Tech Startup Attorney
The tech sector is booming, with new and dynamic innovations constantly popping up. Starting a tech startup can be a profitable venture for those with the prowess and acumen to develop new inventions. However, most tech startups don’t know that there’s much more to starting and growing a successful tech company than just your innovations.
The world of tech is dynamic and fast-paced, so you are bound to experience legal problems along the way, which is why you need reliable legal counsel. At Fridman Law Firm, our legal team is dedicated to assisting entrepreneurs and tech startups to scale their businesses and offer legal counsel personalized to the technology sector as well as the initial stages of the business. Our lawyers are conversant with all the regulatory, legal, and business risks that are associated with the advertising and distribution of tech assets.
If you want to launch a tech startup, you need an experienced tech startup lawyer to assist you in traversing the process of launching your tech business. The tech startup attorneys at Fridman Law Firm are aware of the financial hurdles facing New York startups and entrepreneurs, in addition to their need for affordable legal services. We have in-depth knowledge of the tech industry, so you can depend on us to offer sound legal advice to tech startups.
Why Does a Tech Startup Need a Lawyer?
If you launch a tech startup without consulting a tech startup attorney, then you could be putting your business and potentially your personal assets at risk. The tech industry is marred by a myriad of nuances in terms of funding, regulations, intellectual property, and other unique circumstances. With a host of potential legal pitfalls, you need legal counsel to navigate the complex world of establishing a tech startup.
You cannot afford to make costly mistakes during the early stages of your startup. Sound legal advice can prove to be the difference between the success and failure of your tech startup. A tech startup attorney can assist emerging high-tech startups in handling key legal concerns, including:
Business Formation and Incorporation
A skilled tech startup attorney can navigate you through the different aspects of business formation, including incorporation, entity selection, corporate responsibilities and roles, confidentiality, and ownership. All startups need to have the proper legal structure. An experienced lawyer can assess your growth potential, tax implications, liability considerations, and funding requirements, which can be used to select the right legal structure for your tech startup. Your lawyer can also file the requisite paperwork and ensure your tech startup is registered correctly.
Intellectual Property Protection
All technological advancements have great potential for success and are a major point of contention among competitors. You’ll want to get proactive legal counsel to safeguard your tech startup’s business ideas and proprietary information. Your startup lawyer can help you safeguard trade secrets by drafting proper confidentiality agreements.
Most tech inventions are considered intellectual property (IP) and can be registered as trademarks, copyrights, patents, or trade secrets. Doing this establishes ownership and prevents competitors from stealing your tech idea. This way, you can accelerate business growth and attract investors interested in your IP to fund your startup. At Fridman Law Firm, our tech startup lawyers can also advise you on dealing with IP co-founders and employees when signing non-disclosure and non-compete agreements.
Compliance With Laws and Regulations
Data breaches are a common occurrence in the tech sector. Even big corporations struggle to safeguard their company secrets. Hackers usually target startups because they know they are more susceptible to attacks due to their lack of security. Companies have a legal duty to protect private data. The legal fallout of not securing customer data can be adverse, which is why you need to get sound legal advice.
An experienced tech startup attorney can help prove that you took every legal measure to protect against possible data breaches. With the tech sector coming under stringent regulation, you need an attorney conversant with the nitty-gritty of privacy laws. Without an attorney to safeguard you, you may overlook some loopholes in your policies. A lawyer will ensure you remain compliant with data privacy laws and shield you from possible legal action.
Contracts are critical to the seamless operation of business processes, from ensuring obligations are in writing, managing relations with third parties, giving assurance to parties, and alleviating risks to ensuring confidentiality. These legal agreements should be in place to support any transactions that tech startups make, such as hiring contractors and employees, seeking capital, and forming partnerships.
A tech startup lawyer plays a crucial role in drafting, reviewing, explaining the terms, and negotiating contracts for emerging companies in the tech space. An attorney should have a deep understanding of the unique legal challenges that up-and-coming enterprises face when drafting tech startup contracts. These legally binding documents can help business owners protect their interests, and our legal team is here to ensure they are enforceable.
Note that breaching your contract or getting sued for infringement can hurt your reputation and affect you financially. For this reason, it’s crucial to retain an attorney to handle your tech startup contracts, which ensures your interests are safeguarded and gives you more time to concentrate on your business.
Services for Tech Startups
In the early days of your tech startup, you should seek out competent legal counsel. Counsel can assist you in tackling your legal concerns, scaling up, and succeeding. At Fridman Law Firm, our legal team is familiar with how the tech industry operates and understands the challenges entrepreneurs face through every step of becoming an established tech company.
Our NYC technology lawyers have vast experience addressing the legal challenges of startups. In most cases, entrepreneurs and founders require guidance. This is why we provide strategies that merge legal counsel and business consulting. We can review your needs and find the best way to steer your startup’s growth, safeguard your IP, and minimize liability.
Here are some of the services we offer to tech startups:
Intellectual Property Audit
Fast-growing tech startups usually undervalue their true worth as the management doesn’t yet know the actual value of their intellectual property. Our technology attorneys are proficient at carrying out expansive intellectual property audits that distinguish IP assets overseen by each department in a business while gathering databases of licensed trade secrets, assets, and contracts, including non-disclosure agreements signed by investors, vendors, and employees.
Venture Capital Funding
Every tech startup will most likely need funding from a venture capitalist (VC). Given that the VC will have their vested interests at heart, they may try to take advantage of your financial situation and take a significant portion of your company.
Fridman Law Firm’s business attorneys know the ins and outs of VC funding. We can help formulate and negotiate venture financing contracts, ensure regulatory compliance, and protect your capital interests as a tech startup owner.
Every startup business must remain compliant with federal and state laws, including operating an inclusive and fair workplace. Our attorneys can assist in formulating and negotiating employment agreements, providing advice on employee remuneration, pay structures, and severance negotiations, and reviewing employment contracts.
Sales and Mergers
When a tech startup wants to merge or sell its stocks, a technology lawyer can assist in laying out the framework of the transaction and negotiating the deal’s fine print. Your attorney can also assist with tax planning and other contractual obligations you may need for the sale or merger of your startup.
Sales Commission and Pay Structure Contracts
Tech startups and companies usually depend on sales commissions to compensate their sales teams. Having a predetermined commission is essential to motivating the workforce as well as avoiding financial disputes when payday arrives. A lawyer can assist in formulating a sales commission contract that matches the company’s objectives.
Call Our Tech Startup Attorneys Today To Find Out How We Can Help
The tech industry is a treasure trove with so many possibilities for stakeholders. To avoid common legal pitfalls that may jeopardize your business, you need a skilled lawyer to steer you through this murky industry. Our attorneys at Fridman Law Firm are experts in tech startup law and can help you understand the legal implications associated with the life stage of your company.
The legal team at Fridman Law Firm can identify and execute best practices that ensure compliance with rules and regulations. Our tech startup lawyers act more like growth accelerators and serve as a legal foundation for your emerging company. To find out more about what we can do for your business, contact our Fridman Law Firm at 212-262-9823 to schedule a consultation, or fill out our online form to get started.