[MUSIC] Hello, my name is Viktor Dostov. I'm head of scientific department of Sand Pitcher Center for development of technology of distributed Ledger's in Sand Pitcher Book University, and also currently I am a president of Russian electronic mining Association. I have more than 20 years experience of starting Iranian. Different startups, sometime successful startups, sometimes have failed in startups and I will try to share my experience with you. I will talk about quite a narrow subject. I will talk about the process of incorporation of startups. What does it mean? Sooner or later when you start a new idea, when you start a new startup, you came to the point in which you need to transform group of friends or group of enthusiasts in kind of legal entity. It might be a limited liability company if you speak about UK or Russia or it can be another kind of legal entity. Such situation transforms your behavior quite drastically because in zero point you start formal interaction with the government. You can start formal interaction with a state, you start a formal interaction with tax authorities. You start the formal interaction with other companies. So, after the incorporation you came in kind of another form of worth. Of course, in cooperation has got different features. It has got positive sides, you get the new possibilities and it has got a negative side you can have some difficulties, you need more expenses and you need to start more business processes. So, in my presentation, I will talk to you how you can avoid some kind of difficulties, which kind of problem are very important, which kind of problem might not be important. What are positive function, how to go through the process of transformation with minimal amount of efforts and money and some sort of exit. I will base on different examples. Of course, I will talk mostly about Russian example because most of my experience based on Russian startups, but at the same time, we have good startups in the United States. We have good startups in Baltic countries. So I will try to deliver a kind of international message which will be useful for you, even if you start a company outside Russia in some kind of different territory, of course, incorporation is quite complicated issue. It is connected with a lot of legal regulation which cannot be covered in some kind of small Vizio and definitely, it can not be covered by a person like me who is not a lawyer. But I hope that insteady of my course you have quite a clear understanding of positive a negative side of incorporation of your possibilities, of your instrument. And what is possibly much more important that you have very clear on the stage and in which situation you need legal advice, in which situation you need bookkeeper advice, in which situation you need draft advice as a person, which has got quite a good experience of founds in, in the tin can selling his startup for. First of all winners. So I hope that in the end of the course, if you're the person which is absolutely ready to go with your group of friends or group of enthusiasts, Souza, all details and all there Complexities of process of incorporation.
