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In the fast-paced and competitive business landscape of Hong Kong, startups and small to medium-sized enterprises (“SMEs”) have to be at the cutting edge of innovation. However, with the growing societal awareness over the importance of protecting intellectual property rights and trade secrets, it is paramount that such rights and trade secrets are recognized and
In the dynamic and fast-paced business ecosystem of Hong Kong, startups and SMEs are key players, employing over 1.2 million people, which equates to about 45% of the private sector workforce as of 2021. Establishing comprehensive employment agreements and policies is crucial for these businesses to ensure legal compliance and foster harmonious employment relationships. This
Hong Kong’s thriving startup ecosystem has led to increased opportunities for early-stage companies to secure funding. One of the most common sources of funding for early-stage startups is angel investors, who can provide the necessary financial support and industry expertise to help startups flourish. Angel investors differ from later-stage equity investors in several key aspects. They typically possess a higher risk
Starting a new business adventure means managing multiple exciting activities simultaneously: product development, marketing, sales, etc. With so many things to get done, legal aspects usually tend to take a back seat. Many founders consider legal advice a luxury, assuming that their bootstrapped startups cannot afford it. Unfortunately, this leads to all sorts of legal
We are frequently asked by our startup clients whether or not written contracts are strictly necessary, particularly during the early stages when their business may not be much more than a great idea about a product or a service. We are aware that founders frequently jump into building their businesses without any written contracts but
To conserve cash and operate as cost-efficiently as possible, many startups and SMEs will try to grow their teams by engaging independent contractors, interns and other unpaid workers. Although these alternatives may seem appealing, employers do not have unlimited freedom to choose how they fill vacancies. Any individual who is essentially performing the work of