The technology industry is, perhaps, one of the most burgeoning industries in America right now. Silicon Valley is highly affluent, with some of the most powerful information technology firms in the world hosting main offices here, including giants like Facebook and Google. Most of these IT entities began as startups in the early 90s, with a plethora of others that followed later on. Knowing why you need tech startup lawyers and how to find one that’s right for you is a very important part of the equation to success.
The Selection Process
When in the selection process for tech startup lawyers, you will always want to ask them about their particular experience working with entities similar to yours, explains an article that was published by Wise Geek. Doing so can help you find the lawyer that has the legal and business experience you’ll require to facilitate the best legal counsel for your venture.
The selection process aside, why do you need tech startup lawyers? The following reasons can help you better understand.
What you name your business matters and you will want to protect it from thieves. You’d be surprised at how often trade names are disputed in court. Tech startup lawyers research your trade name and put legal safeguards in place to protect it and your brand.
What you are creating or offering is also important. A good example of intellectual properties gone awry can actually be found with tech giant, Facebook. The founder, according to a Wikipedia.org article, was actually later sued by his former colleagues at Harvard, who helped him create the site, settling ultimately out of court later for a seven figure sum. Had the founder employed tech startup lawyers in advance, he could have likely avoided litigation.
You made it one way, now another entity is reverse engineering it and selling it for a profit. What gives? A famous example of this would be the ongoing Samsung and Apple battles, which have panned out in international courtroom drama. Even when you have the best of legal protection methods in place, sometimes litigation is unavoidable.
Whether that’s public or private, tech startup lawyers should always oversee offerings. Stock certificates are often forged, can many times be brought into question later, and nearly always require that certain related laws are adhered to when issuing them. Tech startup lawyers are able to ensure that your stock is distributed legally and professionally, in abidance with the law that governs these areas of business equity redistribution.
Most startups are operating on thinner budgets than their more established big corporate competitors are. The business world can be a fierce and unforgiving one that leaves little room for error. One aspect that should concern any startup is the employee side. Since each state has differing laws regarding employees, liability and rights, it’s imperative that you consult with experienced tech startup lawyers to ensure that your entity is in compliance and is fully protected with the right legal plan in place from the very start.
In a booming tech industry that’s rift with intellectual property theft, employee liability issues, investor relations and other commonly associated legal aspects, it’s always a wise choice to retain experienced tech startup lawyers to protect you ventures, interests and assets from the beginning. Visit http://cohenschneider.com for more information about quality, knowledgeable tech start-up lawyers.