- Legal Bites for Founders
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- Is this the end of late invoices?
Is this the end of late invoices?
Legal Bites for Founders
Hey there,
Some of the most popular questions we get are around investment…
How do I get it?
Which type should I go for?
Now that I’m talking to an investor, how do I make sure the process continues smoothly?
So today, we’re outlining what you need to have in place before due diligence begins.
Plus, to make sure all your investment questions are answered, we’re hosting two webinars on investment:
🚀 This Friday, 12 September, we have: Seed Strapping: How to Raise Investment Without Losing Control of Your Startup. You can save your spot here.
🚀 And on Tuesday, 30 September, we have: How To Become Legally Investment Ready. You can save your spot here.
Oh, and big SuLe news: we’re now integrated with Companies House! All your filings, shareholder details, and share classes are now neatly pulled into SuLe: templates auto-fill with your Companies House info (bye typos!), and you’ll get deadline reminders so nothing slips. Soon, you’ll even be able to file straight from SuLe. 😉
1. Our Most Asked Question in August:
I’ve got an interested VC, now what? 🤔

First off, congrats! Here’s to the next stage of your business’s growth.🥂
Now, investors love momentum. Nothing slows a deal faster than messy legals. So here’s what to tidy up before the diligence begins:
Founders’ Agreement: Handshakes don’t cut it. Make sure you’ve put equity, roles and exit terms in writing.
Contracts: Make sure customers and suppliers are tied to clear terms. If someone defaults, you’ll want recourse.
Team agreements: Employees and consultants need contracts covering IP, confidentiality and (ideally) non-competes.
IP ownership: Register trade marks, assign rights from freelancers and use NDAs for trade secrets.
Company records: Keep Companies House filings, registers and board minutes up to date.
Data policies: GDPR compliance isn’t optional. Have a privacy policy and proper data safeguards.
Investors aren’t just buying your vision. They’re buying into how well you run the business. Clean it up now, and VC investment will go smoother.
2. Noteworthy News:
Is this the end of late invoices? 👏

Big companies paying their invoices late? It’s a big problem for SMEs, who often have tight cashflow. But the government wants to help!
Payment terms could soon be capped at 60 days (45 after a phase-in), disputes must be raised fast, statutory interest is mandatory and repeat offenders could get fined.
The Small Business Commissioner will get powers to fine repeat offenders, and boards will need to report on payment performance.
Why should this matter to you?
While this is still out for consultation until 23 October, your big customers will, hopefully, soon have shorter terms and tighter payment processes. And don’t worry, we’ll keep you updated.
3. Legal Reminder Of The Month:
Don’t Skip Your Founders’ Agreement 🙅♀️

The best time to sign a Founders’ Agreement? Before you need one. Think of it as a prenup-meets-business-plan that does three key things:
Keeps the peace: clear roles, equity splits, and exit terms stop small disagreements from becoming company blowups.
Protects your IP: all creations (code, designs, business plans) stay with the company, not individuals.
Signals to investors: VCs love teams who’ve thought beyond product to governance and long-term alignment. It’s one of the first things they’ll ask for in due diligence.
Check that your Founders’ Agreement includes all of the following (or get one in place asap, making sure it covers everything below!):
Roles & responsibilities – who does what, and how much time is expected.
Equity & vesting – who owns what %, and when it’s actually earned.
Decision-making & governance – how choices get made, and what happens in a deadlock.
IP ownership – all creations (code, designs, plans) are assigned to the company.
Remuneration & expenses – who gets paid, when, and how.
Exit & termination – what happens if someone leaves, underperforms, or breaches.
Non-compete & confidentiality – guardrails to protect the business during and after.
Dispute resolution – a clear path (mediation, arbitration) before things blow up.
Messy founder relationships scare investors more than messy cap tables. Get it in writing early, and you’ll thank yourself later.
4. Funding & Award Opportunities 💸
💰 Poker Power x IFW $100,000 "Power Play" Small Business Grant: This isn't your typical grant program. They’re looking for an extraordinary entrepreneur who understands that running a business—like playing poker—requires strategy, calculated risks, and the confidence to trust your instincts.
🏆 The King's Awards for Enterprise: The King’s Awards for Enterprise are for outstanding achievement by UK businesses in the categories of innovation, international trade, sustainable development and promoting opportunity through social mobility. Applications close 9 September.
🏆SME London Business Awards 2026: The London Chamber of Commerce and Industry SME London Business Awards are an exciting opportunity to support and share in our vision to raise the profile of industrious, hardworking and enterprising SME’s in the region. Applications close 25 September.
5. Upcoming Entrepreneurial Events 🤓
12 September: Seed Strapping: How to Raise Investment Without Losing Control of Your Startup with SuLe and Focused For Business – In this practical and interactive session, we’re covering everything from avoiding common legal traps and staying in control of your equity to understanding funding options, what investors look for, and alternative strategies to grow without over-diluting.
19 September: Bae HQ: Startup Coffee Corner with Joelson – Meet fellow founders, and connect with investors and operators from across the Start-up ecosystem.
22 September: Smart Selling - How AI is Transforming the Modern Sales Playbook – From predictive lead scoring to personalised outreach, real-time coaching, and advanced analytics, this session will demystify how AI is being integrated into every stage of the sales funnel to create measurable impact.
25 September: London tech job fair 2025 – This 3-hour event is designed to help employers connect directly with diverse talent through networking, sourcing and hiring opportunities.
25 September: The Future of Venture Capital: Investing in a World Transformed by AI – This panel discussion will bring together leading voices from the worlds of venture capital, AI, and entrepreneurship to explore how the rise of AI is redefining the investment landscape.
30 September: How To Become Legally Investment Ready with SuLe – Join us as we break down the must-have legal essentials investors look for - plus real anonymised stories of legals gone wrong (and how to avoid those costly mistakes)!
And that’s all for this month. May your invoices be paid on time and your cash-flow healthy. 🏦
– The SuLe Team