Legal Considerations to Start a New Business in the UK
25 points Due: Monday 5th June 2023
Apply what you have learnt this week to the example below to see what activities are necessary to undertake when in the early stages of setting up a business in the UK.
Starting a Company:
Peter, Andrew & Sally have decided to start a business together.
They will be selling a brand-new way to clean carpets, with a machine that does not use harsh chemicals. The product will be sold via 3rd party retailers and also purchased directly from their on-line shop.
They will build the product locally.
In addition to investing their own savings, the founders have generated interest from Fiona (an experiences business angel) who has agreed to also invest in the enterprise. She would like to participate in the business to provide strategic input, but not as an employee.
Sally developed the product, it is completely novel. She would like to protect the designs, but also retain some benefit as it is the result of all her own work.
With this information, determine which documents or activity they would need to undertake in the early stages of their business. Ignore the sequence of events. Cut and paste the following into the correct column of the table – some may appear in multiple columns and some may not be needed at all.
Register Patent
Investment Term Sheet
Appoint a Director
Web Site T&Cs
Software Licensing
Reseller Agreement
Disclosure Letter
Arbitration Clause
E-Pay Merchant Agreement
Register Trademark
Assign Patent
Copyright License
Director Resignation Letter
Agency Agreement
Share Option Scheme
Property Lease
Business Sale Agreement
Employee Contract
Personal Loan
Data Privacy Policy
Pet Insurance
Shareholder Agreement
Form Company
Non-Disclosure Agreement
Article of Association
Shareholder Register
Director Loan
Start a Business Assignment
Assignment Instructions
What’s required in the early stages of setting up a company in the UK: Example
