Section V - Entrepreneurial Finance

1. Elimination of Risk
2. Capital Structure
     a. Preferred Stock vs. Common Stock
        i. Liquidation Preferences
        ii. Pro Rata Investment Rights
        iii. Anti-Dilution
     b. Employee Stock Option Pool
3. Shareholders Agreement
4. Stock Purchase Agreement
5. Board Representation
6. Vesting/ Dilution
7. Minority Shareholders Rights
     a. Illiquid Assets
     b. Lack of Control
        i. No Longer in Charge
8. Liquidation
     a. Illiquid Assets
     b. Sale / Merger / IPO / Shutdown
9. Mind of the Venture Capitalist

Guest Speaker(s):
Charles Thornburgh, CEO of Civitas Learning
Bob Metcalfe, UT Professor.

Reading Assignment:
Complexity by Mitchell Waldrop, Chapter 8-9

In-Class Presentation(s):
Entrepreneurial Finance - Spring 2014