In the past few decades, the concept of “startup” has firmly entered our lives, although, as practice shows, most people have a rather vague understanding of what it is. Thus, legal support for startups became a more popular request.
“STARTUP” IS A “YOUNG” COMPANY:
- working in the field of high technologies, and which creates a new product or service of a science-intensive nature;
- having a small number of employees united by a common idea and common values;
- working under conditions of high uncertainty and risk;
which is financed either by attracting private or corporate investors or through crowdfunding.
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How do lawyers help startups?
Very often, bearers of new ideas (startuppers) have little funding, so the costs of legal support for a project are usually limited. In such case, to the “usual” issues of launching a new IT business are often added by the issues related to the pursuit of investors and the legal formalization of relations between them and startuppers.
Lawyers may always provide a legal assistance for startups and help them to avoid risks or unnecessary from legal perspective actions: do not sign one-sided agreements with investors, lawfully obtain all intellectual property rights to its product, ensure the correct hiring of team members etc.
The Clients of VigoLex Company are:
- Startuppers – are individuals who are in ownership of a startup idea (as a rule, they are private entrepreneurs, IT specialists, inventors);
- Investors – individuals and/or legal entities interested in investing in a specific startup project or looking for a project in the IT field in which they are ready to invest.
Do startups need lawyers?
Startups need to focus on finding a business model and quality product development, which is why legal expertise is often left outside the scope of the project, even despite of its extreme importance. VigoLex helped us form the correct organizational structure, register intellectual property rights, organize payment processing, draft agreements with investors, contractors and counterparties. Everything done very competent and efficient.
Alexander Mahtin CEO in DimDim
How much do legal fees cost for a startup?
Amount of legal fees for legal assistance for startups always depends on the complexity of particular legal task. However, startups do not have legal tasks or issues on a daily basis. Thus, it is always advantageous for startups to pay for legal services on a case-by-case basis that to hire a full-time or part-time in-house lawyer.
How we can help?
VigoLex is ready to provide both categories of Clients with the following legal help for startups:
- Pre-project consulting – analysis of a startup project for legality.
- Development and implementation of the corporate structure of a startup project or optimization of an existing one.
- Legal help for startups in developing a financing scheme for a startup project (legal formalization of the deposit of funds by the participants of the company, attracting investors, obtaining loans, crowdfunding, access to ICO).
- Legal formalization of legal relations between startuppers and investors, both in terms of financing, distribution of shares in the company (or in the company’s income), and in terms of intellectual property rights, etc.
- Legal registration of intellectual property
- Legal support for startups, namely continuous legal support of economic activity of the company engaged in a startup project (tax planning and taxation, legal formalization of labor and civil relations with employees and hired specialists, office rent, etc.).