# #196 - Corporate Structure & Financing 101 with Giannuzzi Lewendon

- Show: [The Startup CPG Podcast](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast)
- Published: 2025-05-13
- Length: 56m
- Episode: 151
- Page: https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2025-05-13-196-corporate-structure-financing-101-with-giannuzzi-lewendon
- Listen: https://share.transistor.fm/s/6de840fd

## Summary

Adam Marsh and Gabrielle McGonagall from Giannuzzi Lewendon, a law firm specializing in CPG, explain the legal and financial structures for early-stage founders. They discuss choosing between LLCs and C-Corps, the benefits of Delaware incorporation, and the mechanics of issuing equity through profit interests or stock options with vesting. The guests also detail fundraising instruments like SAFEs and convertible notes, the risks of crowdfunding, and the importance of negotiating board control and blocking rights to protect founder interests.

## Outline

1. Introduction: Adam Marsh and Gabrielle McGonagall from Giannuzzi Lewendon
2. Entity Selection: LLC vs. C-Corp and Delaware Incorporation
3. Equity Structures: Profit Interests, Stock Options, and Vesting
4. Fundraising Mechanics: SAFEs, Convertible Notes, and Crowdfunding
5. Founder Protection: Board Control, Blocking Rights, and Dilution
6. Secondary Sales and the Value of Specialized Legal Expertise

## Topics

- [Fundraising & investors](https://hardwarepodcasts.com/topic/fundraising)
- [Starting a product company](https://hardwarepodcasts.com/topic/starting-a-company)
- [Intellectual property](https://hardwarepodcasts.com/topic/intellectual-property)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)

## Most relevant to

founders before launch

## Mentioned

- Giannuzzi Lewendon (company)
- SAFE (other)
- Convertible Note (other)
- Delaware (other)

## Related episodes from other shows

- [124: Raising $1 Million for a Hardware Startup](https://hardwarepodcasts.com/podcast/product-startup/2022-04-27-124-raising-1-million-for-a-hardware-startup) (Product Startup)
- [178: Venture Capital Funding for Hardware Startups](https://hardwarepodcasts.com/podcast/product-startup/2023-06-01-178-venture-capital-funding-for-hardware-startups) (Product Startup)
- [068: Partnership & Funding Legal Considerations for Product Startups](https://hardwarepodcasts.com/podcast/product-startup/2021-03-23-068-partnership-funding-legal-considerations-for-product-startups) (Product Startup)
- [S6E45 Jeremy Jarrett | Legal Advice & Strategy for Starting An Engineering Business](https://hardwarepodcasts.com/podcast/being-an-engineer/2025-11-07-s6e45-jeremy-jarrett-legal-advice-strategy-for-starting-an-engineering-business) (Being an Engineer)
- [Advice Line with Scott Tannen of Boll & Branch and Jamie Siminoff of Ring](https://hardwarepodcasts.com/podcast/how-i-built-this/2025-12-11-advice-line-with-scott-tannen-of-boll-branch-and-jamie-siminoff-of-ring) (How I Built This)

## Citing this page

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