Seven Tips and Tricks for Good Legal Practice

Ensuring good legal practice can be a complex and daunting task for many startups. Synch’s Johan Ragnar provides some great tips and tricks to help companies find the right legal solutions for them.

1. Find the right business structure.

In Sweden, this often means creating an Aktiebolag. This gives you protections such as limited personal liability and tax options.

2. Have all your agreements in writing.

It is good practice to have written evidence of all agreements, even between family and friends. It is also beneficial to have shareholder agreements in writing. 

3. Get insurance. 

It will save a lot of hassle later if something goes wrong. 

4. Know your tax obligations. 

Tax can be complex but it can make a big difference to profitability.

5. Make sure your operations are legal. 

Do you need a license to operate? Are you following GDPR laws? 

6. Protect your intellectual property. 

This can be done through trademarks, patents or copyright. It’s important to have the best solution for your individual business.

7. You need legal help sooner than you think! 

Getting legal advice early can save time and money. It is a lot easier to create a solid legal foundation from the beginning than to fix problems as they arise.

These tips were part of Ignite Sweden’s recent kickoff session of our new legal program run in collaboration with Synch Law. 

Watch the full session including a great Q&A session here.