Tips to Grow Your Bay Area Business

AdobeStock_531731015-300x200The Silicon Valley region hosts numerous startups that have sought counsel from Structure Law Group to support their business growth. As San Jose business attorneys situated in the heart of Silicon Valley, Structure Law Group, LLP actively aids our clients in maximizing the potential of their new ventures. Our attorneys adopt a life cycle approach, providing guidance on entry strategies, growth management, and exit mechanisms to ensure comprehensive support at every stage of their journey.

The Silicon Valley business lawyers at SLG offer you a full-range of legal services to startups.

While every business is different in terms of their needs and plans for growth, here are five general tips to keep in mind when building your own startup.

  1. Keep Detailed Records of Everything

Even in an age when most records are stored in the cloud, a business needs to have a detailed plan for maintaining and organizing their records. Indeed, it is still best practice to keep a physical copy of all key business records. This serves two important functions: First, it ensures you always have one set of records backing up the other; and second, you are always able to compare both sets to ensure accuracy of the information.

  1. Protect Your Intellectual Property

Every Silicon Valley business generates some kind of intellectual property. Even when you are just starting out, there is the name and brand of your business. Therefore, you need to make sure that your trademarks for your brand are registered and properly defended. As your business grows, you will undoubtedly need to get into other areas of IP such as copyright and patents.

  1. Consider All of Your Funding Options

It used to be that every Silicon Valley startup had the same goal: Obtain as much venture capital funding as quickly as possible. While VC is still the best option for many companies seeking funding, it is important to consider other potential options, such as token offerings, pursuing acquisitions, and even looking towards a smaller foreign stock market for an initial public offering.

  1. Make Sure Your Hire Enough People

Startup founders are often driven to work 100 hours a week to get their businesses running with a small team. But burnout is a real problem, as is the fact that as your business grows, you will simply need more people to remain productive. It is critical to hire enough people as you grow–and to make sure you have the legal and HR framework in place to handle all new employees.

  1. Hire an Experienced Business Attorney

Growing a Bay Area business means navigating a lot of complex laws and regulations. Whether you need to deal with the Securities and Exchange Commission before a public offering or understand your obligations under the California Labor Code, there is a lot to keep track of when it comes to the law. Fortunately, you do not have to deal with these issues alone. Our qualified Silicon Valley business attorneys are here to help. Contact SLG today to schedule an initial consultation.