Startup Legal Advice

Are you a new business owner looking for startup legal advice?

It’s well reported that many startups don’t survive beyond their first year. This is often because entrepreneurs underestimate the complex legal issues involved in setting up a business.

There’s a lot to consider within a tight budget. Should you operate as a sole trader, limited company, LLP or partnership?

Should you work with a business partner? And if so, how should you structure this? What is your best option for securing finance and when is the optimum time to do that? What approach should you take to securing premises?

Regulated by solicitors regulation authority

Progeny Law & Tax are authorised and regulated by the Solicitors’ Regulation Authority, meaning we are dedicated to upholding professional standards within the industry.

Recognised by eprivateclient

Progeny Law and Tax have been selected as one of the Top Law Firms by eprivateclient which recognises the top private wealth law firms and departments across the UK.

How we can help with your startup

Our team of specialised lawyers have experience and expertise in the right areas to help you succeed:

Business purchases

We provide comprehensive advice on buying a business, aiming to minimise risk and offer proactive support throughout the purchase

Shareholder agreements and joint ventures

We understand how companies and entrepreneurs grow through collaboration, offering guidance on joint ventures, equity investment and strategic support.

Business angel investments

Our corporate team advises on business angel transactions across sectors, helping both parties navigate risks and seize opportunities.

Enterprise Investment Scheme (EIS) compliance

We reduce the stress of seeking EIS investment by ensuring compliance, making your business attractive while minimizing risk.

Intellectual property

We can facilitate a full IP advisory services to protect your brand, designs, and products while maximising the value of your business ventures.

Real estate investment and development

We support projects of all sizes, offering advice on commercial real estate, site acquisition and leases.

Commercial contracts

It’s our job to make sure your contracts are fit for purpose, protected from risk and are doing the job they’re meant to do for your organisation.

HR and employment law

Our employment lawyers work closely with you to provide pragmatic, commercial advice, positioning your staff and business for success.

Frequently Asked Questions

Why do startups fail?

Startups often fail due to a combination of factors such as lack of market need, poor management, insufficient funding and intense competition. Other common issues include an unsustainable business model, problems with product development, challenges in scaling operations, ineffective marketing and legal or regulatory hurdles.

What are the key legal considerations for startups?

Key legal considerations for startups include selecting the right business structure, registering your business and protecting intellectual property through patents and trademarks. Essential legal steps also involve drafting clear contracts, complying with employment laws, fulfilling tax obligations, safeguarding data privacy, obtaining necessary licenses and permits, securing appropriate insurance and adhering to industry-specific regulations. Addressing these aspects helps ensure legal compliance and mitigates potential risks.

What is an angel investor?

A typical angel investor is an affluent individual who provides financial support to early-stage startups or entrepreneurs, typically in exchange for equity ownership or convertible debt. Angel investors often invest their own personal funds and may also offer mentorship, industry connections and business advice. They usually invest in businesses at a stage where traditional funding sources like venture capital or bank loans may not be available, and they often take a more hands-on approach compared to institutional investors.

How do I protect my startup’s intellectual property?

To safeguard a startup’s intellectual property, it’s crucial to first identify and register key assets like patents, trademarks and copyrights. Implementing non-disclosure agreements (NDAs) helps keep sensitive information confidential, while restricting access to trade secrets protects them effectively. Regular market monitoring for potential infringements and taking legal action when necessary are vital steps. Establishing robust internal IP management policies and seeking advice from legal experts ensure comprehensive protection. Progeny, with its specialised experience in tech sectors such as automotive and fintech, provides tailored support to navigate these challenges effectively.

How can UK startups ensure compliance with employment laws?

UK startups should adhere to employment regulations like the Employment Rights Act and National Minimum Wage. Key steps include drafting clear employment contracts, maintaining up-to-date HR policies, and consulting with legal experts to ensure compliance and avoid common HR pitfalls.