Startup businesses have specific legal needs different than established companies. These needs are critical not just to their success but to their survival. Even more, startup businesses often have limited capital to spend on legal services and may not have a clear understanding of the legal services needed for their business. Rapp & Krock attorneys have decades of experience partnering with startups to identify the most efficient use of legal budgets to protect business owners from significant risks to the company and its assets. We can help business owners in the consideration and negotiation of business transactions as well as ensure that business transactions align with your goals.
We understand the importance of protecting your family, your assets, and your legacy through careful strategic planning. Our goal is to create a comprehensive and all-encompassing plan, ensure execution, and resolve any issues that may arise. We represent executors, administrators, trustees, and beneficiaries in all aspects of estate and trust administration.
Growing a business can be both exciting and daunting for a business owner, but growth can mean different things to different people. Some may view a business’ growth as expanding offices and employees or adding new business owners and management members. Others may view growth as targeting and securing a new customer base and market or expanding into new and different product lines. Regardless of how growth is measured, business owners need to understand the necessity of protecting a growing business from new and different problems that may arise.
A business plan is key to a business’ success, but implementing a business plan can require legal considerations. Whether a business is looking to expand operations by purchasing or leasing property in a new city, hire new employees, register intellectual property, acquire the business of a competitor, or conduct a capital raise or secure third-party financing, transactions should begin with thoughtful legal considerations. Rapp & Krock attorneys can tailor thorough legal documentation to ensure the business transaction is not only worded correctly and appropriately but implemented to protect the business and the business owners.
The initial ownership group of a company is key to its beginning success, from the sweat equity and funding that they bring to the table, to their experience and connections to help the company grow. Unfortunately, the different strengths and resources that are so useful at the beginning of the company are a common source of dispute later. It is critical to establish agreed-upon roles and responsibilities among the owners, and a non-confrontational way to resolve disputes and reduce tension before potential issues become unmanageable. Rapp & Krock can assist your partners in walking through options and strategies for improving the long-term health of your ownership group.
There is no single way to fund a business, but there are a variety of ways depending on the business owner’s goals. Funding a business can range from a business owner contributing capital personally to the business, getting bank loans, conducting private placements, to structuring convertible debt-to-equity loans. Understanding the pros and cons to each scenario of funding is essential to put the business in the best position for success and to protect the rights of the business owner.
The value of a new company often consists of intangible assets, from the knowledge and skills that owners have, to the ideas, plans, and connections that they have created. Those intangible assets should be protected at all levels of the business, from implementing confidentiality agreements with employees and vendors, securing ownership of the assets as they are developed, and filing for trademark or copyright protections when appropriate.
A successful startup business needs people both inside and outside the organization to work hand in hand. Inside the company, the owners and operational personnel should work together to implement defined goals. Company advisors such as lawyers, accountants, insurance brokers, and real estate agents should be tapped to provide the internal stakeholders with the appropriate resources and support.
The suppliers and customers of a business are crucial partners in its success. Too often, companies will neglect to properly structure and document these relationships. The best long-term relationships are built on defined expectations. Rapp & Krock can counsel you on how to document your agreements with your supply chain partners or critical customers to forge strong and lasting ties.
There are generally four different ways to protect your business operations: policies and procedures to prevent issues from arising; contractual terms to address expected and normal business concerns; insurance policies to handle unpredictable and unmanageably large risks; and structural protections to prevent potentially catastrophic issues from affecting your affiliates, other divisions, or even your personal assets. We can help you understand the benefits and limitations of each and advise you in crafting a customized strategy to understand the risks your business faces, and mitigate the potential downside of those risks.
