Alto Avocats and Patelet & Partners are coming together to launch the first entirely digital platform for legal and tax solutions: My Lux Startup. Their prices are publicly posted and organized into catered packages scaled for young entrepreneurs. We met Arnaud Touati, Associate Founder of the French law firm Alto and Avocats, as well as Elise Patelet, founder of the Luxembourgish company Patelet & Partners, to get some more information about the new platform and its proposed services.
What are the most common legal needs for startups?
On the Luxembourgish market, startups have a few general needs; more specifically, assistance with the creation of the company’s legal status, or “softlanding,” and with the installment of a legal framework and documents (Work Contracts, Sales/Usage Conditions, Brand Submission, obtaining a Luxembourgish titre de séjour, obtaining an authorization of establishment, registering the company under TVA, etc.).
Once the company establishes itself commercially and begins looking at fundraising, they need assistance with more technical matters. The My Lux Startup team’s primary mission is to propose and establish the most adequate means of financing for startups who are at the fundraising stage. For example, the My Lux Startup team will participate in the elaboration and improvement of planned conditions in settled stakeholder agreements and formal conclusions with investors, as well as make sure that founders keep proprietary title on their innovation and project in the stages after fundraising.
In all, startups need to be reassured. They need to know that on the legal and fiscal level, they have nothing to fear—that they can peacefully focus on other aspects of technical, commercial and financial development. The main idea is to give startups a team of experts that they can entrust with all legal and financial questions on a given project or enterprise. This structure allows startups to develop and work on commercially expanding their projects.
“After speaking with startups and investors, we came to the conclusions that it was important to propose a transparent invoicing and rates system in order to respond to the needs of global actors and stakeholders for whom management and cash flow are two of the most important elements in their business.”
Can you explain exactly what My Lux Startup is? What services do you offer?
My Lux Startup is an entirely digitalized platform—after the nature of what Startups themselves provide—based in Luxembourg that offers legal and financial solutions not only for startups, but also for entrepreneurs, professional and private investors, and companies already established in the Grand-Duchy who need legal and financial counsel. My Lux Startup’s solutions are formed for these clients’ needs, at attractive and transparent prices.
In terms of scope, these services run the gamut from the simple creation of a company to fundraising, all while providing legal structuration and complete fiscal activity: drafting partnership contracts, CGU/CGV, work contracts, tax preparation and declaration, etc.. The whole process goes through a legal and financial inspection designed to optimize profit.
Why did you publically formalize the packages?
We are supporters of transparence. It seems thus logical to publicize our charges and to regroup them in packages in order to provide the best offers, and above all, the best rates.
After speaking with startups and investors, we came to the conclusions that it was important to propose a transparent invoicing and rates system in order to respond to the needs of global actors and stakeholders for whom management and cash flow are two of the most important elements in their business.
“The goal is to bring the dynamism established in the French entrepreneurship and innovation sphere to Luxembourg while benefiting the unique technical and international approach found in the Luxembourg’s financial sector.”
What do you expect for the future of My Lux Startup?
We obviously hope to develop relations between France and Luxembourg in order to show Luxembourg’s world of entrepreneurship that we have the legal and financial solutions they need to succeed, and to collaborate with them long term.
The goal is to bring the dynamism established in the French entrepreneurship and innovation sphere to Luxembourg while benefiting the unique technical and international approach found in the Luxembourg’s financial sector.
It’s the right occasion, as much for Alto Avocats as for Patelet & Partners, to spread the network and to diversify activity on the international scene.
(Photo by Štefan Štefančík on Unsplash)