Question about when startups should talk to a lawyer?
I am working with a startup and was wondering if I could draw upon the HN wisdom. At what stage do you recommend getting a lawyer and setting up your business entity?
2 comments
As an ex-deal lawyer and the founder of www.avvo.com (where lawyers will answer your legal questions for free btw), I urge you to have a seasoned venture lawyer at your side from the outset. Most firms will forego fees until your first round of financing, so there is really no downside. The real downside is trying to play lawyer and failing to adequately protect yourself and your company.
Mark Britton Founder + CEO, Avvo
Mark Britton Founder + CEO, Avvo
While everyone does it at different times, it only helps to get it done early. Cooley, Wilson Sonsini and a number of the other big firms offer services for free, pre-funding. Or just use the free&standardized docs that you find online.
Also figure out the equity split among your team early, even before legal docs. Always a shame to see a team fall apart because of poor communication
Also figure out the equity split among your team early, even before legal docs. Always a shame to see a team fall apart because of poor communication