For Women Who Are Unapologetically Ambitious and Fiercely Informed

When I was hired at Roc Nation, Jay Z offered me the job as General Counsel but having been his attorney for so long, he suddenly realized I couldn't negotiate the deal to hire me. 😂😂. He said - "Wait, who am I going to have do this deal?" To which I replied, "I don't know but who am I going to hire?". There is a saying, "Any attorney that represents themself has a fool for a client". I hired someone and guess what - she got me more than I was going to ask for. Moral of the story - we need to not only hire people to represent our companies, but also ourselves. And this week's podcast will make this crystal clear. This week on Takin’ Care of Lady Business, I talk to Maria Goy - FORMER co-founder of Spot Insurance. And yes, FORMER, because like so many women who build something groundbreaking, she was pushed out of her own company. Maria gets into the stuff no one warns you about: what really happens when the board turns, how equity and control slip away, and why being the “face” of a company doesn’t mean you’ll keep your seat at the table. It’s a masterclass in what to watch out for when raising money, building a board, and DARING to lead as a woman in a space still designed to take your vision and still leave you behind. Spoiler alert: it’s not enough to build it. You better protect it, too. Listen now.

With Love & Lady Business,
JJ

In today’s edition:
— The Truth About Boards, Bias, and Protecting Yourself in Business with Maria Goy
— The Four MUST DO Things When Starting a Business
— Charlize Theron Calling Out Hollywood

“So if I were starting another company today, regardless of how strong our relationship is, I’m putting it in f*cking writing!”

Key Takeaways:
 — The importance of having your own lawyer, even if you trust your co-founder
— How gender bias shows up in “feedback” like being called emotional
— Why the wrong board can feel more like a trap than a team
— How to protect your truth on paper and in the room
— Why walking away with nothing can still be the most powerful move

The Four MUST DO Things When Starting A Business

I had a friend who started an amazing company - product based - income coming in, costs, payroll, all the things. She was going to her husband's accountant who saw this little company as just a cute hobby. It was making money but he told her she didn't need to start an entity so everything was in her name.  Which meant SHE was taxed, not her company. By the time she got the right advice, guess how much more she had to pay in taxes. 💰💰💰.  This and more below:  

1. RE-EMPHASIS - Hire Your Own Lawyer, Not JUST the Company’s
That “friendly” startup attorney your investor recommends? They don’t work for you. You need independent legal counsel looking out for your interests especially when it comes to ownership, founder agreements, and equity splits. Don’t share a lawyer. Don’t share your leverage.

2. Protect Your IP Like It's Your Retirement Plan (Because It Is)
If you created the concept, the code, the brand - own it. Make sure everything is assigned to the company properly (and legally), and that your name is on the patents, trademarks, and copyrights when applicable. You’d be shocked how many founders lose control of the very thing they invented.

3. Set Boundaries with Early Employees and Co-Founders
Friendship is not a legal structure. Get everything in writing, including roles, equity, responsibilities, and what happens when someone wants out (or stops performing). Handshakes and “we’re all in this together” vibes don’t hold up when things get hard or money gets real.

4. Use the Correct Entity
Thinking of starting as an LLC because your cousin’s accountant said it’s simple? Think again. If you're building a high-growth company and plan to raise outside capital, you need a Delaware C-Corp. Investors expect it, and skipping it means tax headaches, expensive restructuring, and zero chance of ever taking advantage of QSBS (a major founder tax break). Do it right from day one or pay for it later when you're finally making money and Uncle Sam shows up with the bill. Exhibit A above. 

Charlize Theron calling out Hollywood 

Just when we thought Hollywood might finally be getting its act together on gender equality, Charlize Theron drops this truth bomb that reminds us we're still fighting the same damn battles! The Oscar winner called out the industry's ridiculous double standard where men can bomb at the box office repeatedly and still get handed action movie after action movie, while women get one shot – ONE – and if it doesn't hit big, they're basically blacklisted from the genre. What do you think – have you seen this pattern play out in your own industry?

Lady Bits:

 🎙️: Watch JJ give her real views on women makin’ money on Real Money with Lisa Chastain 

 📖: Shannon Watts is Fired Up - and she’s showing you how to do the same

 👀: This is Too Much for you if you can’t handle second-hand embarrassment

 👏: Women own how much of the NFL? Watch out - we may be silently taking over...as we should  

 🎧: Finally, new music from this queen who always fights the good fight - “A Way It Goes” by Amanda Shires

😳: Here is the Tipping Point for the Gender Wage Gap  

Hi, I’m JJ.

Since starting the Justice Dept, we have increased women's wealth by over $100MM in just over 5 years. Want to know what inspires me to do this work, other than making women money? My clients' surprised reaction when we manage to get them much better terms for themselves and their companies, whether via talent agreements, employment, severance, partnerships, asset sales or investments. They often admit that they never thought they could get that result. Not even hoped. This blows my mind. As we know at The Justice Dept. you are all worth everything you ask for and more. Reach out and we’ll show you how!
x TJD

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