Following the success of Google, Facebook, Snapchat and other high-tech companies originally started by college entrepreneurs, college campuses continue to churn out innovative and lucrative new businesses.
College entrepreneurs are certainly full of game-changing ideas and industry-disrupting business models. However, they may not be quite up to speed on how to legally protect their newfound business interests. This can come back to bite budding businesses big-time in the form of future litigation, such as the lawsuit filed against Snapchat by an ousted co-founder, settled last week for an undisclosed (but likely substantial) sum.
What legal tips should college entrepreneurs bear in mind? Here are five to consider:
If you need help finding an experienced business lawyer in your area, check out FindLaw’s lawyer directory to browse a list of lawyers near you. And to learn more about the legal basics of running a business, check out FindLaw’s comprehensive section on Small Business Law.
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Related Resources:
- Start Up Basics (FindLaw)
- 5 Legal Mistakes That Entrepreneurs Make (FindLaw’s Free Enterprise)
- Divide Founders Stock Equally? Bad Idea (FindLaw’s Free Enterprise)
- 3 Legal Issues That Can Doom a Small Biz (FindLaw’s Free Enterprise)
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