Let’s face it, most entrepreneurs break all kinds of rules (the law is no exception). Starting a business is risky and time consuming; when your immediate survival is determined by your burn rate, the quality of your product, and time to market, it is easy to overlook or even knowingly ignore legal niceties.
The thing of it is… investors want something tangible to hold onto. You won’t get very far with “we’re buddies so it is 50/50” or “we’ll figure out who owns what later”. Partners will also grow anxious without some formality and structure. Adhering to a few best practices may very well determine the near (and long) term prospects of your endeavor.
Next Tuesday (November 13) from 12:00 – 1:00 PM EST, Cognition LLP‘s Joe Milstone will be hosting a free webinar on legal issues startups can?t ignore but often do. Well worth your time to listen in and listen up.
What legal issues have you knowingly ignored in your startup? Post your (anonymous) responses in the comments.
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