Marc René Deschenaux 
The term “Liquidity” may seem straightforward at a glance, often mistakenly equated to the term cash in popular understanding. However, within the financial realm, its meaning takes on greater complexity. It can be viewed as a concept shrouded in ambiguity due to its polysemic nature, given that it applies differently to both a physical or … Read more
A share of stock in a company may have a par value or no-par value. These categories are both pretty much a historical oddity and have no relevance to the stock’s price in the market. The par value, or face value, is the stated value per share. This price was printed on paper stock certificates … Read more
In almost all jurisdictions, a work made for hire (work for hire or WFH) is a work created by an employee or a subcontractor as part of their job, or some limited types of works where all parties agree in writing to the WFH designation. In the United States, work for hire is a statutorily … Read more
As discussed in my previous article “Is your company ready for an I.P.O. Initial Public Offering ?”, the main barriers preventing an IPO to happen for a company which is ready, willing and able to pursue it are the following: The preparation cost of an IPO is prohibitive. There is no guarantee that the IPO … Read more
The Theory of Objects was born from the conception of object-oriented programming but its use expanded from computers to business analysis in general thereby giving birth to Object-Oriented Business Analysis. This article aims at giving an overview and a quick jumpstart at the theory of objects in both contexts. An Object can be anything elementary … Read more
Many businesspeople come to me to ask me help them close multimillion and sometimes multibillion deals. They are broke but in their mind, this is not a problem. The multimillion or multibillion deal will soon settle the problem and they’ll be able to pay all of their debts. What kind of deals are those? Most … Read more
Definition The Subscription is a form of purchase agreement that differentiates itself from the classic purchase and sale agreement of securities, because it creates said securities through its execution. Except for this essential differentiation, it is a normal purchase and sale agreement. Unilateral and then Bilateral In common law, a subscription agreement begins generally by … Read more
A company was just transformed into a Securities Issuer by Deschenaux Hornblower & Partners, LLP who prepared a Private Offering Memorandum describing its securities issue and filed it with the Securities & Exchange Commission through a Regulation D filing. Now comes the really hard part: where to find accredited investors willing to invest in this … Read more
The Roadshow is a presentation organized by an issuer of securities and the syndicate of brokers and investment banks underwriting an issue of securities, aiming at presenting to investors an opportunity of investment. It usually takes place in an hotel, a convention center, a bank or a prestigious place under various circumstances such as a … Read more
This is a true story, just as it happened. In these times, Mohamed and I were spending our time in the Noga Hilton –today called Kempinski- of Geneva, Switzerland. Mohamed was a lazy student, with plenty of money. I was then a trader doing very good. We were meeting three evenings -or should I say … Read more
