LegalMindsTV Interview: Peter Rothberg of Duane Morris LLP Discusses How Entepreneurs Can Build a Foundation for Growth and Success
Peter Rothberg, a partner at Duane Morris LLP, recently sat for an interview with LegalMindsTV to discuss the broad range of legal issues which impact entrepreneurs.
According to Rothberg, the challenges of forming and growing an entrepreneurial venture are formidable – particularly in such a challenging financial market where funding is tight and exits are few and far between. However, he explains there are many things an entrepreneur can do to build a foundation for growth and success, starting with the proper business structure to limit financial liability and help position the company to weather any circumstance.
In addition to the proper corporate structure, Rothberg discusses why every entrepreneur should have a business plan to help build a strong foundation. And contrary to what many believe, it’s real value is not for presenting to investors. According to Rothberg, “the consensus of the venture capitalists that I know would tell you that the business plan is not for them, the business plan if for the entrepreneur.”
In his interview, Rothberg also delves into other essential issues which impact the entrepreneurs ability to make their vision a practical reality, including: sources of capital, protecting intellectual property, managing finances and liquidity, reducing tax liabilities and how to protect co-founders when a partner leaves the team.
While Rothberg provides a strong framework for building a business, he also is quick to remind clients and other attorneys advising entrepreneurs that “the entrepreneurial mission is something that does not have a set track to it.”
“Things change,” says Rothberg. “Things that you thought were going to happen tend not to happen or they don’t happen as rapidly as you thought. It takes longer to get the financing that you need than you thought it would and your partners might not always be there with you and be as fully supportive as you thought they were going to be.” Adds Rotheberg, “So you have to be flexible and you have to expect the unexpected.”
Published by LegalMinds Media LLC, LegalMindsTV (www.legalminds.tv) website features exclusive video interviews with leading legal experts focused on key issues in securities regulation, intellectual property, corporate finance, litigation, private equity, environmental, real estate and tax law, etc. In addition to providing timely content for corporate executives, board members and their counsel, LegalMindsTV offers a unique marketing platform for top attorneys and law firms.
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