Blockchain – legal tips
for your start-up
It's a complex
arena, but,
remembering solid
good business
principles can help
bold entrepreneurs
navigate this
territory effectively...
Louw Bothma
Blockchain was all the rage in 2017
and seems poised to explode (or is it
implode?) in spectacular fashion in 2018.
Whether you are about to dip your toe in
to test the waters, are already in knee-
deep, or are totally engulfed by the raging
river that is the world of cryptocurrencies
and blockchain-inspired crowdfunding
ventures (known as initial coin offerings
(ICO's)) - taking stock of the following tips
might prove useful.While the potential quandaries faced
by entrepreneurs are endless, and are
not comprehensively addressed, here
are some basic legal considerations that
start-ups should bear in mind when
progressing from a market researchinvestigation into a business venture. This
includes Setup, Intellectual Property (IP),
Regulations, Product and Investment (the
SIRPI approach).SETUP
Irrespective of the type of business
you are starting, certain things remain
standard, such as deciding on your
preferred business entity (partnership,
company, trust, etc.), registering it
according to its legal requirements and
drafting the constitutional documents for
your chosen vehicle.In blockchain ventures it is common
that up to three business entities areTECHNOLOGY