Re:TLDR Stock Options
by AlexandrB on Thursday June 01, 2017 @07:18PM
(#14465856)
I thought private stock transactions were subject to board approval, or is that just Canada?
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Re:TLDR Stock Options
by JumpCrisscross on Friday June 02, 2017 @12:40AM
(#14467495)
It depends on the company. Some companies are quite liberal with transfers. If you have a bona fide offer, they'll amend the cap table. For others, my having a relationship with the founder or Board is critical. A good starting point for American companies is is their Certificate of Incorporation. If you exercised options, the Restricted Stock Purchase Agreement should also contain terms, e.g. the company's transfer policy or right of first refusal.
I have never heard of a Canadian company looking to raise capital structuring itself under Canadian law. Commonly, you'd have a Canadian law subsidiary wholly owned by a Delaware corporation.
Disclaimer: I am not a lawyer. Hire a lawyer before selling private stock. Do not take investment or legal advice from my Internet comments; they are neither.
There's an EU startup that's trying to create a blockchain based market for shares of pre IPO startups:
https://markets.funderbeam.com/market
Re:TLDR Stock Options
by austenallred on Thursday June 01, 2017 @11:46PM
(#14467278)
Depends on the terms. In most startups board can only match the offer.