Marketing is probably the most important part of a business therefore in order to make sure it flourishes you must reach out to people and show them what you are capable of and why they should seek your products or services that you are offering.

There are many cost-effective marketing strategies available in the market and printed marketing materials are among the most effective ones which can drive high-value business.

The most efficient marketing materials that ensure effective conversions so that the business can grow organically are:

1. Business cards – If you are interested in making your first impression effective and want people to think that you are credible enough then go for a nicely printed business card.

Your potential customers will be able to connect with you effectively. Do not take this small weapon lightly because business cards can bring customers to you. Make sure that your entire team has the business card so that your services or products or whatever you make gets propagated positively.

Most people ask for a business card and if you say that you don’t have one, it creates a negative impression which you probably do not want.

 

2. Business brochures – A company brochure is something that is an integral part of your marketing strategy. You have to tell your clients or customers what your services and products are all about.

More detailed information about your company can actually help you grow a lot. With the help of a brochure maker, you can now design beautiful and imposing brochures that will be appreciated by all, nowadays, designing a brochure isn’t big of a deal.

 

3. Datasheets – You can use product data sheets to showcase the important specifications or features of your product. If you are a service provider then you can mention the different benefits of your service, why your service should be availed, etc.

If your customer is more informed, good for you because clients need information and if you can provide relevant information to your clients they’ll find your services or products more interesting and attractive.

 

4. Customised folders – Have you ever thought of presentation folders?

If not then think about it because a custom made folder is something that will grab the attention of your clients quickly plus you can put all the required information pertaining to your services or products inside the beautiful folder, whatever your clients need to know will be there in the folder.

 

5. Company catalogues- If you are thinking of catalogues for your company you are on the right track because you can showcase your most famous item in the catalogue and pull the attention of the crowd.

Also, you can redirect the traffic to your website as well with the help of a catalogue.

If you consider the importance of a catalogue then you’ll understand that people don’t throw away catalogues that easily. Yes, the world has become pretty fast and progressive but then a good amount of people like the old school systems more; some people prefer catalogues, brochures, and any other printed marketing materials to websites or any information available on the net.

 

6. Case studies – If you want to show that you are better than the rest you can provide case study materials to your clients to show them that your product or services are wanted by all.

The testimonials from your other clients can be used as printed marketing materials because that’s how you will show your new clients that you live up to you promises or provide the best service which is why people tend to like your services more. This is certainly a unique way of triggering your business to attain indelible heights.

 

7. Custom letterheads – Using custom letterheads or envelopes make your customers think that you have enough credibility and a positive impression is created. This portrays the fact that you pay impeccable attention to minute details.

This is necessary indeed because your attitude towards details is clearly visible and customers like that.

The image of the brand is depicted strongly through the custom letterheads and envelops and make sure that you are using paper that is of top-notch quality.

Showcase your brand simply by putting a colour logo of your brand in these customized letters and envelops this way your brand gets promoted and customers get convinced to purchase your services or products.

 

8. Gratitude notes – Sending a thank you note to your customers or stakeholders is a lovely way to impress them. This shows that your brand is not only interested in the business it makes from them but also cares for the customers.

Thank you cards aren’t just pieces of paper it is more than just saying thank you it means you are again paying attention to the details, people who pay attention to the details are appreciated always.

You can send thank you cards to the stakeholders, donors, investors, customers or even vendors… remember that you will also flourish if you maintain a cordial relationship with your vendors because without them a major part of your business will remain incomplete. You can also send out holiday greeting cards or anything unique that’ll make everyone feel special.

 

9. Newsletters – If you are launching a new product or have planned a product or service that can be very beneficial for your customers… why not send out quarterly newsletters which will talk volumes about the products or services you intend to launch in the future.

Yes, physical newsletters are old school but still, some people love the old school ways more than everything digital. Newsletters are instrumental in keeping your customers updated.

In a nutshell, printed marketing materials are still in vogue owing to their user-friendly nature. You can use printed marketing materials for so many businesses or in many industries.

In case you find a good printing company you can negotiate and bring the printing cost down to a large extent, work on the return on investment by ensuring the betterment of consistency, minimizing the number of errors, etc. This will help you to develop in a positive direction.

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Curiox Biosystems, a bio-instrumentation startup based in Singapore, announced that it has received US$15 million in its Series B funding round from Korean biotech investors, DealStreetAsia reported.

The investors in the Series B funding round include KB Investment, Dayli Partners, Quad Investment Management, IMM Investment, SV Investment Partners, and HB Investment.

Previously, Curiox has raised funding from Singaporean venture investment firm Zig Ventures.

The company notes that the fresh funding will be used for global commercialisation activities and to scale up. “Our new funding will help us expand our global reach to the flow cytometry community and other cell-based assay developers,” said CEO Namyong Kim.

Curiox also revealed plans to pursue an initial public offering on the Korean stock exchange, KOSDAQ, in the next 36 months, given its now-backer is from the country.

Also Read: Singapore biotech startup Engine Biosciences raises US$10M for drug discovery technology

In a statement, Zig Ventures said that the Korean biotech investors who are attracted to Curiox’s bio-instrumentation solutions developed for cell analysis and therapy in the pharma and biotech industries.

Curiox is a spinoff bio-instrumentation company of the Agency for Science, Technology, and Research (A*STAR) in Singapore. Curiox is led by Chief Executive Officer Dr. Namyong Kim and provides products like the Laminar Wash HT1000 System and two new systems, the Laminar Wash AUTO1000 and Laminar Wash MINI.

The AUTO 1000 system allows scientists to have a fully-automated flow cytometry staining platform that can produce quantitative and reproducible results for flow cytometry. Cytometry is the measurement of the characteristics of cells.

Meanwhile, the Laminar Wash MINI, made up of a smaller, benchtop unit designed for smaller throughput labs.

Zig is SEEDS Capital’s co-investment partner under Startup SG Equity and has been an investor of Curiox since 2011.
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Singapore-headquartered fintech startup GDP Inc. received over US$1 million in its seed fundraising round from angel investors.

The company was co-founded by Amos Huang, COO; Weili Liu, Head of Legal, and Victor Wu, CEO.

Huang previously founded Viscovery in 2013, an Artificial Intelligence company based in Taiwan, and Liu is a renowned attorney at LCC Partners Law office. CEO Wu has a digital marketing background and founded VPon Big Data Group in 2008, Asia’s Big Data ad technology company with offices all over the region.

“Traditional methods provide inefficient cross-border services with expensive fees, long transaction times, unfavorable exchange rates, and even transparency issues. Using the power of Blockchain, Artificial Intelligence, Big Data analysis, and social innovation, GDP developed two flagship solutions: PEZZAPay and PEZZALoan,” explained Wu.

PEZZAPay is a P2P cross-border payment platform that matches users in the Philippines with helpers in Japan and China tasked to execute the desired payment on behalf of the user.

Also Read: [Exclusive] MyCash raises funding from 500 Startups; to take its financial services platform for unbanked migrant workers into new markets

PEZZALoan is a P2P financing platform that aims to provide fast, easy, and secure business loans for SMEs by offering attractive returns for smart investors willing to lend directly to these businesses. It is currently in the early testing phase with established SMEs beta users in Taiwan.

So far, GDP has already established offices in five locations (Singapore, The Philippines, Taiwan, Japan, Estonia) and soon to be in Hong Kong and China.

The startup has also invested in its operations compliance efforts by applying to +7 licenses in the region including Crypto, Money Service Operations, and E-Money licenses.

The startup said that it plans to grow its user pool and its transaction cash flow in the upcoming months, as it prepares for a Series A fundraising in early 2020.
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Privacy has become a big thing recently thanks to the European Union’s General Data Privacy Regulation (GDPR).

It’s arguably among the biggest development in tech this year and has put privacy in the spotlight. Organisations with an online presence were compelled to review how they handle privacy even if they don’t really serve European audiences.

But even without the GDPR, it’s high time that privacy becomes part of daily concerns. In the Philippines, its National Privacy Commission is noticeably quite active in recent months launching events and online campaigns that inform of the basic principles of the regulations.

This drive to promote privacy has been long overdue. The Philippines’ Data Privacy Act was passed way back in 2012 but it was only in 2016 that the implementing rules were finally established. The regulations include provision for organisations to take steps such as appointing data protection officers, performing privacy impact assessments, and creating privacy management programs.

The idea is to have organisations comply with these measures but it’s tough to enact sweeping changes especially if it goes against the grain of the prevailing norms and culture.

Also read: How can privacy-focussed apps step up amid a world of data breaches?

It’s been somewhat of a joke that gossip is a national past time in the Philippines.

Some say that the reason why there aren’t many reported serial killers in the country is because neighbours would immediately notice if something shady is actually going on. Jokes aside, it’s easy to experience the effects of the little regard most entities give to people’s privacy.

Proper and secure document management and archiving are capabilities most organisations fail to develop. It’s still common to see enterprises hedge on adopting digitization as they continue to rely on antiquated and insecure paper-based filing systems.

Sales and profits also seem to be more of a priority for larger enterprises. Up until today, it’s common for mobile phone subscribers to get bombarded by calls and texts from various telemarketing agencies which leads you to question how they get access to your contact information.

Smaller businesses and entrepreneurs also have this lax approach to protecting their customers’ information. It’s common to see online sellers showcase their sales by posting pictures of packages or order lists bearing the names, addresses and contact details of their buyers for the public to see.

Individuals and end-users aren’t helping either. Oversharing of information is still common online.

Despite notices by the social networks and online services for users to check their privacy settings, not everyone has chosen to secure their accounts and hide information that can be used by malicious actors for fraud. People still don’t even perform basic measures like shredding bills and bank statements before disposing of them.

Also read: Cashless payments come with security and privacy challenges from the viewpoint of consumers and businesses

The status quo only continues to promote negligence and devalue the importance of data privacy. Many Filipinos still overlook the gravity of the breach of the Commission on Elections website which compromised the personal and biometric data of all registered voters.

While most are preoccupied with violent crimes, the security breach of such magnitude should have been considered among the more appalling crimes to be committed.

While it’s nice that the government is ramping up its efforts to promote privacy. It would take a collective effort to change the prevailing mindset and establish a new culture that truly values people’s information.

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Yummy Corp, Indonesian online catering and cloud kitchen startup has received a total of US$7.75 million in Series A funding led by SMDV (Sinarmas Digital Ventures) and Intudo Ventures.

Participating in the round are East Ventures, Agaeti Ventures, Sovereign’s Capital, and Selera Kapital by Sour Sally Group.

With this investment, Yummy Corp said it is targeting 200 locations for the year 2020 across Jakarta and other major cities in Indonesia.

Mario Suntanu, CEO of Yummy Corp said, “We aim to use this investment to increase the quality of food and customer experience. Our main focus is the customers, and by adding distribution points we want to ensure that the customers can experience faster delivery experiences and fresher food to be enjoyed anywhere the customer orders.”

Yummy Corp was established in 2017, offering two main services: catering solutions and cloud kitchen.

Also Read: Yummy Corp acquires Berrykitchen, aims to become the largest online catering service

Its catering solution offers foodservice to companies on-premise (by operating the company’s kitchen and cafeteria) as well as off-premise (as ready-to-eat meal delivery). Yummy enables employees to select and order their meals through the Yummybox app using their corporate balance or top up their balance.

Meanwhile, Yummy Corp’s cloud kitchen business, named Yummykitchen, works with local culinary brands and delivery platforms to extend their services to its network of delivery-focussed kitchens, serving as a growth platform for the partner brands.

In May 2019, Yummybox acquired Berrykitchen, the first online catering company in Indonesia. Yummy Corp said that the decision to acquire Berrykitchen was because the company happened to have the same target market as Yummybox: Office employees with greater awareness of the health and taste aspects of the food they ate.

Today, Yummy Corp operates 25 cloud kitchen locations in the Greater Jakarta Area that serves upwards of 10,000 meals every day and has more than 3,000 menus.

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The moment Sean Parker suggested Mark Zuckerberg drop “The” in “The Facebook” was the moment that changed the world as we know it. For the better or for the worse is still up for debate though.

With over two billion users, the social media platform has permeated today’s society in heights unforeseen.

Today, the way we make friends, communicate, promote ourselves and our brands, entertain and be entertained, are all influenced by Facebook and other social media platforms.

It is undeniable impact on people also begs to question if its influence on society is good or bad. Many experts have studied its negative effects, but social media founders and practitioners always find a way to defend their cause. Until now.

Earlier this month, former Facebook Vice President for User Growth, Chamath Palihapitiya, spoke against the platform, noting its harmful effects on the society around the world.

The executive spoke to a crowd at the Stanford Graduate School of Business wherein he shared his “tremendous guilt” for what he helped establish with the Palo Alto company. The exec is the second former employee of the platform who has spoken about the negative effects Facebook and social media has on society.

Palihapitiya admits creating “tools that are ripping apart” society

“We have created tools that are ripping apart the social fabric of how society works. That is truly where we are,” the 41-year-old venture capitalist told the audience during a talk on November 10, 2017.

Palihapitiya joined Facebook in 2007. At that time, the company was still in its early-yet-booming stages, having been launched in 2004. What started as a platform exclusive to Harvard students, created by Mark Zuckerberg in his dormitory room, soon exploded into a country-wide phenomenon. Before everyone knew it, people from all over the world were getting hooked.

When he joined the company, the former VP admitted that there wasn’t really much thought put into the long-term negative effects of the platform. As they built the network, they made themselves believe that no negative consequences will come out of what now seems as the exploitation of consumer psychology.

“I think in the back, deep, deep recesses of our minds, we kind of knew something bad could happen,” he revealed.

Also read: Watch out, these startup social media marketing strategies are bullshit

While social media, as a whole, has helped bridge people from thousands of miles away, Palihapitiya admits that it has taught the community to be impatient. Driven by likes and hearts, people now turn to social media for instant gratification, “eroding the core foundations of how people behave.”

“The short-term, dopamine-driven feedback loops that we have created are destroying how society works. No civil discourse, no cooperation, misinformation, mistruth.”

The Golden State Warriors owner did praise Facebook for the overwhelming good it does for the world, but the damaging effects have pushed him to stop using the tool. And he encourages people to take a “hard break” from Facebook and other social media platforms as well.

Sean Parker, a “conscientious objector” of social media

Even before Palihapitiya made his claims, Sean Parker already made his thoughts about social networking known. The infamous former Facebook president attended an Axios event in Philadelphia earlier in November where he acknowledged the “unintended consequences” of the platform he helped grow.

“It literally changes your relationship with society, with each other … It probably interferes with productivity in weird ways.”

Parker noted that Facebook is “a social-validation feedback loop,” and exploits a vulnerability in people’s psychology. He likens social media to having a dopamine hit whenever someone gets a like or comment. Much like other substances, once the high subsides, users want to take another hit to feel elated and elevated again.

“God only knows what it’s doing to our children’s brains,” Parker, who is now founder and chair of the Parker Institute for Cancer Immunotherapy, said.

Facebook admits mental health adverse effects

Defending itself from all the negative claims about its platform, Facebook responded to its former VP clarifying that things have been different since Palihapitiya left the company. A spokesperson for the company told The Verge that when the former exec was with FB, they were solely focused on “building new social media experiences” and establishing the brand across the world. However, over the years, as the platform grew, “we have realized how our responsibilities have grown too.”

“We take our role very seriously and we are working hard to improve. We’ve done a lot of work and research with outside experts and academics to understand the effects of our service on well-being, and we’re using it to inform our product development,” the spokesperson explained.

Also read: We are in the ‘Black Mirror’, living in a world where social media is taking us on a nosedive

A recent journal published by the social media giant, however, confirmed that depending on the use of their platform, Facebook could indeed affect mental health negatively. “Passively consuming” information — like reading posts on the newsfeed — without interacting with other Facebook users could lead to depression and lower self-esteem.

A UC San Diego and Yale study revealed that people who simply browsed through their feeds — liking posts and clicking on links — are more inclined to have negative social comparison than those who post on their walls often.

The American Academy of Pediatrics (AAP) has also released a similar study wherein it confirmed that social media use may lead to “Facebook Depression” among adolescents. The term coined by the researchers pertains to the depression that preteens and teens develop when they spend time on the platform.

“Acceptance by and contact with peers is an important element of adolescent life. The intensity of the online world is thought to be a factor that may trigger depression in some adolescents,” the journal noted. It added that “Facebook Depression” may lead to substance abuse and self-destructive behaviour.

To address such issues, Facebook has been taking steps to make its ecosystem a safe one. It has been employing the help of social psychologists, sociologists, and social scientists to establish an environment where the network contributes in a positive way. So far, it has added the “On This Day” feature which shows memories with friends and encourages user interaction. It has also positioned itself as a venue for goodwill and humanitarian work through fundraisers for disaster relief.

CEO and founder Mark Zuckerberg says the company wants “the time people spend on Facebook to encourage meaningful social interactions.” Moreover, the company promised users that they are willing to reduce their profitability to “make sure the right investments are made.”

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Indonesia-based edtech platform Zenius reportedly has raised US$20 million (IDR283 billion) from Northstar Group, DailySocial has learned.

Zenius was co-founded by its CEO Sabda PS dan Jerome Polin, and it’s said that PS will become the company’s chairman following the funding. The CEO declined to comment on the matter.

Zenius claimed to be one of the first initiators of edtech startup in the country.

Moving classroom online has been in trend for the past couple of years, with the country seeing names like Zenius’ competition Ruangguru aggressively accelerates its growth and in-country expansion with it being valued at US$7,100, according to DailySocail’s Startup Report 2018.

Recently, Ruangguru has added another segment like Ruangkerja, aimed at employees to have access to Skill Academy, facilitating extracurricular skills improvement for career people.

Also Read: Reaching out: These startups are educating Indonesia’s underprivileged

According to data summoned from Crunchbase, this could be the first funding outside internal fundraising that Zenius has raised.

Zenius was established in 2007 as an online course service targeting all education levels, from elementary school to senior high with public university test prep.

The cost to subscribe to its online course starts from US$12 to US$46 per month. Zenius is said to already have a library of 80,000 educational videos.

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The Asia-Pacific region is one of the fastest-growing places when it comes to fintech. Multiple startups focused on fintech have sprouted across the area, with China, Singapore, and Japan leading the way.

Fintech has disrupted the financial sector across the world, bringing much-needed innovation and change, and the Philippines looks to be a part of these changes.

 The Fintech landscape of the Philippines

Multiple startups and fintech incubators have opened up in the country, with many focusing on payment systems and alternative finance while blockchain, cryptocurrencies and other financial services not far behind.

Government response towards the changing landscape that is fintech has been positive. In recent years, the Philippine government has enacted policies that are targeted at achieving greater financial inclusion while pushing for growth and innovation in the world of financial services.

The country’s central financial regulator even hopes to raise the adoption of digital payments systems by 20 per cent by the year 2020.

The government has also signified that it is ready to collaborate with other fintech leaders, signing an agreement with the Monetary Authority of Singapore aimed at fostering fintech cooperation. Regulatory safeguards have also been set to help address money laundering concerns and protect consumers.

Also Read: How fintech is making credit more accessible for Southeast Asian SMEs

Investors both global and locals have started to take notice as well. In 2017, saw a USD$11.2 million in investments for new fintech firms which has steadily increased, reaching USD$96.6 Million in 2018.

Investors like Indonesian startup titan Go-Jek, Singaporean firm Grab and Hong Kong’s Oriente have made their presence known in the Philippine’s fintech sector while China’s corporate juggernauts Alibaba and Tencent have flexed their investment muscles, with the latter raising over $175 million in a funding round for the Philippine telecom’s fintech arm, Voyager.

Challenges in the Fintech sector

 It’s not all rainbows and sunshine, however. While other countries have made inroads with fintech startups, The Philippines is still lagging badly behind. In 2018, startups in the country only received around USD$50 million in venture capital funding, an abysmally low amount considering investments in the region totaled $3.6 billion that year.

The country has little access to venture capital, aside from angel investors

Funding isn’t the only challenge fintech startups face in the country. Firms face an alarming lack of talent in the country as well. Startups have reported difficulty in hiring and retaining fintech talent in the country. This appears to be a common challenge across the region, as fintech startups in Indonesia, Malaysia and Thailand have also experienced the same difficulty.

Also Read: How fintech is making credit more accessible for Southeast Asian SMEs

The lack of infrastructure has also slowed down the fintech sector in the Philippines. Low internet penetration, abysmally bad internet connectivity speeds are also compounded by a variety of factors including geographical concerns, government inaction, corporate monopolies and most tellingly, corruption, have all conspired to leave the country with one of the worst internet services in the Asia-Pacific region.

 Looking to the future: the role of global partners

 Right now, we are seeing a remarkable growth in the Philippine fintech sector. Increased access to wireless internet via 3G and 4G networks is breaking the barriers caused by infrastructural bottlenecks, while the entry of a third major telco player has altered the balance of power in the current Philippine telecoms sector.

As quoted from Atty. Edsel Tupaz, Partner of Gorriceta Africa Cauton & Saavedra Law Firm and a known advocate of fintech in the Philippines, “The government continues to support the local fintech scene with increasingly liberal policies, including testing the waters with regulatory sandboxes. These factors have attracted international Venture Capital firms, boosting access to capital that startups need. Because of these developments, the Philippines is becoming a friendlier ecosystem for businesses and capital supportive of fintech initiatives.”

This stage in the development of the country’s fintech sector is when global partners, such as GBCI Ventures, become critical. Global partners bring not just much-needed capital to startups, but insight on fintech trends worldwide and experience in transforming a concept into reality.

GBCI Ventures does all that and more. Aside from bringing a veritable venture capital war chest to the tune of USD$100 million, the firm also helps startups hit the ground running by providing business-critical processes that every fintech startup needs.

GBCI Ventures can also leverage their own pool of talents to help startups with developing fintech applications in the Philippines. Their focus on investments that will become critical in the fintech sector, as well as smart cities, will become crucial, especially as the country begins to develop the human capital that will become critical in the coming fintech renaissance.

As the Philippine fintech scene grows, it will need a partner that brings not only much-needed capital but the know-how and drive to innovate. GBCI Ventures and other global players can be that partner that helps bring on a digital transformation.

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Douglas Gan is a serial technopreneur, investor, venture builder and a thought leader in smart city solution using blockchain technology. He currently serves as the co-founder and CEO of GBCI Ventures, a US$100M Smart City Investment Fund as well as BCB Blockchain, a technology protocol focused on the development of smart cities.

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India considers censoring Netflix, Amazon Prime Video – Reuters

A senior government official in India said that the government is considering to censor contents on streaming platforms such as Netflix and Amazon Prime Video, Reuters reported.

The move was encouraged by recent court cases and complaints filed to the police that alleged some content on these platforms to be “obscene” or insult religious sentiment.

Public content on television and film are moderated by certification bodies in India but the existing law does not allow censorship on online streaming platforms.

In January, concerns about this possible censorship had led Netflix and local competitor Hotstar to sign a self-regulation code. Amazon did not sign up this code as the company deemed the existing regulations to be “adequate.”

WeWork loses CMO Robin Daniels – Bloomberg

WeWork CMO Robin Daniels is leaving the company, becoming the fifth C-level executive to step down in the last few weeks, Bloomberg reported.

Citing two people familiar with the matter, the report also highlighted how WeWork is “likely” to run out of money as soon as “next month”, following its failed IPO attempt in September. The company is said to be considering a debt package led by JPMorgan Chase & Co. and a US$5 billion rescue plan from its largest shareholder SoftBank Group Corp.

It is also expected to lay off “thousands” of employees this month.

A WeWork spokesperson has declined to comment.

Also Read: Netflix is a marriage counseling session new parents never expect

Historic all-female spacewalk at ISS scheduled on Friday – The Jakarta Post

US astronauts Christina Koch and Jessica Meir are set to conduct the first ever all-female spacewalk on Friday to replace the power source on the International Space Station (ISS), The Jakarta Post reported.

The mission followed the one cancelled in March due to one astronaut’s ill-fitting suit which led to her replacement by a male colleague.

It will be broadcast in its entirety from 6:30 AM EDT (10:30 GMT) on National Aeronautics and Space Association (NASA) Television and website.

Mark Zuckerberg criticises TikTok’s censorship of protesters – SCMP

Facebook CEO Mark Zuckerberg on Thursday criticised rival social media giant TikTok for its censorship of political content, even in markets such as the US, South China Morning Post reported.

The CEO also stated that social media platforms such as Facebook’s Whatsapp were used by protesters and activists due to its encryption and privacy protection.

TikTok denied China censors its content by stressing that it is “not influenced by any foreign government.”

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I get it-you’re excited about your startup and you can’t wait to get it off the ground. But there are a lot of mistakes you’re making that can land you into legal trouble. And guess what? The continuity of your business depends on whether or not you’re in compliance with the law.

If you are serious about building a startup that won’t fail, then you are in luck. In this article, I am going to walk you through the most common legal mistakes startups make so that you can spot them on time and avoid them.

Mistake #1: Thinking that working with a lawyer in the early stages of the business is unnecessary

Yes, so much is said about law and lawyers that you may feel a bit intimidated by their presence or maybe even apprehensive. But as a startup, one of the grave mistakes you can make is to not have a lawyer you can consult from the initial stages of your business.

So, hire a lawyer who will be there for you when you want to take any decision that will affect your business and ensure that your rights and interests are protected.

Mistake #2: Failing to register the name of the business

So you’ve got a pretty swanky name that you love the ring of. And maybe you’ve told your friends, family and future prospects the name of your business. Or maybe you went further to design and print business cards and even launched a website. Then the bomb drops:  you find out that an older business is using the name that you wanted to use.

Also Read:  Developing your brand voice on social media: 5 mistakes to avoid

It’s literally heartbreaking when you see someone else using your world-class business name. But the only way to ensure that such a thing doesn’t happen is to register your business name. Sadly, some people still see their business as a hobby, so they go the longest time without registering their business name.

When you initiate the process of registering the name of the business, one of the processes you’ll encounter is a name check. At this stage, you’ll be able to know if the name you want to use for your business exists or not. If it does, then you will have to use an alternate name for your business. However, if it doesn’t, then you will be allowed to proceed with the business name registration process.

Mistake #3: Overlooking the need to have a non-disclosure agreement

For the purpose of getting advice, engaging the services of professionals or hiring people, you will have to share some information about your startup. However, sharing this information could put your startup at risk of having its ideas stolen or leaked to people who aren’t meant to hear such information. Yes, these things happen in real life.

In such a case having a non-disclosure agreement (NDA) that the person you want to share business information with can sign will ensure that such information remains confidential. In the event the person breaks this agreement and shares such information, you will have the cause to sue them for breaking such agreement.

Mistake #4: Not doing anything to protect your intellectual property

If your startup has created a unique technology or product and you’ve done nothing to protect it from being stolen by someone else, then you’re making a fatal mistake. And you guessed it – the need to protect the startup’s intellectual property rights eludes some startups.

When it comes to protecting the intellectual property rights of your business these are some of the protective measures you should take:

1. Patents – protects your invention and prevents others from reproducing, using or selling the same invention.

2. Trademarks – protects the distinguishing symbol or name that your business is identified with. Good examples of trademarks are the words “Coca-Cola” or the tick symbol of Nike.

3. Copyright – protects the original creative work like videos, music, art or books. This right gives you exclusive rights to lawfully make copies of your work or sequels of it.

Mistake #5: Keeping yourself vulnerable without a standard contract

A lot of startups have fallen in situations where clients hire their services only for their clients to fail to pay on time or have a disagreement on your rates and how the project was meant to be like. More often than not, it can get pretty messy.

Also Read: 5 mistakes to avoid when building a business from scratch

With a standard legal contract, both you and your clients will be clear on the terms of engagement.

Such a contract will ensure everyone knows what their rights and obligations are to each other and cancel any doubt as to what is expected from the outcome of the contract. It’ll give you the needed protection when it comes to delivering your services to the client.

Time to turn a new leaf

This article might have put you on the spot in some areas, but I promise it’s for your own good. Now that you know that you should register your business and protect your intellectual property and your business interest and of course, the most important of them all: hire a lawyer. Its time to makes some changes.

Honesty hour: Are you guilty of making any of the legal mistakes we mentioned?

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