197: The Fine Print Fiasco: Legal Pitfalls That Can Haunt Founders with Matt Kirmayer

Sophie Alcorn Podcast

Matt Kirmayer has more than 30 years of experience in the emerging company and venture capital ecosystem, including numerous seed and venture financings for technology and life science companies. Matt represents emerging technology companies and the investors who fund them across a range of industries, including software, educational technology, digital media, social media, artificial intelligence systems, robotics and life sciences. Active in the technology and investment communities in Silicon Valley and the East Coast, Matt often works with emerging companies as their outside general counsel, managing legal, financial and operational issues, from formation and angel and venture capital investment through exit.

Our conversation with Matt sheds light on the essential role of legal counsel in supporting the startup journey. Drawing on his extensive New York corporate law background, Matt discusses how he guides entrepreneurs through the complex landscape of fundraising and legal regulations, acting as a strategic advisor and protective guide. We touch upon the common misconceptions startups have, particularly around stock options and financial instruments like SAFEs. Matt emphasizes that while legal education is vital, it should serve to encourage meaningful dialogue with legal professionals rather than replace them, and he shares how he prepares students at Carnegie Mellon University for these critical interactions.

In this episode, you’ll hear about:

• Importance of legal counsel for startups and navigating fundraising complexities.

• Common misconceptions about stock options and financial instruments like SAFEs.

• Foundational legal considerations such as incorporation and equity splits.

• Emphasis on open communication for international founders in the U.S.

• Significance of 83B elections and tax strategies for startups.

• Role of legal education in fostering meaningful dialogue with professionals.

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Supporting Resources:

Linkedin - https://www.linkedin.com/in/mkirmayer/

Website - https://www.pillsburylaw.com/en/lawyers/matt-kirmayer.html

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