Top Legal Compliance Mistakes Made by Founders
When you’re running run a fast-growing business, it’s all about new. New ideas, new possibilities, new business models.
When everything is new – you don’t know what you don’t know.
But it’s precisely what you don’t know that can hit your budget(and your stress levels) when you least expect it, with unexpected legal costs, fines and reputational damage among the potential impacts of even inadvertent legal or regulatory breaches.
There are a number of legal compliance traps that start-up founders often fall into:
- Neglecting intellectual property rights – by not protecting your own, or infringing others’
- Being unaware of industry-specific regulations
- Not setting up your business with the right corporate governance structures
- Fundraising improperly – for example, through unregistered crowdfunding
- Breaching data protection regulations – not making GDPR your friend
- Breaking consumer protection laws – through misleading advertising or unfair business practices
- Disregarding employment law on issues such as wages, hour and workplace safety
- Misclassifying employees – wrongly claiming employees are contractors
- Ignoring securities laws – not playing by the rules when issuing stock or options
Getting “new” right – legal compliance for founders made easy
At Acuity Law, we understand the challenges that start-up and fast-growing businesses face. That’s why have developed My Digital Lawyer – a legal tech platform for Acuity Law that upskills small businesses to avoid common legal compliance missteps.
Our lawyers have developed a digital platform that equips you with concise explainers of complex legal and regulatory topics, as well as an automated document builder so you can even create your own documentation.
Our resources are created by market-leading corporate, IP, employment and regulatory specialists, so you can be confident. Plus, if you need in-person advice, your My Digital Lawyer subscription qualifies you for legal credits.
My Digital Lawyer, powered by Acuity Law, will guide you through the unknowns of legal compliance quickly and easily.
My Digital Lawyer Fast Facts
Knowledge Bank – Essential legal know-how and how-to guides to keep you compliant with regulation and legislation.
Document Assist – Self-generated legal documents from templates created by Acuity experts.
Insights – Keep your business cutting edge with essential articles, newsletters and events from Acuity Law.
Acuity Academy – A one-stop shop for legal training, Sign up for bespoke courses, on-site training and e-learning.
Alliance Partners – Our chosen partners, available to support you.
Acuity Law experts – 4 LEGAL CREDITS with our Acuity lawyers.
Click here to find out more.