Are you an entrepreneur? (Part 1)

in #laws7 years ago


Law tips for starters

Location laws

The key challenge facing any company that is looking to roll out their ICO is what jurisdiction to base your operation from. The Singapore, Hong Kong, Switzerland, and his list goes on, battle still continues to rage between industry experts. However, from a compliance perspective one thing often gets overlooked, the contract laws of the jurisdiction.

Contracts that are written for and on behalf of your company must be compliant with their incorporation jurisdiction. Take a moment to think about that. Your Singapore company cannot write contracts that do not conform with Singapore law (or whichever country you form in). Granted, this does not cause such an issue when it comes to the actual writing of a contract for most jurisdictions as contract law has evolved to make writing contracts easy. However, if I read another contract that doesn't feature terms that are compliant with the countries laws I may start throwing papers off my desk.

When writing your contract, even if it is just a first draft to put in front of a lawyer, make sure that you do some basic research on the required provisions of contract law within the country you have formed your business in.

Source:
https://cointelegraph.com/news/looking-at-legal-issues-of-ico-terms-and-conditions-dos-and-donts

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