Undoubtedly, now is quite an exciting time to be a part of the tech industry. Innovations are bursting onto the scene at record speeds and positively impacting just about every other industry alongside their own.
That said, if you are a tech business owner looking to be a part of the revolution, you must look past your product ideas and consider how you will protect your business in the constantly shifting landscape.
Thankfully, doing so can be as simple as hiring a technology attorney. With the help of their knowledge and experience, you can take your business idea from dream to reality without worrying about burdensome legal issues.
Business Formation
It’s better to retain a technology attorney before you even form your business entity.
While you may think you should wait until your software application or innovative tech product hits the market to retain a lawyer, it’s better to retain a technology attorney before you even form your business entity.
Your lawyer can help you select the right business entity and file the proper foundational documents, such as articles of incorporation and bylaws, while ensuring you are in regulatory compliance with any licensing or permit requirements.
Intellectual Property
Though you may not be concerned about copycats during the product development phase, your technology attorney will be. They’ll search the trademark database, register trademarks and copyrights, and set up intellectual property defense and litigation procedures.
Technology attorneys can also help you draft non-compete and non-disclosure agreements, contracts that help ensure employees and partners aren’t able to get away with exposing your trade secrets to the public or a competitor while or after working with your business.
Emerging Technologies
When new technologies hit the market, questions and concerns often arise about data privacy and whether they violate another platform’s terms of service, especially if the new product relies on personal information.
Your technology attorney can help you navigate these concerns and avoid compliance issues without stifling your creativity or innovation, which is critical for success.
Service Agreements
If you don’t know what should go into your agreements or how to word them to protect your business, you put yourself, your products, and your company at risk.
You need master service agreements and other contracts to define the scope and terms of your work with vendors and your obligations to your customers. That said, if you don’t know what should go into your agreements or how to word them to protect your business, you put yourself, your products, and your company at risk.
Hiring a technology attorney gives you the legal help you need when drafting these agreements. Your lawyer will know the ins and outs of the tech industry and can help you avoid disasters and resolve disputes quickly, should they arise.
Preventing Data Breaches
A tech attorney helps you manage risk from every angle.
Considering the cost of the average data breach is $4.45 million, you can’t afford to be haphazard about protecting data if your tech startup or firm is working with technology that collects or uses sensitive user information.
Technology attorneys not only harbor a deep understanding of the greater tech arena and the cybersecurity issues that plague it, but they also have a firm grasp of the regulatory landscape regarding data security requirements.
In other words, a tech attorney helps you manage risk from every angle. They use the information they gather to draft policies and plans that help you secure user data and protect your entire business.
Proper Risk Management Is a Must for Every Tech Firm
A technology attorney not only works to protect your business but also adds legitimacy to it, which is attractive to investors. Without one, your business may miss critical benefits that help you stay compliant, in the running for funding and other lucrative deals, and — perhaps most importantly — out of harm’s way.
Fortunately, a tech law attorney from Lancaster Law helps startups and tech firms in Lancaster, PA, and the surrounding areas achieve those goals. Call today to take advantage of their flat-fee structure, schedule a consultation, and get your business on the right path.