Mikal B. Shaikh, a Partner with Smith Anderson Law Firm, was the featured speaker at the Licensing Executives Society’s November 15th luncheon hosted by its RTP Chapter.
Shaikh presented on the various legal issues that startups can face and offered methods for mitigating such issues. He covered topics that typically arise during the formation of the company, such as choice of entity, the process of incorporation, bylaws, allocation of founder’s equity, and forming a board of directors. He also stressed the importance of establishing intellectual property ownership policies from the outset.
Shaikh also highlighted common legal mistakes involving personnel, capitalization, corporate governance, and customer contracts. He identified the initial formation of the company as the most opportune time to account for and address these mistakes, and stated that while there are many potential pitfalls involved in forming and running a startup, corporate lawyers can wear many hats in order to help you and your company avoid such hazards.