esmaspäev, 19. jaanuar 2015

Founder Institute: Week 6 – Start-up Legal and Intellectual Property (IP)

While contracts, agreements and all the other legal complexities should not be the main thing you focus on, they should always be in the back of your mind.



In this week’s session we learned about what you should look out for in legal terms when starting and a few pointers what investors look at when they are interested in investing in your start-up.

What does a founder need to know about law to launch a successful start-up? 

How do you pick a law firm to work with?
What is the process of setting up a company?
How much do you need to know about law?
What agreements do you need to run a company?
What are common legal mistakes?
How do you handle intellectual property, including confidentiality, copyrights, trademarks and patents?
How much does the law actually matter?

Our mentors this week

- Antti Perli, a former senior aasociate at Raidla, Lejins & Norcous and currently legal counsel at the Estonian Development Fund and member of the managment board at AS SmartCap;
- Mihkel Miidla and Paul Künnap, senior associates at Law firm Sorainen.




Practical tips about the legal side of a start-up and IP

Although every situation has its unique actions plan, here are a few practical pointers that our mentors shared with us:
One of the biggest values of your start-up is the team. It is also one of the biggest sources of problems. When founding your business it is important that all the contracts and documents are correctly done between the co-founders. If not, it can be very hard to decide later who was right.
If you do end up in court with your co-founder you also have to consider the resources that this is going to take. By the time you have settled your dispute your competitors could already have a huge advantage.
It is not possible to protect an idea!
When it comes down to copyright you have to make sure that your start-up owns the proprietary rights.
When you make a confidentiality agreement with someone you have to make sure that all the people involved in the deal are somehow connected with the contract otherwise they are not legally bound to stick to it. Also make sure you are very accurate when describing the confidential information in the contract.
When you are protecting your intellectual property you should make a registry so you mark down who made what when and which contracts have been signed with whom. So, when trying to strike a deal with investors they will have a complete overview of what contracts have been signed etc.
When you’re trying to get foreign investments then you should probably move your business to the UK or US because usually the investors can’t be bothered to research the Estonian business laws.
Potential investors will be more positive about your start-up if they see that you have used the help of a lawyer.
When it comes to start-ups investors don’t want to see a passive founder who still owns a piece of the business. They prefer start-ups where all the owners are actively developing the business.
Investors also look at things like unusual contracts between third parties, e.g. a contract with someone saying you can exclusively work together with them.
When looking for legal advice for your start-up you have to take into consideration that in Estonia the start-up field is quite unique and not everyone knows how to handle it. You should do a bit of research before you sign anyone on. Just because the person has signed big deals before doesn’t mean that they know how to advise start-ups.
If someone is offering you pro bono or a very cheap deal think twice. This might be an indication that the person involved doesn’t actually know what’s involved in working with start-ups. It can also be that since there isn’t that much money involved your case might be at the end of the list of their priorities.
If you lawyer is trying too hard to protect you from everything this might lead you to not striking a good deal. Also if your lawyer is too conservative and says some things can’t be done in Estonia, he probably doesn’t know how to do it. Remember, start-ups are a fairly new thing here!
Talk to other start-ups and investors and see whose help they have used when it comes to legal matters.

Reading suggestion from the SmartCap team:
Venture Deals by Brad Feld and Jason Mendelson

6 kommentaari :

Taylor Bara ütles ...

Do you have your own opinion on what is the best proof reading service? Here is my number one https://edit-proofread.com/blog/farther-vs-further-differences

Personal Injury lawyer ütles ...

Want to file a personal injury lawsuit? Is medical malpractice your case? In need of justice for your loss? Then contact a Personal Injury Lawyer Moreover, the lawyers can help you with legal advice and design your moves in the court sessions. They also gather evidence, talk with the opposite parties, and file your complaint. If you need to know more about the Personal injury cases, what the role of the lawyer and the proceedings, then switch to our site and read blogs. And this will provide you full-fledged details on what you need to do and what you must not. Call@ +1-727-410-8468

More Blogs:

Tampa Personal Injury Lawyer
Pinellas Personal Injury Lawyer
Pasco Personal Injury Lawyer
Hillsborough Personal Injury Lawyer

Car Accident Lawyer in Miami ütles ...

Car accidents can transpire at any time, any day. So, one should always proceed with caution to avoid a potential crash or injury to themselves or other pedestrians. We, the best car accident lawyer in Miami, offer finest assistance with all types of car accident cases and hassles. Whether a defendant or plaintiff, we provide excellent assistance with great expertise and professionalism. In addition to that, we strive to render the justice to our clients and we will push it to the limits for the better wellbeing of our clients’ compensation.

Tampa General Practice Attorney ütles ...

Are you involved in a car mishap and tired of handling all the paper works? Are you a victim of personal injuries due to the negligence of others? Don’t worry. The finest ​ »Tampa General Practice Attorney » is here to help you out. For detailed info contact us @ +1-727-410-8468.

top personal injury law firm ütles ...

Consulting with an injury attorney aftermath an accident is necessary as sometimes accidents can be a future threat. You must first reach Personal Injury Law Firms and hand over your case. But when to do this? You can do this when you are yet to meet the insurance officers. And this place, you will need an attorney to talk with law knowledge and demanding the settlement. And you need a lawyer if your injury is severe and if its a long term defect. It's them who can help you advising legally and get you the compensation that you deserve.

Tampa Car Accident Lawyer ütles ...

Nice information, thanks for sharing
Searching for an best tampa car accident lawyer? Call us @ +1-727-410-8468

Postita kommentaar