DAVID: ROSEMOND, PLEASE SHARE ABOUT YOURSELF.
ROSEMOND: I’m Rose Phil, a lawyer specializing in commercial and startup law from Delta State, specifically Isoko. With a decade of experience in commercial law, I’ve found my niche in the tech space, assisting startups across various verticals with regulatory compliance and corporate governance. Currently pursuing my master’s at the University of Luxembourg in innovation and entrepreneurship, I’m passionate about contributing to the growth of the African economy through the legal platform.
DAVID: WHAT FUELS YOUR PASSION FOR STARTUP FOUNDERS?
ROSEMOND: My journey began as a founder in 2020, co-founding a legal tech platform. Though my dear friend and co-founder passed away before witnessing its success, the experience ignited a passion for success. Shutting down prompted me to learn extensively about business growth, client acquisition, and navigating regulations. Being a lawyer facilitated understanding of regulatory impacts on different business aspects, shaping my journey into the tech and business realm.
DAVID: WHAT CHALLENGES DO FOUNDERS COMMONLY FACE?
ROSEMOND: Compliance tops the list. Navigating numerous regulations, often unknown, poses challenges. Slow-paced regulators struggle to keep up with the fast-moving tech landscape, resulting in penalties for non-compliance. I advise founders to appoint a compliance officer and seek legal guidance to avoid penalties related to tax obligations, data protection, and other regulatory requirements.
DAVID: WHAT REGULATIONS SHOULD STARTUPS PRIORITIZE?
ROSEMOND: Every company should register with the Corporate Affairs Commission. Intellectual property protection is crucial, and agreements—such as co-founder and shareholders agreements—ensure clarity in partnerships. Prioritize compliance with import/export regulations, foreign exchange rules, and trademarks. At Google, I emphasize these aspects as a mentor, helping startups navigate regulatory requirements based on their industry, location, and growth stage.
DAVID: YOUR ROLE AT GOOGLE ACCELERATORS MENTOR?
ROSEMOND: Appointed as a mentor in September, I contribute to Google’s startup program, coaching and training businesses in corporate governance and compliance. The focus is on assisting startups with regulatory requirements based on their industry, location, and growth stage within the Women Technical Program.
