VC Law: Episode 47: Startup Failures with Prof. Elizabeth Pollman of Penn Law

Host Gary J. Ross welcomes Prof. Elizabeth Pollman of the University of Pennsylvania Carey Law School to discuss her influential article “Startup Failure.” Prof. Pollman first explains why bankruptcy is often a poor fit for venture-backed companies. Then, Gary and Prof. Pollman explore the alternatives that founders and boards frequently consider, from wind-downs and assignments for the benefit of creditors (ABCs) to acqui-hires, along with the legal and practical implications of each. The conversation concludes with a look at emerging trends, including the challenges posed by increasingly large later-stage private companies.