4 Legal Tips for Startups

The number of entrepreneurs who decide on the formula of creating a startup to launch their business idea is increasing. A business model that better than any other represents a project for the future. At AKELA we know that the moment of starting is as exciting as it is delicate. Without a doubt, these legal tips for startups will help you successfully get through your project launch.

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What Are Startups?

It is not bad to start by remembering that the term startup refers to a specific type of company. It is a recently created business that uses ICT intensively to market its products/services, with a scalable model of rapid and sustained growth.

Startups have the advantage of needing a much lower initial capital investment than conventional companies, thanks precisely to this commitment to relying on new technologies that lower certain costs. Hence, they are the preferred formula for young entrepreneurs.

4 Keys To Creating A Startups

You have a project, you have enough momentum to give it shape and you have enough means to undertake this initial stage. Perfect! But, surely you lack the legal and business knowledge to avoid making mistakes when making decisions about the creation of your startup. These are the five fundamental aspects that you should pay attention to.

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  1. Financing

Although we have pointed out that one of the factors that make startups so attractive is that a significant capital investment is not required, that does not mean that the issue of financing is not key. S aber exactly what the financial needs of your project passes conduct a market study and a business plan.

It is important that you have liquidity to face start-up expenses without stress. It will be of great help to take advantage of the available grants or contact the so-called business angels (investors).

  1. Corporate formula of the company

Depending on how you resolve the issue of financing, this is how it will be convenient for your company to adopt the form of a Limited Company, autonomous, or another legal solution . Once decided, you will have to define the articles of association and sign the partners’ agreement, depending on the case.

  1. Administrative and documentary requirements

All the previous decisions imply the obligation to carry out certain administrative acts. Among the essentials:

  • Carry out the public deed
  • Register the company in the Mercantile Registry
  • Request the CIF
  • Request the registration of the Economic Activities Tax
  • Recognition of patent, copyright or trademark protection as appropriate.
  1. Data Protection Policy

Compliance with this legislation affects all companies and freelancers, but it is especially important for new digital businesses that are based on direct contact with end users or on the exploitation of databases. The  failure of the RGPD  carries penalties associated with not inconsiderable, one more reason for you counsel in this matter and take all steps to adjust your company to these procedures

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