Business Startup

iVLG News Roundup Week 2 2014: Snapchat, Target, and Customer Data; Harvard Law Expellee Again Behaving Badly?; Russian Venture Capital

Public Outrage Over Data Security Breaches: Take Care of (Likely) Your Company’s Most Valuable Asset

Snapchat’s Continuing PR Fails (Victories?) To follow up with our readers on Snapchat’s data breach PR difficulties that we discussed last week, CEO Evan Spiegel battled with Forbes staff regarding comments he made to the magazine for its cover article about the Snapchat leader. The comments suggested that the 23 year old CEO had made Facebook’s Zuckerberg acquiesce to his whim by coming to Los Angeles just before Spiegel turned down Zuckerberg’s $3 billion buyout offer. At least Snapchat managed to come around to issuing an apology for the data breach that caught our attention last week.

Target’s Customer Data “Floodgates” Apparently Open  Speaking of data breaches, Target announced that its original...

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Business Startup

Recent WA Case Highlights Importance of Compliance with State Taxes; Even When Conducting Limited Business in the State

A recent court of appeals case highlighted what happens if you don’t pay your business and occupation tax (B&O tax) to the state of Washington. In Space Age Fuels v. State of Washington, Space Age argued that the dormant commerce clause prohibits Washington from taxing its activities because they lack a substantial nexus with Washington. The dormant commerce clause is implied under Article I of the United States Constitution and prohibits a state from passing legislation that improperly burdens or discriminates against interstate commerce. The court of appeals disagreed with Space Age and affirmed the lower court’s ruling denying a refund of the paid B&O tax. If you do any business in WA, it may make sense (after this case)...

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Business Startup

iVLG News Roundup Week 1 2014: Jos. A. Bank Updates Poison Pill; Acquisitions: Bump and PopCap Fallout; Snapchat Data Security Fail; 2014 Economic Boost?

Mergers and Acquisitions

Jos. A. Bank Amends Poison Pill in Response to Men’s Wearhouse’s Unsolicited Bid The clothing retailer Jos. A. Bank amended its shareholder rights plan today to prevent rival retailer Men’s Wearhouse from acquiring it without a “level playing field.” The amendment came in response to Men’s Wearhouse’s unsolicited bid to purchase Jos. A. Bank in November, which followed an attempt by Jos. A. Bank to takeover Men’s Wearhouse via an unsolicited bid in October.

After Jos. A. Bank’s $2.3 billion October bid, which Men’s Wearhouse rejected, Men’s Wearhouse amended its shareholder rights plan to alter the poison pill threshold to apply if an outside investor acquires 10 percent or more of its common stock, or if an institutional investor takes...

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Business Startup

Tie Up Legal Loose Ends Before the End of the Year

As the year comes to an end, it is a good idea for your business to conduct a legal audit to prevent unnecessary risk and expenses in the coming year. A few minutes now can save you substantial cost and trouble later. Here are a few things your business should consider doing before the new year:

Dissolve any inactive businesses There’s no need to continue to pay filing fees to maintain business licenses and permits for a business entity you are no longer using. To dissolve your business, you’ll need to file Articles of Dissolution with the Secretary of State to notify the state of your intention to dissolve the company. There’s no filing fee in Washington (unless you want expedited service)...

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Business Startup

WSJ Crowns its Startup of the Year

The Wall Street Journal announced its Startup of the Year. The Houston-based company, Rebellion Photonics, produces a gas cloud imaging camera that can photograph gas leaks in oil drilling rigs. The company is looking to revolutionize gas leak detection on oil rigs and refineries. Congratulations to Rebellion Phototonics!

The other two finalists were Swipesense, a portable retractable hand-sanitizer, and The Muse, a career advice and job search website.

Check out the highlights from the finale.

...

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Business Startup

Federal Shutdown Leaves Small Businesses Without SBA Loans

Unfortunately, we’re beginning to experience the effect of the federal government shutdown in a wide range of industries. As the shutdown drags on, small businesses are without the ability to acquire Small Business Administration (SBA) loans that were available to these businesses just weeks ago. As reported in the Puget Sound Business Journal, many Seattle-area business deals are currently on hold as their loan paperwork sits on empty desks at the SBA.

These SBA-backed loans are a significant source of financing for small businesses looking for money to grow their companies. Not only does this shutdown affect the small business borrowers and the jobs their creating, but it is also affects companies that specialize in arranging and advising on these SBA...

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Business Startup

Seattle Startup Receives Major Boost From Series A Round of Funding

Seattle mobile advertising startup HasOffers publicly announced earlier this week that it has raised a $9.4 million series A round. Included in the investments were a few prominent Seattle tech investors. The round was led by California-based venture group Accel Partners, and also included Seattle-based Founder’s Co-op principal Chris DeVore, and RealNetworks founder and CEO Rob Glaser.

HasOffers has been bootstrapped until now. The company won “Bootstrapper of the Year” at last year’s GeekWire Awards for building a profitable, 79-person company without any outside financing. HasOffers was founded by twin brothers, Lee and Lucas Brown, and makes software that assists agencies and networks manage and analyze advertising programs in mobile apps.

The company’s impressive list of clients includes LivingSocial, Electronic Arts, Yahoo,...

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Business Startup

The Executive Effect: How a Successful Executive’s Exit Impacts a Company

I recently read a New York Times article that discussed investor reactions to a successful chief executive deciding to exit a company. The article discussed how Manchester United’s coach, Alex Ferguson, announced Wednesday that he will retire at the end of the season. As a result, Manchester United’s shares fell nearly five percent Wednesday morning. Today’s post explores the impact of Ferguson’s exit, as well as the general impact of exiting executives.

A Brief Background Manchester United, the English soccer club, raised $232 million in its IPO last year. During the IPO process, there were serious concerns about the club’s financial projections once Ferguson retired. Many believed that the club’s success over the prior two decades was attributable in large part to...

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Business Startup

City Takes Over Startup Seattle; Seeks to Bring Seattle’s Startup ResourcesTogether

Last spring, Red Russak founded Startup Seattle  to bring together Seattle’s startup community resources and help entrepreneurs connect and grow new ideas and businesses. The Puget Sound Business Journal reports that some big players have now joined Russak’s cause, including Chris DeVore of TechStars and Founders Co-op, Ex Lazowska of the Univ. of Washington’s computer science department and Greg Gottsman of Madrona Venture Group.  Now, with the help of these big name entrepreneurs and investors, the City of Seattle is taking over Startup Seattle.

The goal is to rebrand Seattle as a startup hub, similar to San Francisco and New York, two of the more well-known startup communities in the U.S.

The city plans to replace Russak with a startup business liasion, whose...

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Business Startup

Getting to Know the New Guy: Q&A with Ryan Hogaboam

We wanted to introduce our readers to Ryan Hogaboam, who is Of Counsel to inVigor Law Group and currently running our iVLG Tacoma office. We asked Ryan some questions so you could get to know him better.

Where’d you grow up? I was born in Tacoma, but I grew up in Vancouver, WA

What’s your favorite food? My favorite foods fit into two categories: pork and seafood. Top contenders in those categories include oysters, seared diver scallops, pork chops, pork belly, and, of course, bacon. I also really like Reese’s peanut butter cups. The ones shaped like eggs have the best peanut butter/chocolate ratio.

What’s your favorite thing to do in Tacoma? Visiting Tacoma’s great museums has to be right near the top of the list.

What...

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