Why Lawyers are SO Important to Start- Ups!
You did your strategic innovation, now you are ready to incorporate and order your batch of product or launch a new service.
DISCLAIMER: THIS IS NOT AN ENDORSEMENT FOR ANY LEGAL PRODUCT OR LAW ADVICE.
The first step before incorporation, is Trademarks!
Why? Trademarks are very important.
I went to this one talk on trademarks. Long story short, if you take a product or service to market without filing necessary trademark paperwork, and a company finds your business has similarities to them, especially if they view you as a competitor then they can sue you for trademark infringement.
Trademark attorney's have access to special databases that tell you where and when something was filled and under what category and advise you accordingly.
Second Step: Your Companies Legal Structure
A compent attorney's will suggest the best legal structure for you in terms of the companies goals and as it relates to potential investors taxes, etc.
Third Step: Employee Agreements
If you are building a great company beyond a start-up, then you should have employee agreements. Again clearly state to your lawyer what you would want in an employee agreement and they would tell you according to the laws of your state if that is something that can or cannot be done. If the attorney is that familiar with HR laws, they would be able to refer you to a compent HR lawyer to navigate the process.
Fourth Step: Potential Lawsuits and other matters
If you hire a great lawyer, and you should periodically check in with them or they should bring to your attention, any thing that could legally cost you in terms of lawsuits and legitiation. If you are ready to expand, or buyout a partner, your lawyer should always be on speedial.
Cheers to finding great LEGAL COUNSEL!!!!