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- HeyCounsel Pulse (April 18, 2024)
HeyCounsel Pulse (April 18, 2024)
Another exciting week in the HeyCounsel community, here's what you may have missed...

🌟 the tl;dr
Finally, we’ve integrated Member Profiles into Slack thanks to the work of the HeyCounsel Product Team!
Don’t forget to sign up for our upcoming Simple Docs AI Demo (4/22) and Fractional GC Meetup (4/24).
Be sure to check out these new client opportunities. including a data privacy lawyer in New Hampshire; a lawyer with experience in family trusts, QSBS staking and financial planning; and experience in international trade.
This week the community was talking about indemnification caps and diving into evaluating investments from non-US citizens living abroad and investments from an international company and some insight on the impact of a divorce on an incentive stock option.
HeyCounsel members were debating the use of AI-powered contract review and drafting tools, evaluating Wave for firm invoicing and using YouTube for firm marketing.
This week members shared templates for land sale contracts and equity ownership transfers.
Mark Hoag is the member of the week!
Dena Castricone and Megan Thomas recently joined. Come say hi.
📆 Upcoming Events
SimpleDocs AI Demo (4/22) - Registration Link - Demo of the SimpleDocs AI drafting platform!
Website Marketing Office Hours (with Omnizant) (4/24) - Registration Link - Ask the Omnizant pros about website marketing best practices.
Fractional GC Meetup (4/24) - Registration Link - Meetup of the HeyCounsel community!
🚀 New client opportunities this week
Here are a few of our favorite opportunities that have popped up this week. Want the full list? Head to our dashboard or jump in to our #03-opportunities channel!
Data privacy lawyer with experience in data breaches needed in New Hampshire.
A startup client is looking for a lawyer with experience in family trusts, QSBS stacking and financial planning.
Lawyers with experience in international trade and licensed apparel.
FL-based attorney needed to review a loan agreement.
Alaska attorneys needed to help a small business with some corporate work.
Help requested for help with a North Carolina Money Transmitter License.
NY attorney needed for help with a website ADA claim.
Lawyers with experience establishing post-nuptial trust in CA needed.
Advice needed by a CA attorney to assist in the purchase of an architecture firm.
💬 Discussion Spotlight
Indemnification Caps and Baskets in SMB M&A Deals
While there appears to be no clear consensus on market norms, it's common for transactions to begin with uncapped indemnity provisions. On the buy side, a basket set at 1% of the purchase price and a cap at 10% of the purchase price are generally considered standard.
Accepting Investments from a Non-US Citizen Living Abroad
Foreign investors must comply with their own country’s securities laws, but in practice, companies typically rely on the investor's representation that they are compliant (as reflected in NVCA documents). CFIUS concerns may require additional protections if the deal is borderline, such as limiting investor control. Some countries also have foreign exchange controls or unique regulatory requirements, so it's wise to ask early about any special needs or constraints the investor might have.
Impact of Divorce on an Incentive Stock Option (ISO)
Following a divorce, incentive stock options are generally not considered income or divisible assets for settlement purposes, as they are typically non-transferable and may not have been exercised prior to the divorce. Additionally, a former spouse cannot compel the exercise of these options.
⚡️ Legal tech and vendors worth talking about
Our members always have interesting things to say about a few tools and vendors…
Law Insider and Simple Docs launch an AI-powered contract review and drafting tool powered by OpenAI.
Using Wave for firm invoicing.
An interesting debate/poll over Microsoft 365 v. Google Workspace.
Is YouTube an effective firm marketing tool?
📃 New templates recently added to our template database
🏆 Member of the Week
![]() | Marc Hoag: Startup Founder, Lawyer and AI-enthusiast🌉 Background: Marc is a startup founder, lawyer and serial entrepreneur. 👑 Something they did in the Community: Through the help of the HeyCounsel community, Marc recently landed a job with Pasha Law where he will focus on tech, startups and AI-related matters! |
👋 Meet our newest members…
Dena Castricone - Dena is a CT based healthcare and privacy lawyer with a focus on health privacy.
Megan Thomas - Megan is a Central NY based employee side employment layer who has a practice that is in its sixth month!
Till next time,
Brian Scherer