As a tech-driven legal startup, LegalVision uses its data to identify trends and predict common legal issues in the SME and online business space.
The report combines results collected in a client survey, as well as analysing data from LegalVision's custom-built CRM.
The report recognises a number of legal obligations that business owners may be failing to address, including areas of business structuring, intellectual property, loans and financing, business disputes and online business.
The inaugural report provides a fresh insight into the legal needs of SMEs and online businesses in Australia. Some of the insights include:
- The number of businesses that identified business structuring as a key legal challenge;
- The number of business owners who are failing to monitor their trade marks for infringements;
- The number of business owners who were not aware of the Australian Privacy Principles;
- How startups are looking to raise funds in an extremely competitive market; and
- Where the majority of dispute litigation is taking place.