Are you concerned about navigating legal matters as a startup founder? In our latest expert's insight, Vittorio De Vecchi Lajolo, an attorney at THOMAS RAe - Startup-Lawyers.de, shares crucial advice on legal fundamentals for founders.
“Consult a lawyer before starting,” might not be a surprising comment to hear by a lawyer, as it stresses the need to grasp legal basics to safeguard your startup and ensure correct setup from the outset. But Vittorio emphasizes the “why” in more detail. 💡
Acknowledging that mistakes happen, he underscores the value of documenting motivations behind decisions, e.g., related to data protection. This practice proves crucial if an audit occurs, allowing you to justify your approach or at least show that you've carefully considered your actions. 🔐
Vittorio delved into topics such as choosing the right legal structure, protecting intellectual property, drafting essential contracts, and understanding regulatory requirements. These insights are vital for avoiding potential mistakes and legal pitfalls that could hinder your startup’s growth. 🫣
By addressing key legal aspects early on, you can build a strong foundation for sustainable business growth and focus on what you do best, that is to innovate and scale your venture. 🥳
What do you think are the most crucial legal pitfalls that startups should be aware of?
