By: Shireen Smith
Before considering a budget for services such as Outsourcing, Trademark or Patents even, I’d like to give you some pointers based on my experience of advising startups of all types over the last 15 years.
Businesses tend to change radically in the early years so that a few years after starting up, many look nothing like their initial manifestation.
Sometimes this can be because as they get market feedback on their concepts their ideas develop and they pivot. Or it may be that new businesses don’t know what it is exactly that they do, and who they do it for. Even professionals, like lawyers and web designers, who you would think know pretty clearly what they do, struggle with this.
Startups, therefore, take time to find their feet.
For this reason, I would counsel against spending too much money on anything, be it design, legal fees, or otherwise. As the business gradually achieves clarity about the demand for its goods and services, and figures out which services will generate revenue, and responds to the market, its offering and niche will change.
Early phase legal work
Early phase legal work can therefore often be of temporary benefit only.
Yet what happens in practice when a start up chooses lawyers is that a price is set for the various documents or services the lawyer considers the business needs. This might include a trade mark, terms of business, a website development agreement, documentation for the website, and anything else that is particularly appropriate for a given type of business.
The value a good lawyer can offer to startups goes far beyond the provision of documentation or a particular legal service.
It may be that you could save by using templates and do your own drafting to implement the necessary documents for your business.
Read more >> https://azrights.com/media/news-and-media/blog/2019/07/intellectual-property-business-advice-for-startups/
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