Anni Säär on Why Good Rules Make Good Friends

03/10/21 • 19 min

While having a concrete problem to solve is primary, it is important to not neglect getting the right team.
The founding members of a team and how the relations between them are governed is important for the success of your startup. This includes ensuring sustainable growth, reaching markets, having appropriate expertise and appealing to investors. Annabel discussed with Startup Wise Guys’ Legal Officer, Anni Säär why team formation is so crucial for a successful startup.

Topics explored include:

Why should you consider your team’s legal relationship from the start?

How do you create legal relations or rules to govern your team?
What is a Shareholder Agreement (SHA)?
Examples from real startups on why not having a SHA in place can break the startup.
What is reverse vesting?
What is a cliff?
What should you look out for in agreements between you and an investor?
Is it important to carry out due diligence on an investor?
And why Anni says “you have to treat your startup as you would treat a marriage.”

Savvy by Sparring is a show where we reveal the stories founders, investors and other startup ecosystem players face when they do not consider legal questions at an early stage. Get your startup off the ground with business inspiration, meshed with legalities, including how startups incorporated, protected their works and raised funds in a (legally) smart way.
You can find Sparring's Startup Playbook which supports the show here: https://playbook.sparring.io/

Topics explored include:

Why should you consider your team’s legal relationship from the start?

How do you create legal relations or rules to govern your team?
What is a Shareholder Agreement (SHA)?
Examples from real startups on why not having a SHA in place can break the startup.
What is reverse vesting?
What is a cliff?
What should you look out for in agreements between you and an investor?
Is it important to carry out due diligence on an investor?
And why Anni says “you have to treat your startup as you would treat a marriage.”

Previous Episode

Open Source Law with Majo Porvažník and Marek Križka

Founders desire to move fast and reach their full potential. However, how can they do that when valuable information necessary for their growth is out of reach?
Legal advice is typically expensive, confusing or even hard to find. However Sparring is looking to change that. In the introduction of Savvy with Sparring, Majo Porvažník and Marek Križka, Co-Founders of Sparring, explain why making legal more accessible for early stage startups is needed.

They introduce:

What legal support do founders need?
What legal support is currently available?
What is the Sparring Playbook and how can legal advice learn from the technology world?
How can clear templates be helpful?
How could legal advice for founders improve?
And how Sparring “grew from the tears of CEE founders”

Next Episode

Jaroslav Lupták On External Funding For Global Ambitions

Think you are ready for pre-seed or seed funding? While gaining some extra money for your startup can allow expansion of your business, advice, and a potential global stage, there are also other factors to consider. Ensuring you do not give away too much equity, finding an investor that gets your startup, and not putting your startup in an investor's hands are just some examples. Annabel spoke to Jaroslav Luptak, Investment Manager at Bratislava based Venture Capital, Neulogy Venutres, to share insights on how startups should approach early stage investment.
This episode is split into four parts: a) do you need funding? b) what are you looking for in an investment? c) how can you find an investor? d) what are investors looking for in you? Along the way we demystify what an accelerator is, funding rounds and share advice about advisory boards.
Savvy by Sparring is a show where we reveal the stories founders, investors and other startup ecosystem players face when they do not consider legal questions at an early stage. Get your startup off the ground with business inspiration, meshed with legalities, including how startups incorporated, protected their works and raised funds in a (legally) smart way.
You can find Sparring's Startup Playbook which supports the show here: https://playbook.sparring.io/