Start-Up: The Legal Essentials - X-Forces Enterprise
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Start-Up: The Legal Essentials

Start-Up: The Legal Essentials
Start-Up: The Legal Essentials

When starting a business there will be lots of exciting and rewarding things you will be looking at, whether it be logo design, website development, funding, product development or company structure.

It is important that you consider everything from a legal perspective as well as a commercial or financial perspective. It is essential to surround yourself with knowledge and professional support where needed, including lawyers, tax advisors and accountants who can give advice and guidance on areas that may be outside of your skill set so you can focus on pushing your company forward.

Legal entity

There are several ways in which you can set up your business including:

  • Sole Trader
  • Partnership
  • Limited Liability Partnership
  • Limited Liability Company
  • Each company structure has its pros and cons, as an example an advantage of a Limited Company is that it has its own legal standing which protects you and your assets should things not go to plan.

    Name

    When starting a business, the name you are choosing is probably one of the first things you have thought about and it’s really important to get it right from a commercial and a legal perspective. Commercially you will need to think about whether there are domain names available as well as how catchy and memorable it is alongside how well it represents your products or services.

    Legally you will need to consider if your company name can be registered as a protected mark and if there will be any issues with potential intellectual property claims. It is advisable to run intellectual property checks early on to avoid a possible rebrand or loss of any goodwill. You can also protect your name, logos and any slogans to guard against possible infringement.

    Website

    It is of course important to have a suitable, eye-catching website for your website to promote and showcase what you do, however there are also legal considerations you need to explore including:

  • Website terms and conditions
  • Privacy policies
  • Cookie policies
  • Disclaimers
  • Finally, you need to be clear on your processes and administration including all your records with Companies House and anything relating to HMRC and Tax. You will also need to consider GDPR policies for web data as well as staff and client data.

    To find out more please join us on our Military in Business® Virtual Networking Event on 24th August. We're delighted to confirm that our keynote speaker for this event is Rina Sond, a hugely experienced commercial lawyer. For many years Rina has advised start-ups, entrepreneurs and SMEs on a range of business matters, including commercial contracts, IP/brand protection issues, confidentiality and non-disclosure agreements, e-commerce and more.

    When starting a business there will be lots of exciting and rewarding things you will be looking at, whether it be logo design, website development, funding, product development or company structure.

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