Private companies face two particular challenges: First, because private companies contend with fewer compliance requirements than public firms, they may not have all of the necessary processes in place before the event. Second, many private companies — particularly younger, smaller firms — have delayed compliance investments in favor of investments yielding IP or revenue. Before a private firm seeks a significant funding round or a public offering, it is critical to understand which compliance requirements apply and to successfully fulfill these requirements.
This Foley Executive Briefing Series program explored the expectations of investors and market regulators, the rules associated with protecting a company’s valuable information, and the steps one company has taken to prepare for a significant event. Program panelists included Edouard C. LeFevre, Foley Private Equity & Venture Capital Partner, Peter F. McLaughlin, Foley Privacy, Security & Information Management Senior Counsel, and Danielle Sheer, Carbonite Inc. General Counsel.
Specifically, topics included:
- Regulations governing employee and customer information
- Requirements for protecting company financial data
- Guidance for protecting intellectual property that has not been patented
- Expectations of regulators and investors, and the necessary due diligence
- Legal and technology strategies for implementing compliance with limited resources
- Suggestions for communicating and evangelizing these practices throughout the company
Funding Due Diligence: What Your Investors Need You to Know About Compliance is part of the Foley Executive Briefing Series. Learn more about programs in the series at Foley.com/FEBS.