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About the Author  | Liam Gill is a former venture-backed founder and lawyer. After earning his Master of Science, studying Venture Capital Investor Psychology, he has spent the last few years helping startups raise millions, including raising pre-product, pre-traction and pre-team. | | | | Top Legal Stories of 2023 For Startups! #3
The ongoing legal saga of Elizabeth Holmes, the founder of the now-defunct blood-testing startup Theranos, continued in 2023 with her appeal against the criminal fraud convictions. Holmes, once celebrated as a pioneering entrepreneur, was convicted for deceiving investors about the capabilities of Theranos' technology. Her appeal and its outcome are closely watched in the startup world, as it underscores the importance of transparency and ethical conduct in business practices. This case serves as a cautionary tale for startups about the legal and reputational risks of overpromising and underdelivering. | | | What do clients have to say? "Liam is a force multiplier for your fundraising efforts and will change the way you see the game." - Yehong Zhu, Founder & CEO @ Zette ($1.7M Raised)
"Liam has positively impacted the trajectory of my business. Personally, learning the art of persuasion and storytelling has improved my success rate." - Jimi Daodu, Founder & CEO @ Vault Hill ($2.1M Raised)
| | | Practical Information
Understanding Contracts: Deciphering the Notice Clause The Notice Clause serves as the central hub for formal communications between parties involved in a contract. Why Does It Matter? -
Transparency: This clause ensures transparency by stipulating how and where formal notices, requests, or demands must be sent. -
Timeliness: It sets the timeline for responses and helps prevent misunderstandings or disputes arising from missed communications. -
Legal Compliance: Complying with the notice clause is often a prerequisite for taking legal action or invoking other contractual rights. Key Elements to Consider: -
Methods of Communication: The clause typically specifies acceptable communication methods such as email, certified mail, or personal delivery. -
Addresses: It identifies the physical or email addresses where notices should be sent. -
Timing: The notice period, which delineates how long the recipient has to respond or take action, is also a crucial component. |
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