Entrepreneurial

Legal steps to closing a business

– Stephanie Rabiner is a contributor to FindLaw’s Free Enterprise blog. FindLaw is a Thomson Reuters publication. This article originally appeared here. –

Unfortunately, closing a business isn’t as simple as locking the doors and laying off employees.

An often drawn-out process, a business owner must follow a long list of sometimes complicated legal steps.

So before you get started on the checklist below, be sure to assemble a dissolution team. Closing a business may actually require an accountant and/or a lawyer.

Step 1: Vote

If there is a written partnership agreement or articles of incorporation, be sure to follow voting procedures. Dissolutions often require a 2/3 vote.

from MediaFile:

What’s cooler than a Facebook conference? A Sean Parker after-party.

When somebody who was played by Justin Timberlake in a Hollywood movie decides to throw a party, the expectations are pretty high.

And Sean Parker, the man behind free music-sharing service Napster and an early Facebook advisor, clearly likes to give people what they want.

Parker, who is an investor in the music service Spotify, pulled out all the stops in a post-Facebook developers conference party on Thursday that was a cross between a backstage concert pass and Trimalchio’s feast.

Manning up in Silicon Valley

– Connie Loizos is a contributor for PE Hub, a Thomson Reuters publication. This article originally appeared here. The views expressed are her own. –

This week, Marc Andreessen announced that Ning, the social networking platform company he co-founded in 2004 and that went on to raise nearly $120 million, had “agreed to merge” with the lifestyle blog network Glam Media. Yet few believe it will be a marriage of equals.

“Merger” was almost uniformly put in wink-wink quotations in press accounts of the deal. Outside investors didn’t buy it, either. “My guess is that Glam thinks it is gaining some credibility by adding Andreessen to its board, and in return Glam is putting Ning out of its misery,” said one VC who asked not to be named.

Twilio raises second microfund from angels McClure, Conway

– Alastair Goldfisher is a contributor for PE Hub, a Thomson Reuters publication. He was also part of the judging panel at the Twilio Conference with Paul Singh of 500 Startups and Manu Kumar of K9 Ventures. This article originally appeared here. –

This week at the Twilio Conference in San Francisco, 500 Startups founder Dave McClure announced the launch of a second Twilio MicroFund of $250,000 to invest in companies that are based on Twilio’s Connect platform.

McClure and Ron Conway of SV Angel will each invest $125,000 in the fund. McClure will manage the investments, with Twilio serving as an advisor.

TechStars raises the ante in the startup accelerator race

– Mark Boslet is a contributor for PE Hub, a Thomson Reuters publication. This article originally appeared here. –

Interest in seed stage incubators, accelerators and entrepreneurial funds continues at full bore, with companies, firms and universities all getting into the act.

Vodafone early this month opened the doors of its Silicon Valley research center to startups with the hope of encouraging faster innovation on its network.

Blackstone looks to advise startups

– Luisa Beltran is a contributor for PE Hub, a Thomson Reuters publication. This article originally appeared here. –

The Blackstone Group wants to advise, not buy, Silicon Valley startups.

So reports Portfolio.com. Blackstone has long had an advisory practice, but the New York private equity firm is known more for its mega buyouts. For example, Blackstone was part of the investor group that acquired Freescale Semiconductor in 2006 for $17.6 billion and also acquired Hilton Hotels in 2007 for $26 billion.

But Blackstone recently hosted an “inaugural” tech forum in Silicon Valley that was intended to match up startups, investors and industry experts, Portfolio.com reports. Ivan Brockman, a Blackstone MD who is based in Menlo Park, admits that Blackstone isn’t known for advising tech companies.

Exclusive: Small business backs Obama, not Democrats: poll

The Obama administration has hurt small businesses but the president still leads in backing among current 2012 election candidates, a new survey found.

Some 63 percent of small businesses said the administration’s policies had been damaging to small business, while only 16 percent indicated they had benefited, according to the poll by Manta, an online community that promotes small business. Some 67 percent were highly unsatisfied with government, with only 2 percent highly satisfied.

Meanwhile, the survey, which queried more than 2,300 small business owners online between August 12 and 29, showed President Obama as the candidate with 21 percent of support, followed by Texas Governor Rick Perry, a Republican, with 14 percent; Texas U.S. Representative Ron Paul, also a Republican, with 11 percent; and Republican former Massachusetts Governor Mitt Romney, with 9 percent.

Are patent reforms good for small businesses?

– Cynthia Hsu is a contributor to FindLaw’s Free Enterprise blog. FindLaw is a Thomson Reuters publication. –

President Obama recently signed into law the America Invents Act, a patent reform legislation that does away with the old “first to invent” rule. What does the patent reform mean for small businesses?

Most notably, the new legislation pushes Americans toward a “first to file” system, meaning that those who file for a patent first will get awarded the rights.

Stanford entrepreneur: If you’re 20 and you haven’t started a $1 million company, “you’re kind of a failure”

– Connie Loizos is a contributor for PE Hub, a Thomson Reuters publication. This article originally appeared here. –

Recently, New York magazine featured Feross Aboukhadijeh in a piece titled “Bubble Boys”. Aboukhadijeh is a Sacramento-born, 20-year-old computer science student at Stanford who has been characterized as among the school’s most heavily recruited students by a course adviser. The piece suggested he may ultimately be among those geeks to succeed the Mark Zuckerbergs of the world.

While perhaps a stretch, it’s easy to see Aboukhadijeh’s appeal. A year ago, Aboukhadijeh created a small media sensation with YouTube Instant, a site that invites visitors to scan YouTube videos in real time, and which Google was at one point interested in acquiring – along with Aboukhadijeh.

VC firm to form “Jedi Council” of entrepreneurs

– Joanna Glasner is a contributor for PE Hub, a Thomson Reuters publication. This article originally appeared here. –

Menlo Ventures’ newest managing director, Shervin Pishevar, is getting off to a fast start.

The serial entrepreneur turned Internet VC announced that his firm has formed a new early stage investment vehicle, the Menlo Talent Fund, which will fund rounds up to $250,000 in promising startups. As part of the effort, Pishevar told attendees at San Francisco’s TechCrunch Disrupt conference this week, the firm will be forming a “Jedi Council of incredible entrepreneurs,” known as the Menlo Founders Council, to work with startups.

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