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Saksham

Legal Advisor! • 1y

Why hiring a right legal counsel for your business is important!! I was inactive on Medial for a few days! Was busy closing a fund raise for a client with a top PE fund. This particular deal made me believe it more that why you must choose a right legal counsel even for a teeny tiny task which can hamper your business legally. While preparing a Due Diligence report for the client, we came across many lags in the licenses & the agreements of the business. The trademark wasn't filed correctly, which could harm the ownership of the mark by the company. Since the mark was filed incorrectly, the further licensing was not possible for the company. The Founder's Agreements and the Franchise Agreement lacked exclusivity clause and three other necessary clauses which could've led the Founder and the Franchisee Owner to pass on the trademark license to a third party and they could've been yet another MBAChaiwala. Its high time, if you are starting a business consult with a lawyer!!!!!

2 replies6 likes

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Saksham

Legal Advisor! • 1y

In case you're wandering, yes the fund pulled off the deal. Thanks to their old legal counsel for the company’s laid back behavior. We are now in the process of starting off with the re-doing their agreements and licenses. Hoping to raise the round from another fund.

1 replies

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