When it comes to starting up your own business, making the right choices from the outset is essential to save money in the longer run. This rule is true for any new business but even more in the technology field, where traps are numerous and ruthless!
Corporate & IP
Not only does the corporate (or other) type of entity chosen for the business have significant tax and compliance implications, but protection of your intellectual property rights (and your IP policy) is often critical. If not properly protected, the trademarks of your business can be used by competitors and others, damaging the goodwill acquired over the years. Under certain circumstances, registering your copyright in work from the beginning is also recommended, as it can be used as evidence in court and therefore improve your position, should litigation be the only suitable option.
Terms & Conditions
Drafting tailor-made terms and conditions for your website, app, and/or cloud platform can also save you time and money, making your business more robust, while conveying a more professional image.
Legal Compliance
Eventually, a best practice is to rely on a set of policies and procedures, as well as standard documents customized for you, considering the particulars of your business, your customers, and your own levels of risk appetite vs. risk aversion (sometimes prompted by external investors).
These are only the most common areas that should be planned for ahead (not considering more sophisticated aspects, e.g. financing the business via crowd-funding or venture capital).
We Can Help
As a law firm for high-tech entrepreneurs, our mission is to support you from these early stages. We know the early days of any young business are challenging and resources are scarce: that’s the reason why we offer a first 30mn free consultation to any entrepreneur launching a new technology business! (*)
So that you have the best chances of success in your new business venture.
(*) Terms of Service apply