New & Young Businesses
We have extensive experience in assisting new and young organisations to develop their business ventures.
Making the decision to start your own business often requires a leap of faith, having made that leap of faith ourselves, we understand the challenges, and how this is both a daunting and exciting opportunity.
Once you have your business concept, there are many other aspects to consider before launching your business. We can assist and advise you in analysing the specific issues which are relevant to your business,and help you identify the best options to protect your business and minimise your risk;
Legal Entity
Should your business operate as a Ltd Co, sole trader or another type of legal entity, such as a Community Interest Company. We can advise you of the pros and cons of each option and which best suits your business model.
Confidentiality
In the early stages of developing your business , you may need to speak to a variety of organisations, for research purposes, obtaining quotes, seeking investment or just to help you develop your business concept / model. In certain situations it is important to sign a confidentiality agreement or NDA with these organisation prior to any discussions. You do not want someone to proceed with your business concept before you do. NDA's are fairly standard documents and a commonly used.
Intellectual Property Rights (IPR)
All businesses create IPR, the question is whether or not your IPR is an essential part of your business. Some questions you should consider are; do you need to protect your IPR prior to launching your business; Is branding an essential part of your business; Does your business need to register and IPR, ie design rights in a new product, or registering a trade mark.
Building a Team
Many people start their business on their own, but for some businesses that's not possible, or the business develops quickly and you need additional resources to help you. There are a number of options to engage the relevant resources. The most common options available include, hiring employees, engaging consultants and using service providers (such as solicitors, accountants, IT support). There are pros and cons of all of these options and there are legal and financial implications that may mean some of the options are not possible. We can assist you with evaluating the best option for your business
Premises
If your business requires premises, then it is strongly advised that you obtain legal advise prior to signing any lease. There are many hidden costs and obligations that you need to understand before agree to landlord terms.
Sourcing Products
If your business requires you to purchase goods or raw materials then you need to understand where your supplier is sourcing these products from. There are numerous pieces of legislation and international standards which may impact where you source your products from, it is not acceptable to say that you are not accountable for where your supplier sources your products. Companies are required to demonstrate sustainable and ethical sourcing, and failure to do so may result in fines but more importantly damage your business reputation. In order to protect your business it is highly recommended that you have suitable contracts in place with all suppliers and manufacturers.
