3 Things That Put Your Business At Risk

The 3 Things That Put Your Business At Risk


Well hello there, friends! Pull up a chair, grab your laptop - or if you’re old school, your notebook and pen - and let’s talk shop. Your great business plan finally has legs. You’re ready to get the word out, to start growing followers and to shout from the rooftops that your brand pretty much rocks and everyone should come and check it out. We love that confidence, in fact, it’s going to help you in the long run. But there are a few things you need to keep in mind in those early stages of development that could make or break your business. Read on to learn about the 3 things that put your business at risk.

Not having a privacy policy. 

It’s a legal requirement here in Australia to have a privacy policy, and though putting it on your site isn’t legally required we highly recommend this. That being said if your business collects any information at all from clients or potential customers, this bad boy is a necessity. If you’re asking people for an email address to share a newsletter, this is important. If you’re collecting credit card info you doubly need this! Don’t get caught up in a sticky situation where some cranky client tries to burn you for a breach of privacy because they didn’t like that last newsletter you sent through! Ultimately, your privacy policy will allow your potential customers or clients to feel safe and secure in your hands. They feel good, you feel good. In business and in life, that’s a total win!

Not having legal contracts. 

As much as we’d like to think a handshake and a verbal agreement is all you need nowadays, that just ain’t the case. Business is business, even between friends! Whether you’re doing a job for a client you’ve never met until now, or for your bestie or Aunt Karen, you need to have a legal contract in place before any work moves forward. A contract keeps both parties on track and leaves you with no uncertainties about what is owed and agreed upon. Get all the goods on the page, friends. Pay rates, the number of revisions you’re willing to provide (or ask for depending on which end of the contract you fall on!), due dates, rights and that good old grand scope. Talk it through until both parties are happy, make any necessary adjustments then sign on that lovely little dotted line. 

Not trademarking your brilliant brand and business! 

Don’t sit back on your heels with this one. Register your trademark! You have an awesome idea, a great brand that is sure to be a success and you’re going full steam ahead with plans, designs and marketing. Then someone catches wind of that brilliance... people can be jerks. What if that someone sweeps that idea out from under you and runs with their own version of it? The name, the brand, the design, you name it! Getting your trademark registered is the only way you can guarantee yourself exclusive rights to your brand name, your logo and other important business assets.You gotta get legal, lovelies, and this is how we do it. *Insert Backstreet Boys jam here*. Protect your brand early on so you can focus on making it the very best it can be without worrying about it being at risk. Brilliant idea. Trademark. Boom.

Alright, put your notebook and pen down. Grab a cup of coffee. Let it all sink in. And move your brilliant business forward with confidence now that you have a better idea of how to keep your bright brand and ideas safe and sound!

psst... pin this to your Boss Babe Pinterest board for safe keeping ;)

3 Things That Put Your Business At Risk


FOUNDD LEGAL articles are intended to provide commentary and general information only and presented in an informal style. Though we like to keep it real, please don’t rely upon our posts as legal advice. If there is something in one of our articles that speaks to you, reach out for some formal and up to the minute legal advice to properly address and discuss your queries and concerns. We’re here for you!