Jun 9, 2022
Founders have a tendency to avoid seeking legal advice in the early stages. That is completely understandable considering the limited resources they have. However, this could lead to compliance issues down the road.
From the outset, the cost of legal advice can seem really intimidating, but it is always more expensive to fix what has not been done right. Fixing legal mistakes can be significantly more expensive than being compliant.
In today’s episode, we discuss five common mistakes early-stage startups make and some ways to avoid those to set your company up for compliance success.
If you have any concerns about compliance, it is best to reach out to an attorney who can help you navigate this because there can be catastrophic consequences for non-compliance.
Building a relationship with an attorney who's experienced in these issues can help you avoid the mistakes that most startups make because there are consequences, and they come with a hefty price. Ultimately, a good lawyer can help you strategize, mitigate risks, and help you make the most informed business decisions.
In this episode, you will hear:
- Relying on trust between founders instead of legal documents
- Having a clear tiebreaker when making decisions
- Failing to choose the right corporate structure
- Not respecting trade secrets and intellectual property
- Not paying your employees properly
- What happens when privacy is not built into your startup from the beginning
- The role and value attorneys provide when it comes to startup compliance
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Supporting Resources:
Email: Hannah@cgl-llp.com
Episode 027: Key IP Issues for Startups
https://cgl-llp.com/podcasts/episode-027-key-ip-issues-for-startups/
Episode 29: Minimum Wage Requirements
https://cgl-llp.com/podcasts/episode-029-minimum-wage-requirements/
Episode 33: ICs in California
https://cgl-llp.com/podcasts/cgl033/
Episode Credits
Script drafted with help from Obiter Marketing
If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com.