The business world is quickly changing. Technology moves at an ever greater pace; and worldwide connectivity has brought upheavals across all markets. With the Government-funded “Ideas Boom“ now gaining traction, the stage is set for a whole new era of start-ups and innovators.
Some examples of essential considerations for Start-Ups include:
- Robust and clear contracts for goods and services supplied;
- Intellectual property protection;
- Appropriate company structuring;
- Asset protection;
- Liability risk management;
- Employment Contracts;
- Employee Share Schemes;
- Venture Capital Arrangements;
- Exit strategies;
- Memorandums of Understanding with trade partners;
- Lease reviews; and
Obviously, each Start-Up is different. This is why we believe initial face-to-face conferences are essential to get a feel for your business and determine your need. While we offer consultations in our Brisbane office, we are also one of the few Australian firms that offer Skype conferences to Start-ups as an alternative. If you are interested in an initial consultation, please get in touch with our Business Development Team here.
We have noticed there can be a tendency to postpone legal considerations until you feel the costs can be justified. However, a large percentage of our work comes from business owners who postpone and run into trouble six months to a year down the track. This can be avoided by setting up correctly in the first place.
The “Ideas Boom”
On 7 December 2015, Prime Minister Malcolm Turnbull MP announced a new era of start-up and small to medium enterprise (SME) development and funding. Our Start-Up team have been reviewing all legislation and material as it becomes available, and are well versed in the emerging areas. Aspects we can advise on relative to the new opportunities include:
- Crowd Sourced Equity Funding
- These allow start-ups to source capital through “crowd funding”. The law and mechanisms surrounding this are quite complex, but it will be an incredibly powerful tool with great potential.
- Venture Capital Limited Partnerships
- These allow financial supporters of a start-up significant tax exemptions; which can be a powerful incentive to attract investors.
- Preparing Digital Marketplace launch
- Access to Company Losses
- “Incubator” Support Programmes
- Changes to Insolvency Law
- Intangible Asset Depreciation
- Employee Share Schemes (ESS)
- Employee share schemes (ESS) are usually offered to employees for the dual purpose of aligning their interests with that of the company, and allowing cash-poor companies (especially start-ups) to propose incentives beyond a traditional salary
We offer services across the whole landscape of business, including many fixed fee services. These include:
- Strategy and Structure
- Terms and Conditions of Trade
- Intellectual Property
- Confidentiality Agreements
- Contract Negotiation and Documentation
- Privacy Policies
- Partnership and Shareholder Agreements
- Purchase of Business
- Purchase of Shares
- Commercial and Retail Shop Leasing
- Loan/Funding Agreements
We also offer a free range of resources and articles to Start-ups. The most recent can be found below, or find the complete library of resources here.
Thinking of getting a start-up lawyer?
We’d love to talk to you. Call 07 3252 0011 and ask to speak with our Business Development Team – they’d be happy to listen to your challenges – and see how we can help you. They’ll be able to arrange an appointment for you with one of our commercial lawyers, too.