Every founder has heard of or even experienced a legal horror story: overpriced services; unanticipated fees; frustrating delays or an attorney that just doesn’t get it. But like it or not, lawyers are an indispensable part of almost every startup process, and it pays to understand what your lawyer is thinking, how they earn their fees, and what they should be doing on your behalf.
Get it Right at the Start: Lawyers are typically a startup’s first outside adviser, arriving on the scene even before angel or venture capital investors. Most importantly, a good lawyer provides a founding team with the lay of the land: what types of investors may be interested in your idea; how will those investors make go/no-go funding decisions; where can affordable office space be found; how can employees, advisory board members and company directors be effectively identified, recruited and compensated – just to name a few. Better lawyers know more.
To read the original article: What’s a Lawyer Good For? A Legal Guide for Startups : Under30CEO
