Intellectual Property (IP) is the biggest asset for most venture-backed companies, and having unclear IP can quickly scuttle or delay deals.

Founders should resolve any issues regarding ownership in writing early on, such as confirming if a friend does not want to be involved anymore.

It's crucial for a company to own any created IP from the start, which can be established with a simple IP assignment agreement for a nominal amount.

If you lack connections to lawyers, the best referrals often come from fellow founders, so reach out to them for recommendations.

If you don't have a network of founders, you can contact Fenwick for assistance or guidance in finding legal help.