Jul 17, 2015

Failed start up business!

Failed Start Up Business – why does it go wrong?

We recently attended The Business Show 2015 at London’s Excel. We were invited by a well known platform to be the legal experts for the day giving free legal guidance for existing businesses and those which were new.

We have to say that it was a great day with lots of interesting questions, problems and brain teasers. One thing which struck us was that we was a panel of some 5 experts (all save for us had a non law expertise) and we found that the bookings for those experts were much more than ours.

We started wondering why? We could only say that some new businesses are mishandling the legals, either ignoring or saying “it will be all right on the night”. Very commonly it was the copy and paste mentality of taking a document from the internet and assuming that it will work.

We know that new businesses are sometimes under cash restrictions and so in response our call to action is, if you need a contract, we can get it to you for you to use. We have a number which will suit most service and business to business situations and the costs are surprisingly reasonable.

If you want  a more in depth design, we can do this as well. Very well, we hear you say but why do we need a written agreement, surely my word is enough? Yes but you need  more than just your word to regulate a business relationship and the only thing you will have is a written document setting out each party’s rights and obligations.

But you can protect your business.

With the prevalence of electronic mail, the courts are willing to see the exchange of e-mails to see where the contract (in the absence of written terms) may have been concluded in a disagreement. we will leave you with a thought, if there is a dispute, can you honestly confirm your position on the terms you have agreed?

Call us now on 020 3026 6321 for legal assistance.