Venture capital: Series A preference share financings — why you should use the BVI
New business founders are entrepreneurial, with dazzling ideas and products: quite the opposite to us lawyers (at least that’s what they think). However, while a founder may have come up with a brilliant invention, he or she may be totally unfamiliar with even the most basic corporate concepts. They may not have ever formed a company, held shares or acted as directors before.
So when confronted with the prospect of forming a company, it is natural that founders may look to their peers and predecessors and try to replicate previously used corporate arrangements. ‘If it worked for them, it can work for us, right?’
In some jurisdictions, it is possible to incorporate a company over the internet very quickly, even without the involvement of lawyers. While this may save costs at the outset — which is, of course, crucial to founders — it is important that the type of company and jurisdiction that is used will offer excellent flexibility for: (i) decision making; (ii) future funding options; and (iii) expansion…
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Norwich Pharmacal relief — obtaining information relating to a BVI company from its registered agent
This briefing note deals with the circumstances in which and methods by which non-public information about a BVI company can be obtained by a third party.
The aim of this update is to focus on current legal and regulatory developments affecting financial services institutions in Jersey.