The Four Seasons   —   Silicon Valley   —   September 27, 2010

Decreased activity in the IPO and M&A markets over the last several years has left many private company stakeholders without a path to liquidity. This demand for liquidity has created a growing secondary market for private company stock.

While the emergence of a market for private company stock is welcomed, it comes with a host of legal, investment and tax considerations. These issues were explored at The Private Company Stock Conference on September 27, 2010 in Palo Alto, California.

Management of venture-backed companies, angel investors and other private company stockholders, along with venture capitalists met at this strategic and educational event. Topics included:

• Research - What kind of information do investors need to make a rational buy decision and how can this information be obtained?
• Valuation - What is the process for determining the value of private company stock? How is the price set?
• Legal Considerations for Companies, Employees and Investors - What SEC regulations come into play? Where are the vulnerabilities?
• Structures for Achieving Liquidity - Exchanges, Secondary Direct Funds, and Growth Funds.
• Shareholder Management - Controlling who buys into your company, when, how much, and where in the capital structure new investors reside.
• Protecting Private Company Exemption Status - Avoiding regulatory pitfalls.
• Tax Considerations - How does the price of the secondary stock sale affect the company?s tax situation, and how can this be managed?
• Contracts - Protecting the legal rights and business interests of all parties.
• Company Stock as an Employee Incentive - How can companies maintain the incentive provided by company stock while allowing employees to participate in the private market?
• Case Studies - A well-rounded discussion of recent transactions and case studies.

• Funded Company Founders
• Angel Investors
• Venture Capitalists
• High Net Worth Individuals
• Family Offices
• Wealth Management Professionals
• Funded Company Managers
• Research Firms
• Valuation Experts
• Legal & Tax Specialists
• Private Equity Firms