In EDA’s fourth event, members learned how to minimize risk in sharing their business

ideas and learned the legal aspects of a start-up.

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Andre Garber, Denton’s Startup Lawyer, led the first part of the event. He delivered a

presentation about how to set up, protect, and finance your idea. Members learned

about the advantages and disadvantages of the three common business structures: sole

proprietorship, partnership, and corporation. Garber also discussed about the main

stakeholders in a company, shareholder rights, and different classes of shares.

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Moreover, students learned about how to protect their intellectual property. This is key

since you would not want others to know the “how” of your business, or to use your

knowledge. It is essential in situations where for example, you want to evaluate a

potential business partnership, but you need to disclose details to people who are not

yet a part of your company. Garber recommended utilizing a non-disclosure agreement,

which is a legal document that prevents others from discussing protected information.

In the second part of the event, Christ Atkinson, Growth Directors at DCCPER gave

practical advice for budding entrepreneurs. His tips include doing things that feel

unnatural and knowing the game, which means having expertise in various areas.

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Another important point is enrolling people in your vision. This means getting people to

buy into your idea and recruiting people onboard. Advisors are people who will help you

to build your business. You can give a small percentage of shares to people who you are

recruiting, to build commitment. In addition, Atkinson gave tips on how to avoid self-
destruction and different types of resources that are available to building your business.

To end, he said an interesting quote: when there isn’t a fire, rub sticks together.

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Through this workshop, attendees were able to gain a better understanding of the legal

aspects involved in starting their own business, as well as obtaining practical advice

from an experienced entrepreneur.