CHAPTER 9

The Legal Setup of Your Startup

Startups are distinct from research projects. They are businesses, not projects. For example, different minimum viable products are projects of your startup: each may have a budget and a deadline. Thinking of your venture this way helps put things into perspective and approach it more professionally.

When you engage people outside the university, they need to perceive your startup as a business. Part of this is having the proper legal setup and financial structure. However, most university startups are never properly incorporated; they put this off until an investor or venture capitalist knocks on the door with an investment proposal. This is a classic catch-22. Startups wait to set up their business ...

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