"Get the basics right from the very beginning"
Back in 1971, when I was more gung-ho, I wrote in my notebook: "We don't need lawyers." But over the years, stating our agreements in clear and unumbiguous terms has provided, again and again, to have been vital for our success. Our contract with T-Mobile, in particular, turned out to be a vital document for us. Incurring unnecessary legal fees can ruin your start-up, but the answer, I now think, is not to ignore the lawyers, but to get the basics right from the very beginning. Any start up business should sit down and take a long hard look at its legal agreements.
Richard Branson - Business Stripped Bare, Virgin Group