EC roundup: Clunkers, mothers-in-law and educational gaps

Here’s the latest from VentureBeat’s Entrepreneur Corner.

Ask the attorney: The M&A risk (Part one) – If your startup has grown to the point where it’s thinking about acquiring another company, there are a number of legal issues that can turn into significant stumbling blocks. Attorney Scott Edward Walker runs them down in this first of a two-part series.

2010 VC outlook: No cash for clunkers – Last year the watchword among the investing world was: Stockpile your cash and don’t bother asking for funding. That advice, says Don Rainey, a general partner at Grotech Ventures, was shortsighted.

Sometimes, mother-in-laws top hard statistics – You’ve heard that hard data trumps personal experiences when dealing with investors. Not always. Jeff Bussgang, a General Partner at Flybridge Capital Partners, notes that he and other VCs often rely more on the tactile experiences of a product. If someone who isn’t immersed in the startup world gets it, that product is a lot more likely to find funding.

10 things you won’t learn in school – You can learn a lot in the classroom, but there are plenty of real world situations it can’t prepare you for. AKF Partners’ Marty Abbott and Michael Fisher run down the 10 biggest.

VC wisdom: Be a missionary, not a mercenary – You’ve heard that one of the keys to success with venture capitalists lies in your leadership team, but what is it VCs are looking for? Kleiner Perkins partner Beth Seidenberg explains it in a bit more detail.

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