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Forums Forums Q & A Mitigating financial/legal risk with a new business

  • Mitigating financial/legal risk with a new business

    updated 2 weeks, 2 days ago 0 Member · 1 Post
  • Christine

    Member
    October 26, 2019 at 12:17 pm

    Disclaimer: not pretending to have any experience with entrepreneurship, just genuinely looking for some insight on the topic. Let’s say I want to start a new venture, for the sake of example software-related. Really just bootstrapping it on my own. Exactly what sort of legal/financial risk am I opening myself up to when I start gaining an actual user base? As an individual, can I be held accountable to laws like GDPR, etc. and be expected to be fully compliant in the way I protect user data? If I fail to meet some security standard, etc. and something does happen to go wrong, can I be sued into non-existence? The follow up question is how it is possible to avoid these risks and concrete next steps I should consider. The allure of starting something new is pretty strong, but at the moment it’s more terrifying than anything. Any advice would be greatly appreciated, thanks in advance. – by hq overview benjkara – –

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