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, according to Peter Rothberg, a partner at Duane Morris LLP, 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.”

CONTINUE READING SUMMARY (Click to Expand/Collapse)

View and download a PDF transcript of the full interview here.

_____________________________________________________________________________

ATTORNEY INFORMATION

Peter W. Rothberg
Partner, Duane Morris LLP

Peter W. Rothberg practices in the area of corporate law with a focus on corporate securities, venture capital, mergers and acquisitions, financial transactions and digital media company representation. Mr. Rothberg serves as outside general counsel to venture capital funds and to private companies involved in a variety of industries, particularly in connection with financing and acquisitions transactions, including venture capital and private equity fund investments in such companies, private placements of securities, bridge financings, IPOs and public and private mergers and acquisitions. He also represents a life insurance premium finance agency in matters related to regulatory issues as well as lending and borrowing transactions.

Mr. Rothberg is a graduate of Georgetown University Law Center, where he was a member of the editorial board of Law Policy in International Business, and a summa cum laude graduate of Bowdoin College, where he was a James Bowdoin Scholar.

FIRM INFORMATION

Evolving from a partnership of prominent lawyers in Philadelphia a century ago, Duane Morris now has offices in many major markets and continues to expand across the country and overseas through nonmerger growth. Throughout this expansion, Duane Morris remains committed to preserving the collegial culture that has attracted so many talented attorneys. The firm’s leadership believes this culture is truly unique among large law firms, and that outstanding legal work is best accomplished by skilled professionals who respect each other and work well together.

Duane Morris lawyers hold leadership positions in bar associations, as well as in educational, cultural and charitable organizations and with community groups across the country. Many of the firm’s attorneys come to Duane Morris after having held senior positions in government agencies and large corporations. This range of experience is further enriched by the diverse backgrounds of the firm’s attorneys. Duane Morris has long been committed to recruiting, retaining and promoting talented female and minority lawyers, many of whom hold leadership roles at the firm.

Trade publications have placed Duane Morris in the upper echelon of law firms in terms of utilizing technology. Hundreds of lawyers working around the globe quickly communicate and collaborate using the firm’s integrated computer network, accessing sophisticated research software, information-rich databases, and other knowledge-sharing tools. Duane Morris’ clients also benefit from the contributions of professional-level support staff who maintain the firm’s technological and administrative infrastructure and enable lawyers to focus on providing valuable counsel and service to their clients.

For additional information, visit: http://www.duanemorris.com

RELATED INTERVIEWS:

Protecting Brands from Trademark Infringement
Gregory Gulia, Duane Morris LLP

Click image to view video.

Investments in cleantech have helped lead a strong turnaround in the venture capital market after the first quarter of 2009 – pulling ahead of biotech and software as the largest area of investment and closing out the year with more than 75 deals in the month December and the announcement of Hudson Clean Energy Partners’ closing it’s debut fund with over $1 billion in commitments.

In this exclusive LegalMindsTV interview, Chip Korn, a Partner at Sonnenschein Venture Technology Group, takes a look at what factors affected the venture market this year, as well what’s in store for the cleantech sector in 2010, including the role of tax credits on large projects, the impact of government stimulus funds, the move of traditional VC funds into clean tech investments, and the funding outlook for early-stage companies across the broad range of industries that make up the cleantech sector.

CONTINUE READING SUMMARY (Click to Expand/Collapse)

View and download a PDF transcript of the full interview here.

_____________________________________________________________________________

ATTORNEY INFORMATION

Peter “Chip” L. Korn Jr.
Partner, Sonnenschein Venture Technology Group

Chip Korn is a member of Sonnenschein’s Corporate Practice Group.  His practice emphasizes venture capital and private equity matters, mergers and acquisition, and general corporate counseling for emerging growth companies.

Mr. Korn is engaged in a diverse corporate practice representing emerging technology companies across a range of sectors relating to mergers and acquisitions, venture capital and securities transactions, as well as joint ventures, strategic alliances, and general corporate representation.  He also regularly advises venture capital funds relating to their organizational structure, the issuance of their securities and investments in their portfolio companies.

Mr. Korn works actively with emerging growth and other technology companies, as well as entrepreneurs behind them, at all stages of a company’s growth process from incorporation through exit strategies.

Mr. Korn also has served as a contributing editor for the Encyclopedia of Private Equity and Venture Capital, for which he has authored a quarterly survey of venture capital terms and is a co-author of Leveraged Buyouts, published by ALM’s Law Journal Press.

Prior to joining Sonnenschein, Mr. Korn was a Principal at Fish & Richardson P.C.

Admissions:
New York

FIRM INFORMATION

Sonnenschein’s Venture Technology Group has been ranked in the Top 10 nationally by Dow Jones Private Equity Analyst.  In addition, the team has been recognized by Chambers USA as one of the premier national venture capital practices.  Cutting-edge emerging growth and Fortune 500 technology and life sciences companies moving at breakneck speed in competitive markets require nimble, fast-paced counsel at the convergence of finance, strategy, policy and law.

For high potential entrepreneurs, our recently expanded Sprout Incubation/Acceleration Initiative has been a growth catalyst for more than 100 successful start-ups from Silicon Valley to Boston and New York and around the globe. Our success is driven by a multidisciplinary team comprised of more than 200 attorneys and other professionals specializing in venture capital, recovery act and legislative strate­gies, incubation services, M&A and strategic advisory, IP and patent litigation, fund services, licensing and IT transactions, capital markets/IPOs, corporate governance, and outsourcing/Asia.

Sonnenschein’s Venture Technology Group leverages its deep expertise in IT, life sciences and medical devices, digital media, clean technology, telecommunications and data privacy, along with a global network of venture capital and investment banking firms.

For additional information, visit: http://www.sonnenschein.com