Getting a startup lawyer to work with you when trying to create your business is very important.
Many founders have ignored this to their own detriment. And this is because they believed that all they need is just to register the business.
the essence of having a startup lawyer before ever launching your business goes beyond that.
A startup lawyer guides you and also helps you deal with all the legal issues that you should consider before ever launching a business which you obviously wouldn’t know and probably ignore.
This guidance will help you to reduce the cost and get your idea to market faster while avoiding all the legal pitfalls that could trip you.
Let’s look at 5 key legal issues that your startup lawyer will help you consider before the launching of your business.
Consideration Of Name Choice
There are countless number of businesses that are operating without being duly registered with the Corporate Affairs Commission.
Some of these business owners are not even aware that their names have already been taken by another business.
Before ever launching your business, you will need a startup lawyer to consider the choice and nature of the intended name of us.
Then run an availability search to sure that the name isn’t already taken.
Doing these will help be sure that your name of choice isn’t a restricted word and that such a name is actually free for you to use.
The consideration of a business name is very vital to the incorporation of your business.
If you get this part wrong, you stand the chance of losing your business name and all the possible brand equity you must have invested in the business over the years.
Selecting The Appropriate Business Structure
Without talking things through first with your startup lawyer, you might end up picking a structure that will work against your business in the future.
Choosing the right structure for your business is important because it will your tax and other liabilities in the business.
It will also determine what opportunities would be available to you.
Without your startup lawyer, you may adopt a business structure that might limit expansion and growth opportunities.
Some structures can even stop the founders from accessing investors, contracts, and the like.
Business Permit And Licensing Consideration
There are some industries you can’t just start a business in without getting some form of permits and licenses.
Such permits might be…
builders permit, health related permits, etc.
This is to ensure that your business is compliant with the laws operational for the running of such business.
Starting your business without having a start up lawyer look through the legal side of things with you might put you in a bad place legally.
Private Policy/Establishment Terms and Conditions of use.
Most startup businesses will require website to run effectively, especially those in the ecommerce industries.
It is therefore an important consideration to put in the terms and conditions for the use of the website.
Your startup Lawyer will help to draft the necessary documents required to support your business’ digital presence.
This will be ensuring that the website is used under the right conditions by third parties.
If this is not appropriately done, the use of such website or App would be violated.
Operating the Business
Once your business is formed, you would need to focus on getting it off the ground.
Depending on what your business does, you may need to create contracts or different types of agreements for your business.
At some point, you may run into more complex situations or legal issues with potentially serious consequences.
This might be by bringing on investors, taking credits and the likes.
At some point, most small businesses encounter some situation where they will need the help of an experienced startup lawyer.
In conclusion, as a business owner, don’t wait for things to go bad before you engage a startup lawyer.