November 15, 2011
Anthony Millin and Julie Reddig recently spoke about financing and employment issues facing early-stage companies. The program, sponsored by the StepWise Consortium and held at the Shady Grove Innovation Center, focused on what emerging and start-up companies need to consider when seeking financing and hiring and rewarding employees.
Anthony spoke about rewarding and incentivizing employees by providing them with equity in the company in various stock forms. He also addressed how companies can secure financing in the friends and family, angel investing and venture capital financing rounds through the use of convertible notesand preferred stock. He discussed the three key levers of negotation for a company during financing: the value of the company, rights and protections.
Julie discussed the importance of correctly classifying workers as either employees or independent contractors. She reviewed the IRS "Right to Control" test and the Maryland DLLR "ABC Test" used by governments to determine worker classifications.
Anthony Millin is is a business attorney at Lerch, Early & Brewer in Bethesda, Maryland with more than 15 years of experience working in and with start-up and emerging companies. He focuses his practice on equity and debt financings, mergers and acquisitions, joint ventures, and general corporate matters.
Julie Reddig is an employment attorney at Lerch, Early & Brewer who represents management in matters and disputes regarding employment and the workplace. Her practice includes helping companies design policies, procedures and employee handbooks that comply with the law.
