Every single startup is unique and will need to take that into account when getting their business
That being said, there are several things you should consider doing before getting users on board.
1. Ensure you have a legal consultation:
No traditional lawyer will give you a free legal consultation. Not anymore anyway.
Here at Linkilaw, we are all about helping startups understand their unique legal obligations to help them grow.
We developed the, a completely FREE service.
It is a chance for you to sit down, or call, a trained legal startup specialist. They will ask you a series of questions to get to know your business. After that they will inform you of what you need to do to ensure your startup is legally protected. It is a bespoke service.
You will go away with a legal blueprint of what exactly you need to get sorted along your way to startup success. All within 20 minutes and without your bank card being used.
2. Business Formation:
You need to do some research and find out exactly what business structure best suits your business model. You need to take into consideration, amongst other things, the tax law in your country, the rules on filing annual reports and to what extent you want to limit your liability.
3. Get a Terms of Business Drafted:
Terms and conditions (also known as terms of trade), whether they apply to sales or services, are essential to your business as they set out the level of responsibilities that apply to you and your customers.
4. Get a Terms and Conditions for your Website Drafted:
Website Terms and Conditions (not to be confused with Terms of Business) explain how your website is to be used. They are a contract between you and your website visitor outlining the relationship between the two of you while they use your website. Among other things, they explain what users can and can't upload, how you use and process payment through the site, and where the customer can find your privacy and cookie policies.
5. Privacy Considerations:
Privacy andCyber Security laws is changing rapidly and shaping the way startups have to protect themselves legally. You should need to getdepending on what jurisdiction you're in to ensure that your business model does not breach privacy laws in your country.
6. Get Your Intellectual Property Protected:
If you're starting a business, it is incredibly important to protect your brand, inventions and written material. Think Trademark, Copyright and Patent. This allows your brand to become identifiable over time and prevents your competitors from using your features in the future.
7. Employment Contracts:
No man is an island. Every single startup needs help. However when you begin hiring your team you need to get contracts drafted between your employees and your business. They tend to include a start date, job title, description, place of work, probationary period, disciplinary procedures, salary and expected hours of work.
8. Get a Shareholders Agreement Drafted:
Now that you've decided to bring on a co-founder, you may forget that you need to to apply prevention measures to solve complicated situations that could occur. You can do this by regulating your relationship with your co-founder, or investor, by getting a Shareholders' Agreement drafted.
9. Get an Accountant:
Depending on what business structure you choose, the majority of them require the filing of annual accounts. If you're not a maths whizz then I would strongly advise getting an accountant to do it for you. If you cant afford one, look into hiring a Xero accountant or accountant who specifically deals with startups.
10. Get a Freelancer Agreement Drafted:
Lots of startups nowadays cant afford to hire an internal design, engineering or coding team. To prevent disputes in the future you need to ensure that an contract is drafted to regulate your relationship. Common clauses tend to include: pricing agreements, invoicing procedures, Intellectual Property ownership, expected hours worked, completion date.
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