Gernot Wilfling, corporate lawyer and support partner at Müller+Partner Rechtsanwälte, was a guest at the After Business Coworking event. In his practical keynote address, he provided valuable insights into the legal foundations of starting a business and explained how founders and entrepreneurs can protect themselves legally from the outset.
A key topic was vesting provisions, which are often crucial for start-ups and new businesses. Wilfling explained why vesting arrangements are an important part of every partnership agreement and how they prevent conflicts when a founding partnership doesn’t go as planned.
Key questions surrounding the following were also discussed:
- Protection against internal and external risks
- Contents and regular updates of rules of procedure
- Unfair competition and how to protect yourself legally
- Risk shifting and liability issues
- Subordination clauses and their significance in financing
- Succession planning and aspects of selling a company
- Scenarios such as insolvency, liquidation, or powers of attorney
The lively discussion with all participants made one thing clear:
Those who address legal frameworks, contracts and risk management early on can have decisive advantages in an emergency.
