ENTREPRENEURIAL SERVICES:

Alvenda, Inc.

An e-commerce start-up company, Alvenda, Inc., came to Gray Plant Mooty seeking outside general legal counsel. Gray Plant Mooty had previously assisted one of Alvenda’s founders with another entrepreneurial venture, and when he teamed up with another entrepreneur to start Alvenda, they engaged the firm for a variety of services for their fledgling business. A Gray Plant Mooty team helped Alvenda organize a new Delaware corporation, raise seed capital from several angel investors, and develop agreements with customers and consultants.

Alvenda presented at one of Gray Plant Mooty’s Entrepreneurial Services team’s quarterly Capital Circle events, at which the firm introduces its early-stage client companies to local angel and other investors. Alvenda raised approximately $570,000 in seed capital within months of its organization. At the firm’s suggestion, Alvenda participated in the Gray Plant Mooty-sponsored 2009 Minnesota Cup competition, a statewide business plan competition that rewards Minnesota’s best early-stage companies with recognition, professional resources, and seed capital. Alvenda won the competition and met a highly regarded local venture capital investor, whose firm recently invested $5 million in Alvenda. After just 12 months in operation, Alvenda has enthusiastic customers, significant capital, a talented management team, and an excellent foundation for growth.

EMPLOYMENT LITIGATION:

Analog Technologies Corp.

Analog Technologies Corp. approached Gray Plant Mooty seeking to determine what recourse it had against a former employee who used Analog’s confidential processes and information to launch a competing business. Gray Plant Mooty’s employment lawyers filed suit against the former employee, alleging misappropriation of trade secrets and confidential information, breach of contract, tortious interference, and breach of the duty of loyalty. The case was tried to a jury, which returned a verdict for Analog and awarded $525,000 in damages. Gray Plant Mooty then brought a post-trial motion and the judge awarded Analog an additional $1,050,000 in statutory exemplary damages. The judge also awarded attorneys’ fees in an amount to be determined, and issued an injunction barring the former employee and his company from providing certain services in areas where information was misappropriated.

GRAY PLANT MOOTY: YEAR IN REVIEW

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