Timestamps:
1:50 - What mistakes do Swiss startups make repeatedly when it comes to the legal aspect?
10:54 - How to get out of a tricky contract
26:30 - How to handle investors
40:00 - HR: attracting and retaining talent
48:50 - Should you have a strong legal partner on your side?
The Episode In 60 Seconds
There are 5 legal areas every startup should have covered:
Corporate law
- Have a clear agreement in place of how the departure of a co-founder would be handled.
- Critically look at shareholders agreements and make sure you understand the implications in case of an exit.
Contract law
- Make sure that any IP produced for you by a third party will also belong to you.
- Always read contracts before signing. In the B2B business, there is no 30 day return policy.
- Ensure liability caps on sales contracts in case your product causes unintentional harm to your client.
Regulations
- Be aware of how tougher privacy and data protection laws affect you and your business model.
- Know which sectors you need special licenses for.
HR law
- Make sure your employee contracts contain a provision for IP created by employees.
- Sign any employee contract by hand.
- Consider employee stock option plans.
Intellectual property
- Software is usually protected by copyright rather than patent law. The only way to effectively protect your code is by not disclosing it.
- For hardware, be aware of existing patents and consider patenting yourself.
- Consider protecting your company name if it is crucial for your business.
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