Starting up leanA LAWYERS TIPS
Starting up lean. A lawyer’s tips
BULLETPROOF on a BUDGET
Pre-launch Structuring Recruitment,
Employees & Contractors
Protecting your business online
Engaging Offshore Staff & Developers
Social media Office Space,
Landlords & Virtual Options
Building Systems and Risk Triggers
Trademarks, Copyright & IP
Succession & Exit Planning
Starting up lean. A lawyer’s tips
PRE-LAUNCH
1. Lifestyle
2. Business planning
3. Cashflow Forecasting
4. Insurance whilst employed
5. Don’t jump too soon
Starting up lean. A lawyer’s tips
STRUCTURING
1. Asset Protection
2. Costs & Maintenance
3. Tax Considerations
Starting up lean. A lawyer’s tips
RECRUITMENT, EMPLOYEES & CONTRACTORS
1. Recruitment 2. Induction of Employees 3. Employment Agreement 4. Interns5. Fair Work Australia6. Contractor Agreement
Starting up lean. A lawyer’s tips
PROTECTING YOUR BUSINESS ONLINE
1. Privacy Policy2. Terms of Use on Website3. Australian Consumer Laws4. Brand Reputation
Starting up lean. A lawyer’s tips
ENGAGING OFFSHORE STAFF & DEVELOPERS
1. Fiverr, Upwork, BPO in Philippines, India, etc.
2. Terms to watch – data storage, security measures, intellectual property, termination costs, liability and value of indemnities
3. Create new passwords & minimise access to personal information
4. Must note this in Privacy Policy – Australian Privacy Principle 8
5. Engage local company to manage Virtual Assistants
Starting up lean. A lawyer’s tips
SOCIAL MEDIA
1. Recruiting Staff via Facebook or Linkedin2. Creating a ‘tribe’ online & rules for
engagement on your page3. Liability for content on your business
page & defamation4. Have Social Media Policy 5. Be careful of misleading statements –
ACL6. Look at what employees are posting
before employing them
Starting up lean. A lawyer’s tips
LANDLORDS & VIRTUAL OPTIONS1. Review leases for clauses on fit-out costs and
reimbursement, assignment and change of control, refurbishment, demolition and centre redevelopment, security deposits and personal guarantees
2. Keep conversations in writing with landlords, or confirm in writing afterwards, and do not withhold rent for other issues
3. For virtual options, check add on costs, early termination costs, printing costs, call answering charges, personal guarantees
4. Maintain low burn-cost until business really needs an office
5. Keep company registered address on ASIC & ATO updated
Starting up lean. A lawyer’s tips
BUILD SYSTEMS & RISK TRIGGERS
1. Operations Manual – use automation and document all steps
2. Build triggers in to identify risks, create business continuity plan and disaster recovery plan. Train staff and contractors on it.
3. Put critical dates in calendars (lease, contracts, BAS, insurance and registrations)
4. Have Media Policy
5. The Bus Rule
Starting up lean. A lawyer’s tips
TRADEMARKS & COPYRIGHT
1. IP Australia – register your trademarks
must be distinctive and identify you, not just be a common word
Videos on www.ipaustralia.gov.au
2. Copyright – use © 2017
3. Ensure employment agreements, contractor agreements and developer agreements have IP vesting in your company
Starting up lean. A lawyer’s tips
SUCCESSION & EXIT PLANNING
1. Business Succession Planning2. Income protection insurance3. Business Continuity and Cyber
Insurance4. Buy/Sell Agreements5. Power of Attorney – Business and
Personal6. Start with end in mind
Starting up leanA lawyer’s tips
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