Blog Entry 4
The focus of today by team Alfa was on the legal aspect of business, figuring out the technicalities of developing our company and software. The firm Peltonen, Ruokanen & Itäinen gave an hour presentation, and then offered us a one on one consultation session in which we were allowed to address our concerns.
Two important pieces of information we learnt were that:
- There is a distinction between Trademarks (differentiate your business), patents (technical solution), copyrights (codes, creative element)
- Rule of thumb; establishing a company requires on average 3000 euros (2500 Euros share capital,350 to fill in law documents/registration forms of LLC)
A few of the questions that were mentioned were: which place would be best to form our business, would a patent be required, would we be infringing on any current copyrights or patents, and whether or not people with legal experience dig our idea. In the end, the discussion ended with a few important notes:
- We have a lot to figure out on the legal perspective to secure our backs
- It doesn’t matter where you have your company situated until the moment you start making serious money
Work happened on developing pitching skills (team member Joni), along with work on the development of the application as well. Till our next post, that’s it for today folks!
