Covenants are legal promises usually contained in a contract. For example, in a financing, a startup may agree to a negative covenant, whereby it promises not to incur additional debt without permission. The penalties for violation of a covenant may vary from repairing the mistake to losing control of the company.
ACCELERATE YOUR STARTUP LAW KNOWLEDGE!
Startup Law doesn’t have to be a confusing maze. The practical knowledge in "Acceleration: What All Entrepreneurs Must Know About Startup Law" will help you make the smart decisions to protect your startup and its future. Available in ebook and hardcover.
Buy the Book on Amazon