Welcome to another edition of The Roadmap, an original ASBN series showcasing founders, CEOs, and business owners, who cover the idea of moving up the corporate ladder in the hopes of one day being able to monetize your enterprise. Today, host Ted Jenkin, Co-founder and CEO of oXYGen Financial at is joined by Robert Benson, a corporate lawyer at King & Spalding, to discuss the legal issues that have the greatest impact on the business world.
1. Mergers and Acquisitions
Benson began with the goal of achieving economic growth for the poor, but after working with business incubators and entrepreneurs, he realized he needed a more sophisticated skill set to assist the individuals he was currently supporting. His exposure and expertise allowed him to pursue a legal education, and he currently runs his practice out of New York.
2. Operating Agreements
When it comes to whether and when partners should sign employment agreements depend on how the business is structured. According to Benson, “there are particular types of business entities for which the agreement is unsuitable.” He further emphasizes that because the agreements are created with long-term goals in mind, they can be changed and signed at a later date. Adding that, “it’s a good thing that any agreement can be modified.”
3. Business development
According to Benson, the best method to help companies develop is to figure out how to inspire and urge present employees to be invested in the company. Which highlights the significance of comprehending business objectives and strategies. Whereas, most companies take the “shadow stock” approach, which outlines stock ownership without actually transferring control.
Benson claims, when raising money, “you need material to illustrate what your company does.” By establishing the right forms of documentation, they are able to accurately describe who you are, where you have been, and where you are trying to go. On the other hand, having a lawyer at your disposal can also help you decide which regulations are ideal for your company.
Take a non-disclosure agreement (NDA), for instance. This establishes a confidential relationship and has legal force. In cases when partners or firms are often exchanging sensitive information, Benson says he favors mutual NDAs since they safeguard both parties’ assets.
Which is similar to the staged delivery of information concept Benson highlights. “You will meet with people who are interested in your company, but maybe you won’t provide any exclusive information until you truly observe progression. Which is something you stage as the negotiation progresses.”