In summary, maintaining corporate records is not just a legal obligation but also a best practice that supports various aspects of business management, including to be well-prepared for a potential investment or acquisition. Besides these overarching reasons, maintaining corporate records also aids in financial management, supports tax reporting, enhances investor relations, provides legal protection, improves operational efficiency, serves as a historical reference, and (depending also on the framework in which the startup operates) meets regulatory reporting requirements. For a German startup aiming for long-term success, diligent record-keeping is indispensable. For example, when the startup needs capital or is looking to exit, potential investors and buyers will want to see everything and know everything about the company, its financial situation as well as its business operations since inception. By maintaining accurate corporate records, the startup can show a clear picture of the company’s actions and ownership.