No, it was a C-corp. (Again, we were a VC and needed the different classes of stock.) The example is that merely being a C-corp wasn't sufficient.
Again, experienced startup lawyers would have alerted us to this. Mere corporate attorneys would not, and did not, contemplate the edge case I outlined.
Look, if you're happy to bootstrap forever, Chicago's great. But if you even have an eye on VC at any point, GTFO and go to the coasts.
Again, experienced startup lawyers would have alerted us to this. Mere corporate attorneys would not, and did not, contemplate the edge case I outlined.
Look, if you're happy to bootstrap forever, Chicago's great. But if you even have an eye on VC at any point, GTFO and go to the coasts.