ubi i/o: Week 5 Recap

Two distinct events marked the preceding week here at ubi i/o headquarters.

The first one, the workshop on Incorporation and Taxation, took place on Tuesday morning here at UBIFRANCE. On that occasion we had to pleasure to welcome in our office:

  •  Francois Laugier, Partner @RMKB, who specializes in Tech Business affairs
  • Sonia M. Agee, Partner @RMKB, with expertise in taxation. Sonia is licensed to practice in CA, NY, MA, DC & WA

Francois and Sonia outlined the best strategy for determining the appropriate company structure, and helped companies understand the US tax system. More specifically, our participants had the opportunity to learn about:

        • Difference between the corporate and the Limited Liability Corporation (LLC) structure

 

   

      • US tax system overview and differences with the French system

 

     

      • A tech company’s potential tax liability and how to comply

 

     

      • How to structuring technology licensing deals and how to report them for accounting purposes

 

     

      • VC funding compliance basics

 

    Here are some quotes from our panelists:

        • “People want to make sure you are commited; incorporating is a proof of commitment.”

 

   

      • “Incorporating sooner rather than later offers considerable protection with virtually no downside.”

 

     

      • “As a foreign company here you don’t carry the same weight in the meeting. That’s why ubi i/o is here to give you a minimum of credibility.”

 

     

      • ” It’s fairly easy to convert a LLC. to an Inc., but the other way is much more complicated.”

 

     

      • “Amazon, Google, GE have some LLC’s but they are usually associated with businesses in the USA.”

 

     

      • “If you want to raise Venture Capital or offer employees stock options, a corporation is a better vehicle than a LLC.”

 

     

      • “Investors want to make sure they can controll all of the corporation in the USA.”

 

     

      • “If you want a top VC to invest in your company you have to be an American company.”

 

     

      • “You have to be sure everyone around you is excited to build the product. Offer stock options and offere these people this lottery ticket they are looking for”.

 

     

      • “Give US employees some equivalent of options in the French parent company if you maintain the parent headquarters in France.”

 

     

Later in the week, on Wednesday June 4th, Pitchforce hosted a special edition ubi i/o startup pitch night. Five of our participants – Antidot, SublimeSkinz, Vade Retro, ContractLive and the Cosmo Company – had the opportunity to pitch in front of a great pannel of VCs and angels:

  • Mitchell Kertzman: Managing Director @Hummer Winblad Venture Partners
  • Matt Bornstein: Investor @Blumberg Capital
  • Paul Twombly: Angel Investor @Keiretsu Forum, Band of Angels and Angel Forum
  • Eric Ferraro: startup attorney, former startup founder, CEO and Angel investor

These 5 promising ubi i/o companies were a great success in engaging the audience.   The panelists gave a lot of positive feedback, and as a result, great opportunities emerged!

By | 2014-06-11T09:18:01+00:00 June 11th, 2014|News|0 Comments

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