There is little doubt that launching a new business is going to take up a good amount of your time in the following years.
Although you may be incredibly busy and there are numerous exciting things to focus on, it is imperative to put time aside to ensure all the legal obligations for setting up a business are met. To help you we have explained the main requirements below.
Why not also take our Legal Health Check for Startups (it’s free!) - get started.
Your new business must have a name and this name must be unique. If it is too similar to the name of an existing business, you may find yourself facing allegations that you are trying to ‘pass off’ your business as that of another.
To check whether your business name is already taken, you can run a search through the free company name check tool provided by the UK government.
There are four main types of business structures in the UK:
One of our commercial law solicitors can discuss the advantages and disadvantages of each of the above options and advise you on which one is best for your business long term.
For more information on choosing the right structure for your venture, read our article on structuring your new business.
In today’s digital world intellectual property is a valuable asset. Protect aspects of your brand such as your business name and logo by registering them as a trademark. If your business is based on a unique invention, it may be advisable to apply for a patent. If you have created a new app, you may be able to rely on copyright law if someone uses the software code without your permission.
If you need help protecting your IP, find out more about our intellectual property services.
There are several other legal requirements you must consider when launching your start- up, for example, business insurance, tax obligations and applying for funding.
By building a relationship with one of our commercial law solicitors you can be confident that when you need legal advice, you have someone on your side who understands your business and wants to celebrate your success.
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