Hiring a startup lawyer should be the first thing you should do for your business. There are a couple of reasons for this, including understanding how to set up your business properly. It is also important to ensure that your startup is protected and has the appropriate contract terms in place.
When you start a new business can be tempting to focus only on your services or goods. But it’s also important to think about the bigger picture. For instance, think about who you are selling to, and whether your goods and services are risky. And, you also need to think about how to prevent problems from cropping up in the future.
A startup business contract lawyer can help you to identify those problems and try to prevent them or manage them if they do come up. This is why hiring a startup lawyer should be the first thing you do when you create a new business. But also, if you’ve been trading for a while, it’s never too late to speak to a lawyer that’s familiar with new businesses, or ones that are growing.
Now let’s take a look at why a startup lawyer should be your first hire.
A startup lawyer can write contracts for your business
Let’s face it, contracts are complicated. Even if you as the business owner understand how contracts work, having a contract that is easy to use and easy to read benefits both you and your customer. Here at Prosper Law, we pay attention to the details and we also prepare contracts that are simple. They’re written in plain English. And anyone that picks up the contract can easily understand what is being agreed to.
Further, not all contracts are the same. For example, some start-up businesses may operate in a space that is governed by Australian Consumer law. If that’s the case, the contract needs to be carefully written. Because you cannot contract out of the Australian Consumer Law, the contract terms need to take this into account.
On the other hand, the startup business may sell business-to-business. If it is an arrangement that is not governed by the Australian Consumer Law, the contract may still need to take into account the unfair contract terms laws. If you’re wondering why this is important, this helpful article about the unfair contract terms laws can help. It’s also important to know that soon these laws may be changed. And businesses that include unfair contract terms in their contracts may be penalised.
Is hiring a startup lawyer going to add value to the business?
The answer to this question is yes. You don’t need to spend thousands of dollars to hire a lawyer. In fact, Prosper Law only charges fixed fees (unless you really prefer hourly rates). This means that any new business will know exactly how much they are going to pay for the legal services.
Adding value to a business can take many forms, including:
- having a subject matter expert do the hard work so that you can concentrate on running your business.
- identifying risks and trying to prevent or manage them.
- managing disputes, including employee issues.
- setting up new customer terms so that your business is set up for success.
- making sure that your competitors cannot move into your space and misuse your brand.
- giving you advice about your marketing and advertising techniques say that they are legally compliant
As well as a host of other things that might be important to your business, industry or customers.
Startup lawyers can help small businesses to manage growth
You might want to think about hiring a startup lawyer when your new business experiences growth.
There are a number of problems that can show their ugly head when new businesses quickly grow. I’ve personally helped business owners manage employee issues that have only become apparent after there are lots of employees on board.
In one instance, the business had lots of employees but their employment contracts were not well written. This left the company exposed to paying more money to its employees than it thought it had to. It also exposed the business to potential issues around the employees’ ownership of the intellectual property owned by the company.
Further, how a business manages its customer complaints and other issues changes as a company grows. You may not have the time to deal with customer issues yourself. If that’s the case, you need to make sure you have a clear outline as to how employees should handle issues. It should be done so that the customer relationship is preserved, but also so that the business does not breach the law.
How can Prosper Law help?
Prosper Law is Australia’s online law firm. We provide legal advice to businesses and individuals across Australia. Our areas of legal practice include contracts, eCommerce, publishing, legal counsel and employment law.
If you need to talk to a startup lawyer, get in touch today.
Contact the team at Prosper Law today to discuss how we can provide you with [insert] legal advice for a fixed fee or at affordable hourly rates.
Farrah Motley | Director
P: 1300 003 077
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