Legal Help for Growing Your Business

  • 22 Mar 2022

Legal help for growing your startup

If you are in the market for legal help for growing your startup, you should look into legal partnership agreements that offer free legal services from legal plan attorney networks. What’s unique about these networks is the fact that they have a network of attorneys all specializing in 6 different areas that are relevant to your business. These areas include Liability, Directors & Officers, Coverage/Bad Faith, Cyber, EPL/Labor & Employment, ERISA/Fiduciary, and Financial Institutions. As you can see from that list, it provides an umbrella that pretty much covers the gamut of issues that a start-up will need not only consultation on but in some cases representation.

Why legal help is necessary?

Well, as you may already know, sometimes well intended decisions and actions have legal ramifications. This could be due to misinterpretation, misrepresentation, lack of giving credit to others, and so on. Having a legal team in your corner for brief consultations as you move from planning through implementation of your start-up’s business plan, will save you a lot of time, energy, and money spent on legal fees.

Legal help within your start-up can address many issues including creating the initial agreement with the founders. These agreements are crucial because they establish how much ownership each of the founders has and it spells out their responsibilities and obligations. Attorneys will also help in creating the rules that govern the hiring and firing of a founder (if possible) and hiring of other potential employees. In addition, labor laws are honored including practices that legally challenge nepotism.

Legally protect the brand

Furthermore, the attorney will craft and/or review the agreement pertaining to leasing the space where the business will be housed. Equally important, the attorney is also tasked with protecting the brand. This includes providing insight and guidance on trademarks, copyrights, raising capital, etc. Any actions that could result in legal action, should be protected. Even as the start-up is raising capital, there needs to be a level of protection to ensure that the methods of obtaining capital are ethical and legal. This is crucial because it usually doesn’t come to light until 5-10 years later when the company is doing very well financially, that there was a legal mishap in obtaining and/or allocating funds. When you get to the top, you only want to enjoy the success; and that is what you will pay the legal team to help ensure for you early on in the process.

In closing, legal help with start-ups is imperative. Explore networks of attorneys specializing in multiple areas of expertise that would benefit your startup. Also, consider exploring networks that specialize in working with start-ups.