In today’s dynamic business world, startups are becoming an important part of the economy. Numerous innovative companies are developing in Poland, attracting investors and sweeping the market. However, in order to succeed, every startup needs to take care of the appropriate legal aspects. In this article, we will discuss three key legal issues where a lawyer can prove invaluable support to your startup.
- Founding a company: choosing the optimal legal structure
The first step you need to take as an entrepreneur is to decide on the legal form in which you want to run your startup. In Poland, several different legal structures are available, such as a limited liability company (sp. z o.o.), joint-stock company (S.A.), simple joint-stock company (S.A.), sole proprietorship (jednoosobowa działalność gospodarcza), or limited partnership (spółka komandytowa). Choosing the right structure has a significant impact on your tax obligations, financial responsibility, how you distribute profits, and many other aspects of your business.
A lawyer with expertise in business law will help you thoroughly understand each of these structures and advise you which one best suits your startup’s needs. It is also important to properly prepare incorporation documents, such as the Articles of Incorporation, Articles of Association (for joint stock companies), or the Limited Partnership Agreement (for limited partnerships). A lawyer can help draft these documents to ensure compliance with Polish law and avoid potential problems in the future.
- Protection of intellectual property
Many startups base their business on innovative ideas and technologies. That is why, protecting intellectual property is a key element of success. Proper protection helps prevent unauthorised use of inventions, trademarks, copyrights, and many other intellectual assets by competitors.
Polish law offers various mechanisms to protect intellectual property, such as patent applications, trademark registration, and licensing agreements. A lawyer with expertise in this field can help you understand what steps to take to secure your intellectual rights. What is more, he/she can advise you in case of disputes concerning violations of these rights, which can be vital to the long-term success of your startup.
- Compliance with the laws and personal data protection
In recent years, especially after the introduction of the General Data Protection Regulation (GDPR), regulatory compliance has become a priority for any company, regardless of size. For startups that often collect and process client data, data protection is becoming a key issue.
A lawyer with expertise in personal data protection law will help you bring your business into compliance with the GDPR and other privacy regulations. It’s not only about avoiding financial penalties but also building trust with clients who are increasingly concerned about their personal information.
For a startup that wants to succeed, working with an experienced lawyer can bring significant benefits. It is worth investing in professional legal advice to avoid potential legal pitfalls and ensure the stable development of your business. There are a number of reputable law firms specialised in the area of startup law that will be happy to support you at any stage of your business development.
- Conditions for exiting the company
It is important to define the conditions for the exit of shareholders from the company, such as procedures for the sale of shares or pre-emptive rights.
- Clauses referring to business decisions
A lawyer can help draft clauses to regulate making key business decisions, such as taking out a loan or issuing new shares.
In conclusion, when setting up a startup in Poland, legal aspects should not be neglected. Choosing an appropriate legal structure, protecting intellectual property, and compliance with the laws and data protection provisions are key issues that can determine the success or failure of your venture. Working with an experienced lawyer is an investment in the future of your startup that can bring multiple benefits.
*This article is for information purposes only and does not constitute legal advice. It is always advisable to consult a lawyer for specific advice on your individual legal situation.*
