STARTUP BUSINESS LEGAL CHECKLIST

STARTUP BUSINESS LEGAL CHECKLIST

We do a lot of work for startup clients and for those who have good business ideas that they want to put into action one day soon.

It is good dealing with clients in the early days of their business model for us as lawyers.

That way we get to hear all about what the business is about and the pathway that the business owners wants to follow so we can tailor our legal advice accordingly.

Ultimately what we are supplying is customised advice that leads to the development of a legal business plan for the first 12 months of the business.

STARTUP BUSINESS LEGAL CHECKLIST

Every business is different so they have different legal needs that will arise at different times.

But we thought we would do a short list of legally related things that all businesses should be thinking about at the startup point. Our view is all businesses should be thinking about these issues at startup;

  1. What the right legal business structure should be – sole trader, partnership. company or a trust.
  2. The relationships between the owners of the business and whether a shareholders agreement or partnership agreement should be in place.
  3. Working out what is your valuable IP and protecting it through a trade mark, confidential agreement, copyright practices, social media handles etc.
  4. Working out your business practices are so that you can put into a set of terms and conditions and/ or a B to B agreement
  5. Having solid employment agreements in place for employees.
  6. Thinking about the lease arrangements for any new premises.

These are the legal basics that will set you up for the first year of your business and that you need to turn your mind to.

Being armed with legal knowledge will make you feel more confident and also make you look professional to the outside world from day one.

STARTUP BUSINESS LEGAL CHECKLIST

STARTUP BUSINESS LEGAL CHECKLIST

Here is a piece I recently wrote about what the right legal structure may be for your business.

The Government’s business.gov.au is a website full of interesting information for business owners, from startups to established businesses.

If you have any further questions about your start up call us on 9528 0235.

You can also make an appointment to visit us at a convenient location at either our Crows Nest office on Sydney’s lower North Shore or at Jannali in the Sutherland Shire.

Paul Ippolito is Principal of Ippolito Lawyers. He is an experienced commercial lawyer who enjoys working with business owners, both new and established ones. He has also lectured for nearly a decade in commercial and corporate law at The College Of Law in NSW.

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