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I hope you find this article helpful, but please remember this is shared as a helpful analysis for educational purposes and is not legal advice — always consult your attorney before making any investments!

TL;DR

  • Unfortunately, Knowledgeable Employees can only invest in their employer’s fund, not just any startup or…

Hearing stories about the 2000 & 2008 recessions are always interesting but seem like the telling of a legend. Sure, I lived through both, but I was 6 and 14 years old respectively. I never felt the impact of a financial downturn in a professional capacity. …


The US economy unquestionably relies on global markets and international business. Especially with the ability of technology to eliminate international borders and barriers to entry, businesses are forced to consider trends, competitors, and customer behavior across the world.

However, taking a global approach to conducting business complicates things, particularly regarding…


Arbitrage is a pretty standard term in business, particularly in finance and investments. However, arbitrage is also a fairly standard strategy when addressing regulatory oversight. Despite past success, this method of obtaining approval may be inconsistent and provide a negative connotation depending on the circumstances.

What is Regulatory Arbitrage?

In…


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I was having coffee the other day with a friend from another venture capital firm. One phrase came up that I’ve continued to think about: operating by proxy.

One common responsibility of junior venture capitalists is supporting portfolio companies with tasks such as research, identifying strategic partners, acquiring customers, or…


Income Share Agreements (ISAs) are an interesting concept offering an alternative to traditional debt or financing options. ISAs are a contract stipulating an individual or entity will receive a sum of cash and in return pay a percentage of future income, usually over a fixed period of time.

Would you…


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As I mention in my last article titled Volcker Rule Part I: What is the Law and Why are PE and VC Funds Upset?, the Volcker Rule prohibits financial institutions from conducting proprietary trades and acquiring an interest in private equity funds. The former addresses activity surrounding credit default swaps…


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No great legislator (or, let’s be honest, any legislator) will let a historical economic crisis slip by without making their mark on financial regulation. The “Great Recession” resulted from illicit banking practices relating to credit default swaps, creatively packaged collateralized debt obligations (CDOs), and generally appalling standards for offering and…


Some of my closest friends from law school, as well as students I barely know, really want me to stop talking about VC. So, naturally, I figured I would write an article on venture fund formation and compensation structure.

It seems like a very small percentage of people in the…


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Do you ever feel really confident about your understanding of a certain subject matter.. then realize how nuanced the space is and understand how little you actually know? That was me after diving into Incentive Stocks Options (ISOs) and Non-Qualified Stock Options (also called Non-Statutory Stock Options or NSOs).

Fundraising…

Trey Calver

Startup & VC Attorney @ Michael Best & Friedrich | Angel Investor @ The Mango Group | Founder and Advisor @ HSAD Network | OSU Law Alum | Opinions my own

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