Keeping It Legal: Covering Your Bases and Bottom Line
In Episode 2 of the Persevere Podcast, Patty welcomes Todd Taylor, Checkable Medical’s corporate attorney and co-founder and partner of Avisen Legal in Minneapolis, Minnesota. Todd and his team of business lawyers specialize in providing legal services for entrepreneurs and business owners. Todd himself specializes in corporate governance, contracts, and financing.
Patty and Todd discuss how business leaders can benefit from quickly developing an open, honest, and trusting relationship with a lawyer. A partnership with a good lawyer who understands the company’s goals will help guide all legal decisions of the business and prevent issues from turning into problems. Patty and Todd share stories and relate to some of the common mistakes founders make when establishing a company. They have found that cheap can be expensive; not taking the time to calculate legal decisions can be costly. Both agree taking the time to evaluate decisions with your lawyer will pay off for the company in the long run.
Patty opens up about her experience in fundraising for Checkable Medical and her past ventures. She has feared low valuations and dilution but has gained great perspectives and confidence from Todd. Todd has seen companies fold because they chose not to accept money, so he coaches entrepreneurs to not worry about dilution as much as what can be done with the money raised. Funds raised can lead to faster increases in company valuation. In Patty’s case, funds raised for Checkable Medical helped her hire a great team, thus increasing output and company valuation.
You can visit Avisen Legal’s website at avisenlegal.com and contact Todd at 612-325-5036 or firstname.lastname@example.org.