For new business owners, seeking legal advice at the outset on
everything from shareholders' agreements to intellectual
property rights can be a crucial step in order to avoid headaches
and disputes later on, says Toronto corporate lawyer
Sammy Redlick.
Legal advice and the agreements put in place can differ
depending on the scenario a new business aims to follow —
whether more of a traditional model, funded using the owner's
money until profitable, or a startup path, where entrepreneurs will
seek to raise capital, says Redlick, partner with Torkin Manes LLP.
For most, the first step, he tells AdvocateDaily.com, is to establish the company
itself, taking into account the founders' vision for the
business, how they plan to fund it, who the shareholders are and
what their contributions will be.
