Legal Advice For Business Start Ups
Legal Advice For A Business Start Up
For years you’ve had a burning desire to be your own boss and now you’ve had that fabulous idea which means you can turn your dreams into reality. You’re ready to finally take the plunge and start your own business. Now what?
I suspect you are feeling a mix of emotions – daunted, worried, optimistic, overwhelmed and above all else excited! I hope that my business start-up series can assist to put some of your worries, concerns and anxieties at ease.
During the next few months my series of hints, tips, lists, steps and suggestions about the things you may want to consider or investigate will hopefully get your business off to the best start. The topics I’ll be discussing will be:
What is in a name?
What are the factors to consider when choosing a business name including a charity? Included in this topic we’ll look at whether you need to register the name at companies house, is your business name available and free from challenge, the process for changing a name and the law relating to business names. I will also discuss trademarks and patents.
Choosing your business medium
Will you be a sole trader, a partnership, limited company or a private limited company? I will set out in detail what each medium is and how it may affect your business.
The difference between partnership and shareholder agreements
What does it mean to have a partnership or a shareholder agreement and when each may be suitable for your business? We’ll cover this in detail and what the implications could be for you.
The art of contracting
I will set out what is involved in contracting with a party, the types of clauses that are fundamental, those you may consider to be crucial and the ones that could prove onerous for your business. I will also set out a list of contracts that you may want to consider for your business.
Tools to protect your Brand Intellectual Property
You have worked hard to build up your business name, the service you provide, reputation; ultimately your brand. Here I will discuss how you can seek to protect the intellectual property that you have built.
To Franchise or not to Franchise?
Here I will discuss the option of franchising your business and set out the documents that may be useful if you decide to take this route with your business start-up.
Mediums of marketing and conducting business online
If your business will attract more interest with an online presence, there are considerations prior to setting up and launching a website that you are probably not aware of. I will explore these considerations and provide you with a list of suggestions to pursue this medium of conducting business as well as exploring the mediums of marketing you may choose to use.
Business Regulation, Accounting and Recording
These are particularly important aspects to consider for any business owner. Depending on the type of business you are there could be a number of business regulations you should be aware of. Fundamentally, unless you’re a charity, a business is set up to make profit. I will set out the types of regulations you may want to investigate and the types of accounting and recording that may be required for your business.
How to avoid or manage a business dispute and debt recovery
It is hoped that through open, honest communications, organisation and managing of expectations, business disputes can be avoided but this is not always the case. It would also be nice to not have business debts but the reality is that as a business owner you may encounter these issues, especially in the early days of a business start-up. I will provide you with some tools to help you avoid or manage a business dispute and suggestions and tips on your recovery options if you find yourself having to pursue a business debt.
I am hopeful that my business start-up series will provide you with some key considerations, helpful hints and tips to manage your business risk, assist in bringing your business idea to life and putting it on the right road to success!