Startup founders need some legal skills.

Here’s a list of skills to bring to your startup:

1. Legal Entity – ability to set up an LLC or C-Corp for your business with proper articles of incorporation.
2. Cap Table – ability to set up the cap table with initial ownership of the founder, co-founder, and seed investors.
3. Trademark – ability to trademark the company name. 
4. Web Domain – ability to find and register the company domain name.
5. Family and friends funding – ability to take funding from non-accredited investors with SEC compliance.
6. Tax IDs – ability to set up a bank account with tax ID information for the company.
7. Employee vs. Contractors – ability to distinguish between an employee and a contractor for classification and tax treatment.
8. Legal Support – ability to identify the proper legal support needed for contract law, employment law, and other.
9. Legal Documents – ability to set up employment agreements, contracts, stock options, and board and shareholder resolutions and reports. 
10. Intellectual Property – ability to file a provisional patent in advance of filing design and utility patents.
11. Terms of Service – ability to create terms of service agreement for clients and customers.
12. Employment Agreement – ability to create an employment agreement with confidentiality and invention assignment contracts.
13. Recruiting requirements – knowing how to avoid asking questions that are prohibited by law.
14. Firing employees – ability to know how to fire an employee staying within legal requirements. 

For startup founders, these are the basic skills you’ll need to master to run your business in the early days.  

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.

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Disclaimer:
Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.