Episode 62 Journey of Protecting Your Assets in Your Business to Sell Easily When You are Ready to Exit

Our guest today is a lawyer who hasn’t worn a suit since 1995. She’s truly disrupting the legal industry, tune in to find out how.

Episode Introduction: 

Erin Austin joins us on Law Chat with Girija to talk all about the importance of protecting your intellectual assets to be able to sell your business without hassle when the time comes. She shares valuable tips, fun anecdotes, and note-worthy hacks with us. 

Episode Summary: 

Erin Austin walks us through her journey of working as an intellectual property lawyer in the movie business to now helping female founders protect their intellectual assets to make sure that their business has a legally solid foundation when they’re ready to sell it.

Main Takeaways:

• Use law in a strategic way so that it protects your business instead of using it as an outlet to get out of legal trouble while spending a lot of money. 

  • Contracts are the only way to transfer ownership of your intellectual property.

  • It is very important to go through the terms and conditions of any third-party software that you may be using in order to understand what you’re authorized to use their platform for.

  • Intellectual assets go beyond movies, books, paintings, and other major publications.

  • Wealth empowers you to make an impact.

  • Always remember that a potential buyer is interested in the future of your business, not where you’re currently at.

  • Potential buyers are interested in things such as your business’ revenue, systems, and processes, market position, branding, business insights, etc.

  • Make sure you have client contracts and errors and omissions insurance in your business.

  • You need to find synergy in your business so that all the different aspects are working towards the same common goal.

Fun Facts About Erin Austin:

• Some of her favorite business tools are Zoom, MS Office, ClickUp, ConvertKit, LinkedIn, and Google Workspace.

  • She would recommend you to read The Business of Expertise by David C. Baker and listen to The Business of Authority Podcast by J. Stark and R. Moulton. 

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Find Erin Austin:

Website: https://thinkbeyondip.com/

LinkedIn: https://www.linkedin.com/in/erinaustin/

Connect With Girija:

Website: https://www.gbplaw.com/

Instagram: https://www.instagram.com/gbplaw/

Facebook: https://www.facebook.com/GBPLaw/

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