Rule #6 Always Have A Paper Trail

November 1, 2017

With all the excitement of setting up a new business, a lot of people might get careless with their paper trails, but it’s of paramount importance to make sure every single dealing you have as a startup has a legal document tying you to whoever you’ve dealt with, whether its the furniture you just bought for your small dinky office, or a designer you just outsourced for a quick logo. This is one of the things that can come back to bite you in the a** when you later start dealing with annual reports, valuation, liquidation (god forbid), selling off assets to raise more money, whatever.

 

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