Welcome to Startup Law 101

Physician entrepreneurs and startup founders have a steep learning curve. It takes not only education, but access to resources, networks, mentors, investors, peer support and career guidance. But, most of the learning comes from attending the school of hard knocks i.e experience. Doctors call the result clinical judgement.

However, online education and training tools abound, so, the only excuse you have for not spending tme on the chalk talk is your willingness to spend the time learning.

One module you should review in the startup school curriculum is startup law. The usual topics include:

1. Entity formation
2. Corporate governance and structure
3. Equity issues
4. People issues
5. Employment law
6. Compensation agreements
7. Mentors and advisors
8. Contract and business law
9. Entrepreneurial finance
10. Bankrupty basics

Here are some resources to get you started:

1. Laws and regulations affecting your startup
2. Entrepreneurial finance and accounting

3. How to choose the right business entity

4. How staff your startup team

5. What you need to know about stock options

6. Choosing board members

7. How to divorce your cofounder

8. How to fund your bioscience or digital health idea

9. How to bootstrap your idea

10. Mentors are not sponsors

Please note that if you decide to practice entrepreneurship, there will be a pop quiz every day and grades won't be posted until the result of your choice is evident. Grading will be on a pass-fail basis. It will help to find an entrepreneurial lawyer to help choose your answers.

Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs