There's a reason a new business is called a "startup." You've got your vision and you want to launch it as soon as possible. However, before your "launch date" there may be a few legal issues to consider.
Here are 3 tips to make sure your launch is successful:
1. Don't Rush to Launch!
We understand - you want to launch while the fire is hot. But rushing your startup could have you stuck instead. Before you open your doors, make sure you've taken care of any liability and compliance issues, and make sure your startup is choosing the right corporate structure.
2. Can Your Former Employer Sue You for Launching Your Startup?
If you came up with your idea while working for someone else, are you sure that you can take your idea out the door of your former employer? You'll need to review any non-compete clauses or non-disclosure agreements before you launch.
3. Do You Have the Proper Legal Documents?
There's more to launching your startup than just opening the doors. Not having the proper operating agreement, articles of incorporation, non-disclosure agreements, and stock purchase agreements may break your business.