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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