</comments>
		<pubDate>Fri, 10 May 2013 14:55:43 +0000</pubDate>
		<dc:creator>Ryan Roberts</dc:creator>
				<category><![CDATA[Startup Lawyer]]></category>

		<guid isPermaLink="false">http://startuplawyer.com/?p=6863</guid>
		<description><![CDATA[Tech Wildcatters has just announced a new location for their 2013 Pitch Day. Pitch Day 2013 will be held on Thursday, May 23 from noon to 3pm (Dallas Texas Time) at the Granada Theater. Prior Pitch Days were held at the Magnolia, but due to demand, Pitch Day 2013 will be held at a larger [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Tech Wildcatters Announces 2013 Class</title>
		<link>http://startuplawyer.com/startup-lawyer/tech-wildcatters-announces-2013-class</link>
		<comments>http://startuplawyer.com/startup-lawyer/tech-wildcatters-announces-2013-class#comments</comments>
		<pubDate>Wed, 06 Mar 2013 14:14:01 +0000</pubDate>
		<dc:creator>Ryan Roberts</dc:creator>
				<category><![CDATA[Startup Lawyer]]></category>

		<guid isPermaLink="false">http://startuplawyer.com/?p=6822</guid>
		<description><![CDATA[Tech Wildcatters recently announced the 11 participants for their 2013 class. As usual, this class features participants from around the country. Read about the teams straight from Tech Wildcatters here or their coverage in the Dallas Morning News here.]]></description>
		<wfw:commentRss>http://startuplawyer.com/startup-lawyer/tech-wildcatters-announces-2013-class/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
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		<title>The Rolling Close</title>
		<link>http://startuplawyer.com/convertible-notes/the-rolling-close</link>
		<comments>http://startuplawyer.com/convertible-notes/the-rolling-close#comments</comments>
		<pubDate>Fri, 08 Feb 2013 15:28:42 +0000</pubDate>
		<dc:creator>Ryan Roberts</dc:creator>
				<category><![CDATA[Convertible Notes]]></category>

		<guid isPermaLink="false">http://startuplawyer.com/?p=6703</guid>
		<description><![CDATA[Unlike Series A Rounds, most seed rounds of financing don&#8217;t have all investors fund their investment on the same date. Sometimes it&#8217;s a matter of logistics for investors, but mostly it&#8217;s because the startup is continuously identifying and pitching potential angel investors to join in the seed round. The startup can&#8217;t afford to wait to [...]]]></description>
		<wfw:commentRss>http://startuplawyer.com/convertible-notes/the-rolling-close/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
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		<title>Price Cap Liquidation Preference Windfall Regulators</title>
		<link>http://startuplawyer.com/convertible-notes/price-cap-liquidation-preference-windfall-regulators</link>
		<comments>http://startuplawyer.com/convertible-notes/price-cap-liquidation-preference-windfall-regulators#comments</comments>
		<pubDate>Wed, 23 Jan 2013 05:16:15 +0000</pubDate>
		<dc:creator>Ryan Roberts</dc:creator>
				<category><![CDATA[Convertible Notes]]></category>

		<guid isPermaLink="false">http://startuplawyer.com/?p=6653</guid>
		<description><![CDATA[Most convertible notes have a price cap as a feature term. Depending on the delta between the price cap and the pre-money valuation of the qualified equity financing, the convertible note investors could receive a windfall in terms of liquidation preference. The Potential Problem Let&#8217;s say Series A investors invest at a pre-money valuation that [...]]]></description>
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		<slash:comments>1</slash:comments>
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		<title>Tech Wildcatters Spring 2013 Applications Are Open</title>
		<link>http://startuplawyer.com/startup-lawyer/tech-wildcatters-spring-2013-applications-are-open</link>
		<comments>http://startuplawyer.com/startup-lawyer/tech-wildcatters-spring-2013-applications-are-open#comments</comments>
		<pubDate>Thu, 06 Dec 2012 20:44:49 +0000</pubDate>
		<dc:creator>Ryan Roberts</dc:creator>
				<category><![CDATA[Startup Lawyer]]></category>

		<guid isPermaLink="false">http://startuplawyer.com/?p=6530</guid>
		<description><![CDATA[Tech Wildcatters, a Forbes Top 10 seed accelerator, is now accepting applications for the fifth cycle of their 12-week accelerator program which begins Spring 2013. The deadline for submissions is January 21, 2013. Comprised of 15 startups, the fifth cycle is set up to be the largest group of companies to go through the Tech [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Convertible Note Transaction Documents</title>
		<link>http://startuplawyer.com/convertible-notes/convertible-note-transaction-documents</link>
		<comments>http://startuplawyer.com/convertible-notes/convertible-note-transaction-documents#comments</comments>
		<pubDate>Tue, 17 Jul 2012 14:03:19 +0000</pubDate>
		<dc:creator>Ryan Roberts</dc:creator>
				<category><![CDATA[Convertible Notes]]></category>

		<guid isPermaLink="false">http://startuplawyer.com/?p=4191</guid>
		<description><![CDATA[It&#8217;s a common misconception that the &#8216;convertible note&#8217; is the only legal document used in a convertible debt financing. I often receive emails from entrepreneurs asking for a &#8216;sample convertible note&#8217; which I assume they are planning to use on their own. In addition to the convertible note, a startup will also need to draft [...]]]></description>
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		<slash:comments>1</slash:comments>
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		<title>Riding the Elephant</title>
		<link>http://startuplawyer.com/startup-issues/riding-the-elephant</link>
		<comments>http://startuplawyer.com/startup-issues/riding-the-elephant#comments</comments>
		<pubDate>Sun, 18 Mar 2012 05:17:37 +0000</pubDate>
		<dc:creator>Ryan Roberts</dc:creator>
				<category><![CDATA[Startup Issues]]></category>

		<guid isPermaLink="false">http://startuplawyer.com/?p=5430</guid>
		<description><![CDATA[Outsourcing your startup&#8217;s early technical development to a dev shop is like riding an elephant in a horseback polo match. You&#8217;re on a big beast, but your lack of agility will prevent you from scoring. With the surge in demand for technical co-founders, many startups have no choice but to contract with dev shops to [...]]]></description>
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		<slash:comments>7</slash:comments>
		</item>
		<item>
		<title>Convertible Note Interest</title>
		<link>http://startuplawyer.com/convertible-notes/convertible-note-interest</link>
		<comments>http://startuplawyer.com/convertible-notes/convertible-note-interest#comments</comments>
		<pubDate>Tue, 14 Feb 2012 04:55:46 +0000</pubDate>
		<dc:creator>Ryan Roberts</dc:creator>
				<category><![CDATA[Convertible Notes]]></category>

		<guid isPermaLink="false">http://startuplawyer.com/?p=5549</guid>
		<description><![CDATA[The principal invested via a convertible note should accrue interest, but the rate of interest should be lower than a typical non-convertible loan from an investor. The range I see is 5-8% for convertible notes. If a potential investor plays hardball and insists on a high interest rate (i.e., 10% or more), then you might [...]]]></description>
		<wfw:commentRss>http://startuplawyer.com/convertible-notes/convertible-note-interest/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Avoid Offensive Liquidation Preferences</title>
		<link>http://startuplawyer.com/preferred-stock/avoid-offensive-liquidation-preferences</link>
		<comments>http://startuplawyer.com/preferred-stock/avoid-offensive-liquidation-preferences#comments</comments>
		<pubDate>Tue, 10 Jan 2012 23:18:15 +0000</pubDate>
		<dc:creator>Ryan Roberts</dc:creator>
				<category><![CDATA[Preferred Stock]]></category>

		<guid isPermaLink="false">http://startuplawyer.com/?p=5478</guid>
		<description><![CDATA[In most equity financing rounds, an investor will ask for (and get) a term called a liquidation preference. A liquidation preference is the amount that must be paid to a preferred stock holder before any sale proceeds may be paid to the holders of common stock (i.e., founders, option holders, etc.). The amount of the [...]]]></description>
		<wfw:commentRss>http://startuplawyer.com/preferred-stock/avoid-offensive-liquidation-preferences/feed</wfw:commentRss>
		<slash:comments>4</slash:comments>
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