Corporate Venture Capital: Structuring Concerns for Investors and Startups
Objectives of CVC vs. Pure Venture Capital, Term Sheets, Key Provisions of Investment and Shareholder Agreements
A live 90-minute CLE webinar with interactive Q&A
This CLE webinar will provide commercial finance and private equity counsel with a review of corporate venture capital (CVC) investments in startups. The panel will discuss the differing objectives of corporate vs. pure venture capital investors and how those objectives are reflected in deal points like management control, sharing of information and technology, and exit strategies. The panel will also discuss the integration and management issues facing startups in accepting corporate venture capital.
- CVC vs. pure venture capital
- Motivations of CVC: innovation, new technology for existing enterprise
- Motivation of a start-up: CVC may offer longer-term financing, expertise
- Issues for CVC investor and start-up
- Management control
- Sharing and ownership of information, intellectual property
- Employees: non-poaching concerns
- Exit strategy
- Process and documentation
- Term sheet/letter of intent
- Investment agreement
- Shareholder agreement
The panel will review these and other crucial issues:
- How to do the objectives of the CVC investor differ from those of the pure venture capital investor?
- What are some management concerns of the start-up founders in looking at potential CVC investment?
- How should the parties address the treatment of information and intellectual property after exiting the CVC investment?
- What are the key documents in a CVC transaction?
Cindy L. Dole
Morgan Lewis & Bockius
Cindy L. Dole collaborates with clients at the intersection of technology, intellectual property (IP), and finance. In... | Read More
Cindy L. Dole collaborates with clients at the intersection of technology, intellectual property (IP), and finance. In her technology-based transactional practice, she advises on matters including corporate partnering, open source software strategy, distribution and sales arrangements, cloud computing, and other electronic commerce (e-commerce). Additionally, Cindy helps companies develop and implement IP strategy in connection with financings, mergers, acquisitions, and initial public offerings (IPOs).Close
E. John Park
Morgan Lewis & Bockius
E. John Park focuses his practice on debt and equity offerings, public securities offerings, recapitalizations, and... | Read More
E. John Park focuses his practice on debt and equity offerings, public securities offerings, recapitalizations, and mergers and acquisitions (M&A). He assists clients at every stage of the business cycle, from initial company formation, venture capital financings, and M&A, to initial public offerings (IPOs), public company reporting, and general corporate counseling. In addition, John represents acquirers and targets in public-private and private-private business combination transactions.Close
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