Innovation can turn interesting ideas into viable and then successful companies and this is often seen as the catalyst that initiates the incorporation of new companies. However, companies may also fail if they stop innovating. Luxembourg is rapidly emerging as a technological European Start-up hub. Attracting and nurturing start-up businesses from around the world, entrepreneurs may have many questions about Luxembourg local laws, business regulations and compliance.
As a full-service law firm, assisting local and international clients for more than 90 years in Luxembourg, including more than 15 different nationalities and with an average age of 36 years, innovation is key and part of Wildgen's longstanding success. Our services continuously evolve to meet our client's expectations and shift social trends and preferences. For a company and for our clients, avoiding innovation faces an ongoing risk of becoming irrelevant Therefore we help them to protect and secure their innovation and ownership via specific advisory assistance and via efficient litigation in relation to the defence of their IP rights and commercial relationships.
Risky business
It became natural and logical to the firm to launch a new service conceived as a legal hub for start-up businesses in line with the sponsoring of the Luxembourg Venture Lounge "Biotech" event since 2012 and our involvement in the development of new technologies and film industry sectors in Luxembourg.
Most of start-ups have an idea but they usually have no budget for legal analysis and consequently may make initial mistakes that impact the future of their ownerships or protection of their IP rights. Usual pressing questions are always very similar such as: Is my idea subject to protection? How could I limit my personal liability? Should I opt for this type of legal company form? How do I combine ownership of IPRs and growth and tax implications? What's the trademark's filing strategy in terms of territories, products and services to be covered and type of trademark (complex, figurative or word)?
We often see concepts coming to life and entering the marketplace with little or no legal guidance, which is risky business.
A new dedicated project
Through the Wildgen 4 Innovation project, we guide qualified start-ups through the complex and at times confusing areas of business law. Today, our dedicated team provides emerging businesses with pro-bono services, flexible rates, and comprehensive packages and serves them based upon five guiding principles, which can benefit many small companies interested in leveraging innovation as a growth platform:
- Reliability: a prior phone call with a member of our dedicated team will determine the scope of needs on which we may help and the contact person within the team;
- Efficiency: the team is well-experienced and covers all areas from the very early days of the project to the various steps of business development and continuity of the company;
- Accuracy: the team gathers people embracing a real passion for innovation;
- Flexibility: alternative arrangements to hourly fees are proposed i.e. delivery of pro-bono services, implementation of flexible and adaptive packages or monthly subscription; -
- Openness:the team includes various nationalities and speaks several languages.
We aimed at encouraging innovation as many people conflate it with invention. Should this difference be well understood, innovation is then seen as a core value to be embraced.
