Dentons, in partnership with the Kairos Society, has launched "Fully Vested" a new podcast which tackles legal and commercial issues facing founders and investors in the start-up, venture capital and venture technology community. 

Episodes 1, 2 and 3 are available now on Spotify, Apple Podcasts and Podbean.

Episode 1: Equity funding for start-ups

How do start-ups get money? We explore the equity fundraising life-cycle and look at:

• the sources of equity capital: "friends and family", angel investors, "institutional" and "corporate" venture capital; 
• forming a company with investment in mind: key documents at company formation and other documents important as the start-up raises equity capital; and
• introduction to term sheets and some of the key provisions which investors might require as a condition to their investment

Episode 2: Founder vesting

What does "vesting" mean in the context of shares held by founders? How can founders be better equipped to handle conversations with investors when vesting is a negotiation point? We explore:

• provisions relating to the vesting of shares held by founders, demystifying these common but often contentious and complex provisions; 
• how vesting provisions are typically structured and the protection they can provide founders as well as investors; and
• jargon-busting terms that founders might come across when negotiating these provisions with investors: "good leaver" and "bad leaver", "cliffs", "straight-line vesting", "accelerated vesting", "milestone/KPI vesting".

A link to the vesting schedule matrix which the team discuss in the podcast is here.

Episode 3: Introduction to employment law for start-ups

In this episode we welcome guest Michelle Lamb, employment lawyer at Dentons, who joins us to look at some of the key employment law considerations for start-ups and their founders, including:

• employment agreements between a start-up, its founders – yes, founders are employees too! – and its employees;
• what employment contracts should look like and what they should cover;
• the legal status of directors and the key differences between executive directors, non-executive directors and "advisory boards", and the arrangements a start-up should have in place with each;
• what employment-related policies and procedures a start-up is required to have in place, and any other "nice to have" but not essential policies as the company grows; and
• what happens, and what to do, when a start-up wants to end an employment relationship.

Browse Dentons' UK Employment Law Hub here.

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