In entrepreneurship, a strong idea must be supported by a strong legal foundation. That was the focus of the third session of the 2025 Fall Founder Fundamentals series, led by Suresh Sriskandarajah, technology and business lawyer, engineer, and entrepreneur. As Co-Director of the UOttawa Startup Law Clinic and lecturer at the Lincoln Alexander School of Law, Suresh brought a practical and educational perspective to the legal side of building a business.
Building a Legally Sound Foundation
Suresh began by stressing that a business plan is not just paperwork, but a tool to secure funding, attract partners, and provide clarity. Suresh opened the session by emphasizing that legal setup is not an afterthought but an integral part of long-term success. Founders were encouraged to think beyond day-to-day operations and view legal structure as a strategic investment in their venture’s future.
He outlined key considerations when deciding how to structure a business:
- Sole Proprietorship vs. Incorporation: Understanding personal liability and the benefits of creating a separate legal entity.
- Provincial vs. Federal Incorporation: Determining where to register and how jurisdiction affects compliance.
- Partnership Agreements: Clarifying responsibilities and protecting co-founders before formal registration.
“Legal structure is more than paperwork — it’s your foundation for credibility, protection, and growth.” — Suresh Sriskandarajah
Compliance as a Continuous Commitment
Moving beyond incorporation, Suresh addressed an often-overlooked aspect of entrepreneurship: compliance. He explained that incorporation is only the first step, and maintaining accurate records is a legal obligation.
Founders learned about the importance of:
Preparing for Growth: Demonstrating professionalism and accountability to investors, partners, and regulators.
Maintaining Minute Books: Recording bylaws, shareholder information, and annual resolutions.
Staying Tax and Legally Compliant: Filing annual returns and ensuring all director changes and share issuances are documented.
Protecting the Business and Its People
Suresh also discussed how contracts safeguard relationships and intellectual property. He walked participants through essential agreements every startup should have in place:
- Non-Disclosure Agreements (NDAs): Protecting sensitive information when collaborating.
- Shareholder Agreements: Defining roles, rights, and exit strategies among partners.
- Intellectual Property Protections: Understanding trademarks, copyrights, and patents in Canada.
These contracts, he noted, not only prevent disputes but also signal professionalism to clients and investors.
Turning Knowledge into Confidence
Drawing from his own journey — from engineering roles at Amazon and Nvidia to building a boutique law firm in Markham — Suresh encouraged founders to see legal literacy as a tool for empowerment.
He reminded attendees that having the right legal framework early allows founders to focus on innovation with peace of mind:
“Doing things right from the start doesn’t just save time — it protects your future.” — Suresh Sriskandarajah
About Founder Fundamentals
Founder Fundamentals is a 12-week workshop series hosted by YSpace and Black Enterprenurship Alliance and powered by City of Markham designed to equip you with essential entrepreneurial skills. Attend 9+ workshops to earn a Certificate of Completion and take the first step toward entrepreneurial success!
About the Speaker
Suresh Sriskandarajah is a technology and business lawyer, engineer, and entrepreneur dedicated to empowering founders through legal literacy and innovation. As Co-Director of the UOttawa Startup Law Clinic and lecturer at the Lincoln Alexander School of Law, he bridges the worlds of law, business, and technology to equip the next generation of entrepreneurs with practical legal foundations. Suresh is the founder of Suresh Law Professional Corporation, a boutique firm supporting early-stage startups with incorporation, compliance, and contracts. With a multidisciplinary background spanning engineering, strategic management, and law, he is recognized for his ability to translate complex legal frameworks into actionable strategies for growth and sustainability.