Why Do Startups Need Legal Documents?
Why is legal documentation so important for startups? One may ask. And, to point out to potential pitfalls that may hinder your company’s growth from the absence of it, there are plenty of examples around us. In our earlier blogs, while we had written in detail about legal issues that startups need to address at the early stage, and the nuances of having a clear legal framework and strategy in place, in this piece, we take a step back, and understand why these documents are important for startups, and how they play a key role in administering an unimpeded growth for their business. Once you, as a reader, gain an understanding of why these documents are important, don’t forget to take stock of the infographics, which can be used as a legal cheat sheet for key documents every entrepreneur must have at the early stage. The infographic (Fig.A) has been designed in a way that it defines the key (legal) requirements of each sector on three scales; necessary, essential or desir...