Cubed_02-Journey_03_HeaderGraphic(Minimised).jpg
CubedbyLawSquared_BrandImagery_10-min.jpg

The Stages of a Startup

STAGE ONE

Ideation

Ideation is the first step in any startup journey. You cannot start without an idea and whilst many entrepreneurs start with many ideas, not all ideas can get off the ground.

The ideation process allows you to brainstorm ideas, investigate problems and find creative solutions. Find something you are passionate about and this will lead your motivation and determination in solving a “real problem”.

RELATED DOCUMENTS

Business Plan

Memorandum of Understanding


 

STAGE TWO

Incorporation

Setting up your business right from the start can save you both time and money as you go along your startup journey. Whilst there are a number of options for business structures in Australia, incorporating a company is the most common structure.

A company needs to be incorporated through the Australian Securities and Investments Commission (ASIC) along with registration of an Australian Business Number (ABN) and Tax File Number (TFN). Running your business through a company structure will help protect your assets, allow you to grow and obtain future investment in the business.

The bigger your goals and aspirations, the more important structure becomes and luckily for you, Law Squared has helped hundreds of startups find the right structure

RELATED DOCUMENTS

Company Constitution

Company Registration

Founders Deed

IP Assignment Deed

Shareholders Agreement  

Vesting Deed


 

STAGE THREE

Minimum Viable Product

How do you know if your product or service is what people want? Going to market with a Minimum Viable Product is an effective and sometimes brutally honest way of finding out if your current product offering provides sufficient value.

When you bring a product or service to market, even if it’s not complete, you are guaranteed instant feedback. This is rarely all roses, but you're bound to get something to work with. Your goal here is to create value for a small number of loyal followers and then leverage this new knowledge to refine your product or service.

RELATED DOCUMENTS

Confidentiality Deed

IP License Agreement

Non-Disclosure Deed

Memorandum of Understanding

Sub-Contractor Agreement


 

STAGE FOUR

Launch

Finally, after months (sometimes years), you are now ready to launch your business! Opening your business to general consumers is both a scary and exhilarating exercise and milestone which you should celebrate!

Launching your business also comes with risks and as consumers or customers begin to utilise your service and/or products, protecting your business is critical. This is the most critical and important stage of your startup journey and getting the legal essentials in place.

RELATED DOCUMENTS

Confidentiality Deed

Employment Agreement

IP License Agreement

Non-Disclosure Deed

Privacy Policy

Services Agreement

Terms and Conditions

Website Terms of Use


 

STAGE FIVE

Family, Friends & 'Fools'

So you've got a product, you've launched to the market and now you want to take it to the next level. Some money might help, right? Friends and family (and some may say 'fools') could be a valuable source of capital early on in your businesses life cycle. Down the track, sophisticated investors may look to see if your friends and family have taken a chance on you.

There is a risk in any investment and understanding your options on seeking investment from friends and family is important along with having an honest discussion as to any risks associated. There are a number of ways in which funds can be raised from your friends and family, and we are happy to help guide you through the options.

RELATED DOCUMENTS

Application for Shares

Convertible Loan Agreement

Loan Agreement

Shareholders Agreement

Term Sheet


 

STAGE Six

Seed to Series A

Congratulations! Your startup has made it through the early stages of the startup life cycle. Now there's only one thing left to do: grow. For most startups, this means generating additional cash for product development and increased overheads such as wages and office space. 

Investment is often broken down into rounds, in which investors contribute capital for the business usually in exchange for equity. A Seed round is often a series of related investments in which a handful of investors invest anywhere from $50,000 to $2 million. A Series A round often involves a smaller number of investors contributing anywhere from $2 million to $10 million. 

RELATED DOCUMENTS

Advisory Board Agreement and Terms of Reference

Share Purchase/Sale Agreement

Share Subscription Agreement


 

beyond startup

Expansion and Beyond

At this point, your business should be looking for comprehensive legal support.

We recommend that you get in touch with our lawyers directly through the Law Squared website to discuss how we can best assist you. 

 

 
 
 Legal documents created using tech, tailored to your business in plain-English, and individually reviewed by human lawyers.

AGILE SERVICE

 Legal documents created using tech, tailored to your business in plain-English, and individually reviewed by human lawyers.

HUMAN LAWYERS

 Legal documents created using tech, tailored to your business in plain-English, and individually reviewed by human lawyers.

AFFORDABLE PRICE

 Legal documents created using tech, tailored to your business in plain-English, and individually reviewed by human lawyers.

TECHNOLOGY DRIVEN

 
 
Cubed_01-Home_10_BackgroundGraphic copy.jpg