​Six Key Legal Considerations for Startups

By Catherine Jheon ● February 20, 2017 17:35

Goodmans LLP, a program partner of CFC Media Lab’s IDEABOOST Accelerator, has compiled a handy free legal guide that is a must-read for all startups in the technology sector.

The leading expert in the field of technology law, Goodmans LLP works with everyone from startups looking for seed capital and sound commercial foundations to multinational public corporations.

The full document delves into six areas of key considerations for startups:

1. Choosing the right business structure for your startup, be it sole proprietorship, partnership or corporation

2. Defining different types of intellectual property relevant to tech startups

3. Building a strong foundation and understanding all the different agreements between stakeholders and the capital structure (e.g., articles of incorporation, a shareholders agreement and a founder’s restriction agreement)

4. Choosing the right type of financing when raising capital (e.g., equity, simple agreement for future equity such as SAFE, debt financing, government funding and grants), as well as ensuring your startup complies with securities laws and exemptions

5. Building the right relationships by having a clearly defined contract with employees

6. Interacting with the public, looking at terms of use and privacy policy on startups’ apps or websites, and handling harmonized and provincial sales tax

To download the complete pdf version of this useful legal guide, click here.

Goodmans LLP is internationally recognized as one of Canada’s pre-eminent business law firms. The firm has market-leading expertise in M&A, entertainment and IP Law, corporate and transaction finance, private equity, real estate, tax, restructuring, litigation and other business-related specialties. Based in Toronto, they represent a broad range of Canadian and foreign clients from entrepreneurial businesses to multinational corporations, independent producers to Hollywood studios, investors to technology companies, financial institutions to pension funds and governments. It has a reputation for handling challenging problems that demand creative solutions.

For more information on Goodmans, click here

For more information on IDEABOOST and the range of services provided by our program partners, click here