Another area where missing legal documents for business operations can cause trouble is in protecting intellectual property. A startup might develop innovative products, software, or ideas, but without an intellectual property assignment agreement, it’s unclear whether the company or the individual creators own the rights. This can lead to disputes down the road, especially if the business grows or seeks outside investors.
In addition to these internal snafus, failing to prepare key documents to start a company can result in regulatory and compliance issues. For example, if your business handles customer data and lacks a proper privacy policy, you could face hefty fines for failing to comply with data protection laws like the General Data Protection Regulation (GDPR) or the California Consumer Privacy Act (CCPA).
These types of documents form the backbone of your company’s legal structure. The following information from the FastFilings team will dive into these critical startup legal documents, providing a roadmap for new businesses to stay compliant and protected from legal pitfalls.
FastFilings is a privately owned B2B service that helps organizations of all sizes with their government filing obligations, from obtaining seller’s permits to submitting annual reports. Get started with your business filings today.
