Startup Key Stages for Legal Services
This is the first layer we have added on top of Startup Key Stages in collaboration with LawBite, an online legal platform that aims to address the issue of inaccessible law for SMEs.
Our common aim is to bring more transparency and efficiency to entrepreneurs and startups in regards to legal aspects, providing legal resources and services for entrepreneurs at every stage in the startup journey. By introducing this simple legal layer, we aim the startup entrepreneurs never get lost with legal aspects and get right services to time they are presently in.
As a "work in progress" framework, we are always open to your suggestions and ideas and we encourage you to help us to develop and improve it further.
Our common aim is to bring more transparency and efficiency to entrepreneurs and startups in regards to legal aspects, providing legal resources and services for entrepreneurs at every stage in the startup journey. By introducing this simple legal layer, we aim the startup entrepreneurs never get lost with legal aspects and get right services to time they are presently in.
As a "work in progress" framework, we are always open to your suggestions and ideas and we encourage you to help us to develop and improve it further.
Ideation
Reviewing IP – will there be potential for trademarks, patents, design rights, database rights, copyrights?
Reviewing potential structure – sole trader? Limited company? Traditional Partnerhip? Limited Liability Partnership?
Will funding be required? If so what kind of funding would be most suitable? Loans? Equity Funding?
Will software need to be developed – if so by whom?
Reviewing potential structure – sole trader? Limited company? Traditional Partnerhip? Limited Liability Partnership?
Will funding be required? If so what kind of funding would be most suitable? Loans? Equity Funding?
Will software need to be developed – if so by whom?
Concepting
Checking applicable registries for naming rights in relation to the entity’s proposed trade names (eg trademark registries, Companies House, domain name registries)
Setting up structure – implementing decision as to sole trader/limited company/partnership structure. Complying with formalities (eg registering any new entity with Companies House, filing resolutions, appointing Directors)
Negotiating terms of shareholder agreement and any option scheme
Setting up structure – implementing decision as to sole trader/limited company/partnership structure. Complying with formalities (eg registering any new entity with Companies House, filing resolutions, appointing Directors)
Negotiating terms of shareholder agreement and any option scheme
Commitment
Shareholder Agreement to be agreed and signed
Option scheme initiated
Agreeing terms for seed funding and signing agreement(s)
Any corporate formalities associated with the above (resolutions, filings at Companies House, etc)
Agreements with employees and/or consultants
Implementing decisions made in relation to IP (eg registration of trademarks, filing of patent applications)
Negotiating and agreeing any software development agreements (eg for website or products)
Appropriate insurance policies in place e.g. Errors and omissions, employer liability etc
Addressing any online trading issues e.g. Website Ts and Cs, cookies, privacy policy
Option scheme initiated
Agreeing terms for seed funding and signing agreement(s)
Any corporate formalities associated with the above (resolutions, filings at Companies House, etc)
Agreements with employees and/or consultants
Implementing decisions made in relation to IP (eg registration of trademarks, filing of patent applications)
Negotiating and agreeing any software development agreements (eg for website or products)
Appropriate insurance policies in place e.g. Errors and omissions, employer liability etc
Addressing any online trading issues e.g. Website Ts and Cs, cookies, privacy policy
Validation
Negotiating and agreeing trading agreements for;
Compliance with Regulatory issues - eg Data Protection, Consumer legislation, Industry regulation and codes
Further funding agreements for Series A funding
Option agreement implemented
Agreement on and appointment of Non execs/Advisory Board
Negotiating and resolving disputes (whether internal or external) and whether using Mediation, Arbitration or traditional court methods
Further funding agreements for Series A funding
Negotiating and resolving disputes (whether internal or external) and whether using Mediation, Arbitration or traditional court methods
- Manufacture
- Distribution
- Agents
- Introducers
- Sales
- Licensing
- Joint ventures
Compliance with Regulatory issues - eg Data Protection, Consumer legislation, Industry regulation and codes
Further funding agreements for Series A funding
Option agreement implemented
Agreement on and appointment of Non execs/Advisory Board
Negotiating and resolving disputes (whether internal or external) and whether using Mediation, Arbitration or traditional court methods
Further funding agreements for Series A funding
Negotiating and resolving disputes (whether internal or external) and whether using Mediation, Arbitration or traditional court methods
Scaling
Many of legal aspects of validating repeated but multiple times and with greater consequences
Negotiating and agreeing trading agreements for;
Compliance with Regulatory issues – eg Data Protection, Consumer legislation, Industry regulation and codes
Further funding agreements for Series B funding
Negotiating and resolving disputes (whether internal or external) and whether using Mediation, Arbitration or traditional court methods
International development – through franchising, licensing or establishing of local entities – repeat stages 1-3 for local operations overseas
Negotiating and agreeing trading agreements for;
- Manufacture
- Distribution
- Agents
- Introducers
- Sales
- Licensing
- Joint ventures
Compliance with Regulatory issues – eg Data Protection, Consumer legislation, Industry regulation and codes
Further funding agreements for Series B funding
Negotiating and resolving disputes (whether internal or external) and whether using Mediation, Arbitration or traditional court methods
International development – through franchising, licensing or establishing of local entities – repeat stages 1-3 for local operations overseas
Establishing
Purchase or acquisition of other entities as the company grows
IP renewals
Establishing new products/services/sectors requiring repetition of steps 1-4 above
Exit agreement for founders through share or asset sale
Due diligence
Warranties
IP renewals
Establishing new products/services/sectors requiring repetition of steps 1-4 above
Exit agreement for founders through share or asset sale
Due diligence
Warranties
