Mark Haddad, partner at Foley Hoag LLP., Presentation
Is your business worth what you think it is? …Really? Then why did you agree to that term sheet? When you sought start up funding did you consider the terms potential buyers of your business would require?
Think the details like Convertible Debentures, full ratchet or weighted average, and anti-dilution are just legal mumbo jumbo that can be ignored?
Well you need to think again. Term sheets and valuation are essential at the start of your business and the exit; they define in black and white what a business is really worth.
We will have three experts (an attorney, an entrepreneur and an investment banker) provide their insights and lessons learned about term sheets and valuation strategies that work (and do not work) for the entrepreneur.
Linda Smith, founder and principal at Ceres Technology Advisors, Inc. (cerescom.net), has 20 years experience in marketing, product management, and sales in the photonics industry - including commercializing technology and bringing products to market with companies in seed stage through harvest. At Ceres, she provides strategic planning, business development, marketing, and M&A advisory services to buyers and sellers of small and middle market firms and to entrepreneurs and investors building early stage ventures. She received BS degrees in optics and mathematics from University of Rochester and an MBA from Babson College. Linda is an associate member of the American Society of Appraisers.
Mark Haddad is a partner at Foley Hoag LLP. At Foley Hoag's Emerging Enterprise Center, Mark represents a broad range of startup and early stage companies, primarily in the high tech, software, clean tech and life science industries. Mark advises clients on a wide variety of legal issues, including corporate formation, founder arrangements, seed, angel and venture capital financings, mergers and acquisitions, joint ventures and other strategic transactions, as well as general corporate matters. He also represents venture capital and angel investors in portfolio investments with start-up and other companies. Mark is a graduate of Harvard Law School and has been listed in Boston Magazine as a Massachusetts Super Lawyers "Rising Star" for each of the last five years.
Matthias is the co-founder of zthere (Cambridge), a mobile imaging collaboration startup. Matthias was previously co-founder and CEO of RedShift Systems (Woburn), a thermal imaging venture; and before that, co-founder and CEO of Aegis Lightwave (Woburn), the leading supplier of telecom optical monitoring systems. While building these companies Matthias and his teams raised over $40M in angel, venture and strategic financing. Matthias's earlier background is in machine vision systems. Matthias received his BS Engineering from Harvard, and MBA from MIT Sloan. He is co-inventor of 9 US patents.
John Ellis founded the optical engineering company Optics For Hire (www.opticsforhire.com ) in 2002. The firm employs engineers in the US, Ukraine and Belarus and provides electronic and optical design and prototyping services for dozens of firms. John’s most recent experience with term sheets came in December 2009 when his firm purchased the IP and assets of Actuality Systems a pioneering 3D display company.