Understanding Secondary Market Transactions with Becki DeGraw | Wilson Sonsini Startup Legal Basics

(00:00) Wilson Sonsini Partner Becki DeGraw joins Jason

(00:50) The increased use of secondary markets

(3:16) How companies staying private longer influenced the rise in secondaries

(4:25) Determining how much founders should be allowed to sell

(6:21) Spending more than a company is worth

(9:26) The Pari-Passu concept explained and how it applies to early investors, founders, and employees

(10:38) Who gets to sell pre-IPO

(12:44) Off the cap table transactions and hypothetical scenarios

(18:26) Tender offers and the NASDAQ secondary market

(20:06) The critical aspects of qualified small business (QSBS) stock