By Charles Mkoka
The Startup Week 2025 event continues to offer valuable insights to attendees, with presentations designed to guide aspiring founders and visionaries on the critical considerations when establishing new companies.
During his detailed presentation, Advocate Tumwesige Evans Lushakuzi, a senior legal practitioner, emphasised the importance of adhering to proper legal frameworks to ensure a well-structured and efficiently run firm.
“There are many situations where founders develop a product before the company is formally registered. This often creates confusion over whether the product belongs to the shareholders or the company itself,” he noted.
He stressed that essential clauses, including non-compete, confidentiality, and related provisions, must be clearly outlined in founders’ agreements.
He further urged new company owners and shareholders to understand their responsibilities regarding powers and decision-making as defined in founders’ agreements, shareholders’ agreements, and other governing documents.
The session proved beneficial to participants, including Mlelie Francis Juma, owner of a newly established electrical company.
Juma added that the presentation broadened his understanding of how to navigate shareholder relations and legal requirements.
“The session opened my eyes to what to consider, who to involve, and how to handle agreements as I develop my company,” he said.
The masterclass was part of a monthly subscription-based webinar series organised by the Tanzania Startup Association, aimed at equipping startups with essential knowledge for sustainable growth.