CASH, STOCK, AND THE PROMISSORY NOTE ARE YOUR WAR-CHEST IN A STARTUP. Most startups are cash poor. To engage professional services (lawyers, accountants, patent lawyers), try using small amounts of stock or Promissory Notes. In my first company, my IP attorney accepted 1% of penny stock in return for his help, and did fabulously. At other times, usually in sight of a financing, I offered the Promissory Note with a kicker (to add value) for people’s time who were not inside the venture. These are valuable tools, and use them creatively.
linkedin post 2022-06-29 05:12:48
Nigel Fleming
September 21, 2022