You’ve probably seen Paul Newman’s face in just about every aisle of the grocery store for as long as you can remember, and you probably don’t give it much thought.[1] It’s easy to forget just how radical of a concept the brand was at the time of its inception: taking a huge star like Paul Newman, leveraging his fame to drive a brand, and donating all the profits to charity.[2] Since its inception in 1982, Newman’s Own has donated more than $600 million to charity.[3] However

I. Overview Non-compete agreements have long been used by businesses to limit employees’ ability to join competitors or establish competing businesses after leaving a job.[1] In 2024, the Federal Trade Commission (FTC) adopted a rule that would have prohibited new non-compete clauses and rendered most existing clauses unenforceable.[2] The rule never took effect due to intervening precedent.[3] The FTC Act nevertheless continues to prohibit unfair methods of competition, mean

I. The Opportunity: What Barriers AI Breaks Artificial intelligence is one way to level the playing field between well-established companies and startups.[1] This shift is visible in a new class or organization: AI-driven enterprises.[2] An AI-driven enterprise is a business that integrates artificial intelligence into every major area of its operations.[3] These enterprises accomplish more with far fewer resources and in far less time.[4] These businesses are also stealing m

I. Overview A traditional acquisition is usually easy to recognize: a buyer purchases the target’s stock, acquires its assets, or merges with the target.[1] Artificial intelligence ("AI") dealmaking is making that picture less tidy because buyers can obtain a startup’s people, know-how, and technology rights without purchasing the startup itself.[2] Morgan Lewis reported that AI attracted more than half of global venture capital funding in 2025.[3] At the same time, "acqui-h

Introduction – Startup Funding Basics Since the beginning of the COVID-19 pandemic, startup activity has skyrocketed within the United States. [1] In 2025 alone, over 5.1 million entrepreneurs took the leap from business idea to formation. [2] Yet, despite this trend, only roughly 70% of new businesses survive beyond two years of formation and only 50% of businesses survive beyond five years. [3] Even those startups that are “VC-backed,” often indicating perceived high gro

B-Corp certification is a process that companies with a strong dedication to social governance can choose to undergo in order to express their dedication to a particular mission or cause. [1] In order to achieve B-Corp certification, a company must 1) “[d]emonstrate high social and environmental performance,” 2) “[m]ake a legal commitment by changing their corporate governance structure to be accountable to all stakeholders,” and 3) “[e]xhibit transparency by allowing inform

What is a Cooperative? A cooperative (“co-op”) is defined by the International Cooperative Alliance as an “autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.” [1] Co-ops are created and operated by individuals who share a common goal. [2] For entrepreneurs, co-ops can help fill market gaps because their business structure has elements

On March 17, 2025, PepsiCo announced that it would be acquiring Poppi for a net purchase price of $1.65 billion. [1] The deal included a potential earnout consideration “subject to the achievement of certain performance milestones within a specified period after closing of the transaction.” [2] The buyer in the acquisition is PepsiCo, an international company serving over 200 countries and territories world-wide. [3] In 2024, PepsiCo earned nearly $92 billion in net reve

After the COVID-19 pandemic, climbing interest rates, heightened risk aversion among institutional investors, and depressed corporate valuations have caused startups to rethink their financing strategies and pursue sources of capital beyond traditional venture capital (“VC”). [1] Today, VC, a historically prominent source of financing for startups, is increasingly being supplemented with venture debt (“VD”). [2] VD is a financing tool that allows founders to raise capital t

Whether you’re a seasoned alpinist or a loyal corporate soldier, you are probably familiar with Patagonia. [1] Its Gore-Tex hard shells can be seen at the highest peaks and its vests behind Bloomberg terminals at activist hedge funds. [2] This contrast shows up not only in its customer base, but also in its governance. [3] While Patagonia was always run with an eye toward conservation, already being a certified B Corp and a California benefit corporation, the company went

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