• February 2020
    M T W T F S S
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For a fresh new startup, is an expensive startup lawyer worth the price? What value do they add compared to someone who charges 50% less per hour?

This is such a common inquiry when it comes to startups. The reality is, a lawyer is defined by their experience and track record, and not their price structure. That being said, it is obvious that usually the better attorneys will charge a higher price. So this leaves a client with the difficult task of finding a lawyer who can offer the best services at the lowest prices.

You should check out our site LawTrades. We cut out the overhead that has plagued traditional law firms for centuries and instead rely on technology to make things affordable for small businesses and startups. You can also connect with our attorneys 24/7 and eliminates the arduous task of individually seeking out and contacting each lawyer you are interested in. Using our site, you will see that the highest priced lawyers do not always offer the best services for your unique legal needs.

Clients should not just readily assume that the most expensive lawyer will be the best. First, you need to figure out what your legal needs will be. If you are just looking for a lawyer to draft documents and provide simple legal advice, the most notorious/well-known lawyer may not be necessary. However, if you are planning on using your lawyer to help secure investors/capital (which you should), it could be beneficial to have a more experienced lawyer who is familiar with the process and has a reputation in the industry.

Also worth noting, you want to find a lawyer that you have professional chemistry with. Many times, large firm lawyers will have a large case load and may not be as dedicated to your company as a smaller-firm (more affordable) lawyer. So you may also want to consider how much you will be relying on your lawyer and what your expectations are. You want a lawyer who is committed to your company and is willing to go the extra step for you.

Another factor you should consider is what legal price can your company sustain. Many startups (particularly in the early stages) are working with limited capital, and excessive legal fees that are not entirely necessary create financial difficulties that could be avoided. So you should be aware of what your company can pay for legal costs, and tailor your search towards the right price range.

I hope this answer is helpful! Good luck with your company and finding a lawyer! If there is anything else I can do to help out, please don’t hesitate to reach out.