Why your startup/business needs a lawyer | TheCable

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OPINION BY STANLEY ALIEKE: Why your startup/business needs a lawyer | TheCable

When running a business or investing in a startup in a place like Nigeria where both the legal and political system is complex and filled with a lot of bureaucratic policies, you need to be extra careful and make sure you do everything by book in other not to encounter hitches that will ground your startup or budding business to a halt.

From the conception of the idea of the business you are investing in, funding, or starting up, you need a lawyer to get the necessary registrations, certificates, and licenses that protect those ideas. Ideas are things of high value in the business world and it is classified as intellectual property hence why it is protected and guarded with jealousy.

I constantly run into business owners who by the nature and structure of their businesses the business ought to be incorporated as companies but were instead incorporated as business names and they end up spending extra money and wasting time to change the status of the business with the corporate affairs commission.

Also, your lawyer will be able to draft the essential documents required to support your business’s digital presence or online marketing strategies if your business is carried out majorly in the digital world. For instance, you need a lawyer to draft up website terms and conditions, personal data collection and usage, etc.

 

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