{"id":6738,"date":"2026-06-10T17:22:09","date_gmt":"2026-06-10T20:22:09","guid":{"rendered":"https:\/\/abvcap.com.br\/marco-legal-das-startups-o-que-e-quem-se-enquadra-e-o-que-muda-na-pratica\/"},"modified":"2026-06-10T17:22:16","modified_gmt":"2026-06-10T20:22:16","slug":"marco-legal-das-startups-o-que-e-quem-se-enquadra-e-o-que-muda-na-pratica","status":"publish","type":"post","link":"https:\/\/abvcap.com.br\/en\/marco-legal-das-startups-o-que-e-quem-se-enquadra-e-o-que-muda-na-pratica\/","title":{"rendered":"Legal framework for startups: what it is, who qualifies, and what changes in practice."},"content":{"rendered":"<p class=\"wp-block-paragraph\">THE <strong>legal framework for startups<\/strong> is the name given to <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm\">Complementary Law No. 182\/2021<\/a>, This law, created to establish clearer rules for startups, investors, and the government in Brazil, aims to reduce legal uncertainty, stimulate innovative entrepreneurship, and facilitate both fundraising and the contracting of innovative solutions by the government.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Published in <a href=\"https:\/\/www.in.gov.br\/en\/web\/dou\/-\/lei-complementar-n-182-de-1-de-junho-de-2021-323558527\">Official Gazette of the Union, June 2, 2021<\/a>, with <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art19\">entry into force 90 days later<\/a>, the standard was the result of <a href=\"https:\/\/www.gov.br\/mcti\/pt-br\/acompanhe-o-mcti\/noticias\/2022\/10\/novo-marco-legal-das-startups-e-o-desenvolvimento-da-inovacao-no-brasil\">4 years of work by the MCTI and the participation of more than 70 public and private actors.<\/a>. In this article, you will understand what the law has actually changed, who can be considered a startup, how investments are affected, the regulatory sandbox, the CPSI, and the remaining limitations.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key points<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>THE <strong>legal framework for startups<\/strong> it is based on <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm\">LC 182\/2021<\/a> and formalized the concept of startup in Brazilian legislation.<\/li>\n\n\n\n<li>To qualify, the company must have annual gross revenue of up to <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art4\">R$ 16 million<\/a>, until <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art4\">10 years of CNPJ (Brazilian company registration number)<\/a> and to act with innovation.<\/li>\n\n\n\n<li>Non-equity investors, such as angel investors, <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art8\">not liable for the company&#039;s debts, except in cases of fraud, deceit, or misrepresentation.<\/a>.<\/li>\n\n\n\n<li>The law created a legal basis for the <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art11\">regulatory sandbox<\/a> and for public procurement of innovation, including the CPSI.<\/li>\n\n\n\n<li>Despite the progress, the legal framework for startups has not fully resolved issues such as taxation, labor relations, and stock options.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What is the Legal Framework for Startups?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Concept and objective of Complementary Law No. 182\/2021<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">THE <strong>legal framework for startups<\/strong> It is a set of rules created to improve the business environment for innovative companies in Brazil. Its basis is... <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm\">Complementary Law 182\/2021<\/a>, which provided a legal definition of startup, rules for investment, public procurement of innovation, and experimental regulatory mechanisms.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The central objective of the law is to foster innovative entrepreneurship. This includes providing greater legal predictability for entrepreneurs, investors, and also for public bodies that wish to contract technology and test new solutions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Why was the legal framework created?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Before the law, the ecosystem was plagued by uncertainty. There were doubts about the legal framework, investor responsibility, contracting by the public sector, and the application of typical venture capital instruments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this context, the legal framework for startups emerged as a response to bureaucracy, regulatory rigidity, and the difficulty of adapting traditional norms to innovative, rapidly growing businesses.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What ecosystem problems does the law seek to solve?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Among the main problems addressed by the law are:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Lack of legal certainty for investment in startups.<\/li>\n\n\n\n<li>difficulty of testing innovative models in regulated sectors<\/li>\n\n\n\n<li>Barriers for startups to sell to the government<\/li>\n\n\n\n<li>excessive formalism in corporate structures<\/li>\n\n\n\n<li>absence of a clear legal definition of startup<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">It&#039;s important to note that the law doesn&#039;t solve everything. It organizes essential points, but leaves relevant issues still open.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Who can be classified as a startup under the law?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Legal definition of a startup<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">By law, a startup is not simply any new company. The legal concept requires that the business or corporate organization have innovative operations and meet objective criteria regarding size and length of existence.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This helps to separate newly created traditional businesses from companies with an innovative, scalable business model or one focused on developing new products, services, or processes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Eligibility criteria<\/strong><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Billing limit<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The startup must have gross revenue of up to <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art4\">R$ 16,000,000.00 per year<\/a>. If the company has been in operation for less than 12 months, the limit is proportional, of <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art4\">R$ 1,333,334.00 per month of activity<\/a>.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>CNPJ time limit<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Another requirement is to have up to <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art4\">10 years of registration with the CNPJ (Brazilian National Registry of Legal Entities)<\/a>. After that, the company no longer legally qualifies as a startup for the purposes of LC 182\/2021.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Requirement for innovation or inclusion in the Inova Simples program.<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">In addition to revenue and CNPJ (Brazilian tax ID) age, the company must declare in its articles of incorporation the use of innovative business models for generating products or services, or be classified under... <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/Lcp123.htm#art65a\">Innovate Simple<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The notion of innovation is linked to... <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/_Ato2004-2006\/2004\/Lei\/L10.973.htm#art2iv\">Innovation Law<\/a>, which deals with the introduction of novelty or improvement in the productive or social environment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Types of companies that may qualify<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In practice, different types of companies can be classified as such, as long as they meet the legal requirements. This includes limited liability companies (LTDA) and corporations (SA), for example.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Practical example:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Situation<\/strong><\/td><td><strong>Does it qualify as a startup?<\/strong><\/td><td><strong>Reason<\/strong><\/td><\/tr><tr><td>Software company with 4 years of CNPJ (Brazilian company registration number), revenue of R$ 5 million and an innovative product.<\/td><td>Yes<\/td><td>It meets deadlines, revenue, and innovation.<\/td><\/tr><tr><td>Traditional brick-and-mortar store with a 2-year CNPJ (Brazilian business registration number) and revenue of R$ 1 million, without relevant innovation.<\/td><td>No<\/td><td>It&#039;s not enough to be new, you need to be innovative.<\/td><\/tr><tr><td>Healthtech company with 9 years of CNPJ (Brazilian tax ID), revenue of R$ (Rate of 14 million) and operating under Inova Simples (a Brazilian tax incentive program).<\/td><td>Yes<\/td><td>Meets the criteria.<\/td><\/tr><tr><td>Company with 12 years of CNPJ (Brazilian tax ID) and revenue of R$ 8 million.<\/td><td>No<\/td><td>Exceeds the time limit.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Cases of merger, spin-off and acquisition<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In corporate transactions such as mergers, spin-offs, or acquisitions, the analysis of the applicable legal framework may require attention to the history of the companies involved. The purpose of the law is to prevent artificial reorganizations that could allow for the misuse of the regime.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Therefore, founders and investors should evaluate these cases with legal support, especially in funding rounds or restructurings.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Principles and guidelines of the Legal Framework for Startups<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Legal certainty and freedom of contract<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">One of the pillars of the legal framework for startups is to increase legal certainty. This is evident both in the protection of non-equity investors and in the recognition of instruments already used by the market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Contractual freedom is also highlighted. The law recognizes that innovative businesses need more flexible structures for investment, governance, and development.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Innovation as a driver of economic, social, and environmental development.<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The standard treats innovation as an engine of development. It speaks not only of economic growth, but also of social and environmental impact.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This point reinforces that the innovation ecosystem is not only of interest to startups and funds, but to the country as a competitive strategy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Cooperation between the public and private sectors<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The law also brings innovative companies closer to the public sector. This is reflected both in the regulatory sandbox and in the mechanisms for public procurement of innovative solutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The logic is simple: the State ceases to be merely a regulator and also begins to act as a demander and tester of innovation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Internationalization and attracting investment<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Another important principle is to make the Brazilian environment more attractive to venture capital. The greater the legal predictability, the greater the chance of attracting local and foreign investors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is especially relevant for venture capital, corporate venture capital, and investments in technology-based businesses.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What changes for investors and for fundraising?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is an angel investor according to the law?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">An angel investor is someone who invests capital in a company without necessarily becoming a partner immediately. The goal is usually to support the growth of the business in exchange for future compensation or the possibility of conversion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Within the context of the legal framework for startups, this investor has gained clearer legal protection.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Investor responsibility: when they respond and when they don&#039;t.<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The law establishes that the investor who does not form part of the share capital. <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art8\">is not liable for any debt of the company, including during judicial reorganization, except in cases of fraud, deceit, or misrepresentation.<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This point was crucial in reducing the fear of early-stage investments. Previously, there was more uncertainty about potential financial liability.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Investment instruments foreseen<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The legal framework for startups didn&#039;t invent all the instruments, but it recognized mechanisms already used in the market and helped to clarify their use.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Convertible loan<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">In a convertible loan, the investor lends funds to the startup and, under certain conditions, this amount can be converted into equity in the future.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Simple example: an investor contributes R$ 500 thousand today and, in the next round, converts that amount into shares at a discount based on the company&#039;s valuation.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Convertible debenture<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Convertible debentures are more common in corporate structures compatible with the issuance of this type of security. They allow for fundraising with the possibility of conversion into equity participation.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Option to subscribe to or purchase shares\/quotas<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">This instrument gives the investor the right to acquire a stake in the future, according to conditions previously defined in the contract.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Angel investment contract<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">It is the typical instrument for formalizing the angel investor&#039;s contribution, regulating remuneration, term, exit options, and other conditions.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Joint venture company<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">A joint venture company can also be used in investment structures, especially in specific contexts of capital allocation and profit sharing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>When does an investor become a partner?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">An investor does not automatically become a partner upon contributing capital. This depends on the legal structure adopted and, in many cases, on the occurrence of a conversion event.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is a point that creates confusion in the market. Non-equity investment and equity participation are not the same thing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Relevant rules regarding redemption and compensation for angel investors.<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Under the angel investment discipline of LC 123, the maximum remuneration period is... <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/Lcp123.htm#art61a%C2%A74iii.0\">7 years<\/a>, and the redemption of the investment can only occur, as a rule, after <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/Lcp123.htm#art61a%C2%A77.0\">2 years<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These boundaries are important for contract negotiation and for aligning expectations between the founder and the investor.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Regulatory sandbox: how the experimental regulatory environment works<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is a regulatory sandbox?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">THE <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art11\">regulatory sandbox<\/a> It is an experimental regulatory environment where companies can test innovative business models with more flexible rules and regulatory oversight.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In practice, it allows experimentation without requiring, from day one, the same level of regulatory compliance as traditional, already established operations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is it used for in practice?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The sandbox is especially useful in highly regulated sectors such as finance, insurance, healthcare, mobility, and energy. It lowers the barrier to entry for new solutions and helps regulators better understand the real risks of innovation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Instead of banning or allowing everything, the regulator creates a controlled space for testing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How can regulatory bodies structure sandbox programs?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The law allows public administration bodies and entities with regulatory authority to create their own programs. Each regulator defines the criteria, limits, duration, supervision, and conditions for participation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This means that practical application depends on specific sector regulations and calls for proposals.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Benefits and limitations of the model<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Main benefits:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>initial regulatory cost reduction<\/li>\n\n\n\n<li>stimulating innovation<\/li>\n\n\n\n<li>regulatory learning<\/li>\n\n\n\n<li>closer relationship between regulator and market<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Main limitations:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>restricted participation<\/li>\n\n\n\n<li>determined duration<\/li>\n\n\n\n<li>need for supervision<\/li>\n\n\n\n<li>possibility of specific requirements by sector<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Contracting for innovative solutions by the public sector.<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How the law brings startups closer to the public sector.<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">One of the most relevant aspects of the legal framework for startups is allowing the public sector to contract innovation with a logic more aligned with technological reality.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Instead of requiring a ready-made and fully specified solution from the outset, the law allows for problem-oriented contracting.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Special tender for innovation<\/strong><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>A call for proposals focused on the problem, not the solution.<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The government can issue a public notice describing the public need and the challenge to be solved. This opens up space for startups to propose different approaches, including technologies still under validation.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Judging criteria<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The criteria may consider solution potential, stage of development, feasibility, cost-benefit ratio, and technological risk. This is important because innovation cannot always be judged solely by the lowest price.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Deadlines and composition of the committee<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The minimum deadline for the public notice is <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art13\">30 consecutive days<\/a>, and the special evaluation committee must have at least <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art13\">3 people<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is a Public Contract for Innovative Solutions (CPSI)?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">THE <strong>Public Contract for an Innovative Solution<\/strong>, or <strong>CPSI<\/strong>, It is the instrument created to allow the public sector to contract the testing, development, and validation of innovative solutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is one of the most practical mechanisms in the legal framework for startups regarding public procurement of innovation.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Validity period<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The CPSI is valid for <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art14\">12 months, renewable for another 12 months.<\/a>.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Maximum value<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The maximum contract value is <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art14\">R$ 1,600,000.00<\/a>.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Forms of remuneration<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Compensation may be structured in ways that are consistent with the experimental development process, including phased implementation, goal-based compensation, and intermediate deliverables.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Technological risk and payment in stages<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">A significant advancement is the recognition of technological risk. In innovation, a project may not achieve the expected result, and the law acknowledges this reality without treating the process as a simple breach of contract.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Practical example: a govtech company proposes an automated triage tool for public health care. The agency contracts a test via CPSI, validates its performance in a controlled environment, and, if the solution works, can proceed to a later contract.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Supply contract without new bidding process.<\/strong><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Term<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">After the solution is validated, a supply contract may be established for up to <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art15\">24 months, renewable for another 24 months.<\/a>.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Financial limit<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The limit can reach up to <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art15\">5 times the maximum CPSI value<\/a>.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Criteria for choosing between approved solutions<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">When more than one validated solution exists, the administration must provide a technical justification for its choice, observing the criteria of the procedure.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Inova Simples and other related standards.<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What has changed in Inova Simples?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The Inova Simples program already existed, but the legal framework for startups reinforced its integration into the innovation ecosystem. It functions as a simplified regime for incremental or disruptive business initiatives.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In practice, it helps reduce bureaucracy in the formalization of innovative early-stage businesses.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Priority for patents and trademarks<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The logic of the regime also relates to the protection of intellectual property. Priority in processing applications can be a relevant factor for startups that depend on technological differentiation and intangible assets.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Relationship with the Innovation Law, the Economic Freedom Law, and the Corporations Law.<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The legal framework for startups does not operate in isolation. It connects with the <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/_Ato2004-2006\/2004\/Lei\/L10.973.htm#art2iv\">Innovation Law<\/a>, with the Economic Freedom Law and the Corporations Law.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This collaborative approach is essential for understanding the legal environment for startups in Brazil, especially in terms of governance, fundraising, and technological development.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Changes to other laws brought about by the Legal Framework<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Changes to the Corporations Law.<\/strong><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Private companies with simplified treatment<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The law brought simplifications for privately held companies with annual gross revenue of up to <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/L6404consol.htm#art294.1\">R$ 78,000,000.00<\/a>, which benefits startups structured as publicly traded companies.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Smaller companies<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The category of smallest company, with annual gross revenue of less than [amount], was also created. <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/L6404consol.htm#art294b\">R$ 500,000,000.00<\/a>, subject to simpler regulatory treatment in some respects.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Electronic corporate publications and books<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Among the practical advances, the digitization of corporate books and the reduction of publication formalities stand out, which lowers costs and bureaucracy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Adjustments to LC 123\/2006<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The legal framework for startups also interacts with LC 123, especially on issues related to angel investment and Inova Simples.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What was vetoed in the Startup Legal Framework?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Tax incentives vetoed<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">One of the most criticized aspects was the veto of tax incentives that could have made investing in startups more attractive. This reduced some of the impact expected by the market.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Compensation for losses by investors<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">More robust loss compensation mechanisms, which are relevant for high-risk investments, were also left out.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Stock options<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Stock options were not fully resolved by the legal framework for startups. This is one of the most important issues for attracting and retaining talent, but it remains surrounded by tax and labor law uncertainties.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Capital market points that were left out<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">There were expectations of greater progress in capital markets and instruments to promote investment. The final version was relevant, but less ambitious than part of the ecosystem had hoped.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Limitations of the Legal Framework for Startups<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What the law resolved<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The law brought concrete advances in:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>legal definition of a startup<\/li>\n\n\n\n<li>protection for non-corporate investors<\/li>\n\n\n\n<li>regulatory sandbox<\/li>\n\n\n\n<li>Public procurement of innovation<\/li>\n\n\n\n<li>corporate simplifications<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is still pending?<\/strong><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Taxation<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The legal framework for startups did not create a specific tax reform for the sector. The tax burden and complexity remain significant challenges.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Labor relations<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Issues related to hiring flexibility and the legal treatment of variable compensation models still require caution.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Stock options<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">As mentioned earlier, stock options still lack a complete legislative solution, which maintains uncertainty for companies and employees.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Criticisms and practical challenges of implementation.<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The main criticism is that the law was an important step forward, but not a complete solution. Furthermore, many of its effects depend on sector-specific regulation, the institutional capacity of public authorities, and the maturation of the market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In other words, the legal framework for startups has improved the terrain, but it hasn&#039;t eliminated all obstacles.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Practical impacts for startups, investors, and the public sector.<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>For founders<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">For founders, the law introduced legal language that more closely reflects the reality of the ecosystem. This helps in negotiations with investors, in corporate structuring, and in accessing opportunities with the public sector.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>For investors<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">For investors, the most obvious benefit is the reduction of asset insecurity in non-equity investments. This favors investment in startups in Brazil, especially in the early stages.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>For large companies and open innovation.<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Large companies also benefit indirectly. With greater legal certainty and improved integration with the ecosystem, there is increasing space for open innovation, partnerships, and corporate venture capital.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>For public bodies<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">For the public sector, the law offers more suitable instruments for contracting genuine innovation, rather than trying to fit emerging solutions into traditional procurement models.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Frequently asked questions about the Legal Framework for Startups<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is the legal framework for startups?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The legal framework for startups is... <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm\">Complementary Law 182\/2021<\/a>, This law, created to establish rules focused on innovative entrepreneurship in Brazil, addresses the legal definition of a startup, investments, regulatory sandbox, and public procurement of innovation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is the revenue limit under the legal framework for startups?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">For eligibility purposes, the company must have annual gross revenue of up to <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art4\">R$ 16 million<\/a>. If you have been in business for less than 12 months, the proportional monthly limit stipulated by law applies.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How many years of CNPJ (Brazilian tax ID) can a startup have according to the law?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The company may have up to <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art4\">10 years of registration with the CNPJ (Brazilian National Registry of Legal Entities)<\/a>. Beyond that timeframe, it ceases to qualify as a startup for the purposes of the legal framework.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Is every new company a startup according to the legal framework for startups?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">No. In addition to being relatively young and having revenue within the limit, the company needs to operate with innovation or be classified under the Inova Simples program.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Is the angel investor liable for the startup&#039;s debts?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Generally, no. Under the legal framework for startups, the non-equity investor <a href=\"https:\/\/www.planalto.gov.br\/ccivil_03\/leis\/lcp\/lcp182.htm#art8\">not liable for the company&#039;s debts, except in cases of fraud, deceit, or misrepresentation.<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is a regulatory sandbox in the legal framework for startups?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">It is an experimental regulatory environment where companies can test innovative models under supervision and with controlled regulatory flexibility. It serves to facilitate innovation in regulated sectors.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is CPSI in the legal framework for startups?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">CPSI stands for Public Contract for Innovative Solutions. It allows the public sector to contract the development, testing, and validation of innovative solutions under specific conditions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Can a startup participate in bidding processes and sell to the government?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Yes. The legal framework for startups created a special procedure for public procurement of innovation, which expands startups&#039; access to the public sector.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What has changed in Inova Simples with the legal framework for startups?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The milestone reinforced the integration of Inova Simples into the legal environment for innovation, strengthening simplification for early-stage innovative businesses.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Has the legal framework for startups resolved the issues of taxation and stock options?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Not entirely. These issues continue to be pointed out as significant gaps in the law, despite advances in legal certainty and deregulation.<\/p>","protected":false},"excerpt":{"rendered":"<p>O marco legal das startups \u00e9 o nome dado \u00e0 Lei Complementar n\u00ba 182\/2021, criada para estabelecer regras mais claras para startups, investidores e poder p\u00fablico no Brasil. Na pr\u00e1tica, a lei busca reduzir inseguran\u00e7a jur\u00eddica, estimular o empreendedorismo inovador e facilitar tanto a capta\u00e7\u00e3o de recursos quanto a contrata\u00e7\u00e3o de solu\u00e7\u00f5es inovadoras pelo Estado. [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"Marco legal das startups: o que \u00e9, quem se enquadra e o que muda na pr\u00e1tica","_seopress_titles_desc":"Entenda o marco legal das startups, a LC 182\/2021: quem se enquadra, regras de investimento, sandbox regulat\u00f3rio, CPSI e o que muda na pr\u00e1tica.","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"none","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","footnotes":""},"categories":[1],"tags":[],"area-de-membros":[],"destaque":[],"class_list":["post-6738","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/posts\/6738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/comments?post=6738"}],"version-history":[{"count":1,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/posts\/6738\/revisions"}],"predecessor-version":[{"id":6739,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/posts\/6738\/revisions\/6739"}],"wp:attachment":[{"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/media?parent=6738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/categories?post=6738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/tags?post=6738"},{"taxonomy":"area-de-membros","embeddable":true,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/area-de-membros?post=6738"},{"taxonomy":"destaque","embeddable":true,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/destaque?post=6738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}