In April 2016, the European Union (EU) introduced the General Data Protection Regulation (Regulation (EU) 2016/679) (GDPR) and the GDPR is set to take effect from 25 May 2018. This is the biggest change to happen in the regulatory framework of privacy to date and the GDPR effectively ushers in a new era of a strict rules concerning privacy and data security with severe penalties for non-compliance.
In Australia, the Corporations Amendment (Crowd-sourced Funding) Act 2017 introduced the regulatory regime for this type of funding on 29 September 2017 which allows equity crowdfunding (or crowdsourced equity finance as your government-y folk like to call it). There’s been a lot of excitement, but not a lot of clarity on what that actually means for companies. So we’ve decided to change that!
If 2016 was our year to establish Law Squared, 2017 was a year of such rapid change that it was sometimes hard to keep up. Rapid and exhilarating progress and unforgettable moments as a team has alternated with more challenging times, and as with most high growth businesses, our fair share of growing pains.
In reflecting on the year, three things stood out to me that I consider to be some of the most valuable (and to be honest, hard-won) lessons I’ve learnt this past year…
Read in light of my own experiences founding a a law firm dedicated to support startups and entrepreneurs, the Startup Muster's 2017 Annual Report reveals the undeniable reality: there IS a startup ecosystem in Australia, and it is an ecosystem that is diverse, growing in size, and in dire need of legal skills and assistance.