What follows the foundation of a company? Obligations and practical instructions. By Elena Alk. Spyropoulou, Lawyer Founding a company is a complex and time consuming affair. Even when it’s founded, legal obligations of partners do not stop; on the contrary they just begin. Depending on the nature and the activity of a company its legal needs differentiate, but the first actions are common to all and are: 1. Keeping Books and Records. Firstly you must keep the right books (invoices, calendar, suppliers’ lists, etc) both for tax reasons and to make your everyday life easier.