Startup Legal Advice: 5 Rules for Founders to Protect Themselves
Read startup legal advice and protect yourself now to avoid pain and legal wrangling later.
Ryan Bowers, founder of RFPattorney.com, offers startup legal advice in a guest post at VentureBeat.
Bowers concedes that the law “is just about the last thing you want to talk about when you are getting your startup off the ground,” but he says that “remembering a few simple legal protections can save a lot of headache later on.”
He offers five rules for startup founders to follow to protect themselves, starting by “making sure your equity is clearly stated in writing.” After that, keep your business assets separate from your personal assets, otherwise “your corporate form…should be disregarded as fictitious,” and “you could then be sued personally.”
If you’re running a tech startup, “intellectual property is likely your most valuable asset,” so “have everything assigned to your company, and get it in writing.” Read the full post for all of Bowers’ startup legal advice and protect yourself from day one.