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
Subscribe and Review
Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. Each week, we share authentic discussions with business leaders where they flesh out substantive issues while also getting deeper into their stories. We’ll dive into conversations on the fusion of business and humanity, success and authenticity, and the challenges of balancing life and work, in addition to regularly sharing legal updates and substantive content.
We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
Episode 027: Key IP Issues for Startups
Episode 29: Minimum Wage Requirements
Episode 33: ICs in California
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.
The materials available at this website are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Use of and access to this website or any of the e-mail links contained within the site do not create an attorney-client relationship between CGL and the user or browser. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney.