The legal aspects when organizing a start up or undertaking a project are not usually among the priorities of the teams of entrepreneurs. There are so many aspects that seem to be priorities, the ideal, the business plan, the marketing plan, the investors, the product etc … The legal aspects of our activity and the internal organization in legal terms are often left unattended. However, sooner or later the legal aspects appear in the horizon of the entrepreneur and the questions regarding how I organize, I am complying with the law, which contracts I have to sign with my suppliers or clients inevitably arise.
It is a mistake to believe that “legal” and business plan are two separate things. Legal aspects should be included in any business plan. Issues such as my relationship with my partners and investors, my relationship with clients, the potential risks I face at the legal level or my strategy to protect my business model are essential for any start-up business. On the other hand, when it comes to going to investors in search of financing, a project that is clearly defined and analyzed from the legal point of view is much more attractive than another in which everything is to be done.
But how to manage all these aspects without getting lost along the way? We need a strategy that allows us to establish the legal structure of our business and allows us to define the most important areas that we must deal with our lawyer.
By following these simple steps any entrepreneur can create the basic legal structure of their business.