It's easier to let a company fail by saying no to funding* than it is to hold them along with terms that can't possibly inspire the common stockholders — or so one can read between the lines from investors, founders and tech lawyers that Connie Loizos talked to for TechCrunch this week. As lawyer Mike Sullivan, a partner and head of the corporate group in Orrick’s San Francisco office, notes, there simply aren’t enough deals being closed right now to draw any sweeping conclusions.
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