Start ups- legal work needed
For most start up businesses, there is a critical need to keep all costs to a minimum in order to make it through those first few tough years. However, with 20% of businesses failing within the first year it’s also crucial that a new business has a solid basis on which to build and that none of the key elements have been skimped on. As a result, this tends to be the time when expensive essentials, such as legal advice, are required and this can send budgets shooting up sky high in unpredictable ways.
Whether you’re looking for assistance with IT law, trademarks and patents or software law it can often be prohibitively expensive to take on the services of a legal professional on an hourly rate basis. However, the consequences of skipping essential advice at the beginning of a business can end up being a lot more costly in the long run. In particular, failure to protect business assets, development potential and innovations that are the key to the success of the business can be enormously damaging for a start up in future years.
So, for start ups where is the legal work needed?
1. Documentation. Different types of contracts, agreements, licences and the like can be an intimidating prospect without legal support. However, strong documentation is worth the investment as it will provide good groundwork and solid relationships for the future.
2. Protection. Particularly in the IT and creative sectors, protection of innovation and development is crucial, including copyright advice, obtaining patents or trademarks and considering licencing of apps and software.
3. Understanding the legal position. Negotiating the various legal frameworks for business can be complex and time consuming, but will ensure that a start up can hit the ground running and avoid the legal and regulatory potholes in the road ahead.
Law Hound has consulted with a number of start ups with legal work needed and offers a series of fixed price packages that cover essential legal needs for IT and creative businesses, without having to worry about ongoing hourly price rates. For smart start-ups looking to make sure that they tick all the legal and business advice boxes, without ending up in the red financially, Law Hound’s fixed price packages are the ideal solution. If you’d like to speak to someone about a great value package of legal and business advice you can contact us on 01244 300413.
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