Scott W. Foster
Scott Foster’s practice focuses on the growth aspects of private ventures. He has represented startups, angel investors and venture capital groups, as well as publicly-held and private corporations in industries ranging from precision manufacturing to high-growth technology to commercial food production to multi-family residential housing. Many of the companies seeking counsel from Scott are ventures in transitions, i.e. seeking early stage funding, looking to lease equipment or real estate, and obtaining commercial financing for expansion, or transitioning ownership to an investor group or even the next generation of a family business.
Scott frequently negotiates contracts involving finance, partnerships, joint ventures, LLC operating agreements, suppliers, real estate and employment.
As co-founder and current Chairman of Valley Venture Mentors, a startup accelerator that provides robust mentoring to entrepreneurs from around New England, Scott has become the go-to person for legal issues concerning startups. He has worked closely with entrepreneurs and relevant business partners to develop and strengthen strategic relationships, earning him a reputation as not only a strategic lawyer, but also a valuable resource for connecting key people in all aspects of their business ventures.
- Yale University, B.A., 1993
- University of Connecticut, School of Law, J.D., high honors, 1996
- Advisor to entrepreneurs regarding their start-up ventures including initial formation, angel financing, and Series A/B capital raises across many industries.
- Counseled multiple manufacturing companies and their principals regarding all aspects of business, including purchase and sale of a division, purchase and sale of real estate used in business, employment issues, and negotiation of several contracts with suppliers, customers and key employees.
- Operated as lead counsel on numerous stock and asset transactions for clients in a number of different industries with the size of the transaction ranging from below $500k to over $35MM. In the course of these transactions, drafted or revised commercial real estate leases, key employee employment agreements, covenants not to compete and escrow agreements.
- Facilitated transfer of family-owned business among family members across three generations.
- Developed strategy for diversifying risks facing manufacturing company client and its principals, as well as counseling the company on routine contract and corporate matters.
- Counseled several “closely held” businesses regarding stock restriction agreements, valuation issues and estate planning issues.
- • October 31, 2019
- Recognized in 2017 with the Continued Excellence Award
- Accepted the 2015 “Difference Maker” award on behalf of Valley Venture Mentors
- Recognized in the 2011 “40 Under Forty” list of outstanding young Western Massachusetts business and community leaders published by Business West
- Received the Massachusetts Bar Foundation’s 2009 President’s Award
- Board member of the Western Massachusetts Chapter of the National Tooling and Machining Association
- Board member of the Economic Development Council of Western Massachusetts
- Board member of TechFoundry, Inc.
- Participant in several economic development initiatives in the Greater Springfield area, including serving on Springfield’s Federal Reserve Working Cities Challenge Grant Team and the steering committee for DevelopSpringfield’s Future City 2025
- Member, Massachusetts Bar Association
- Member, Massachusetts Bar Foundation
- Member, Hampden County Bar Association