Unfortunately, that may be a loaded a question. All joking aside, many times it is extremely difficult to find good attorneys in your area for your legal needs, and compare their prices and services in an easy/accessible way. On top of this, it is even harder to get an idea of what exactly makes a “good” startup lawyer as opposed to a bad one.
That is why we started. All of our attorneys are pre-screened and have an average of 10+ years experience. You can connect with our lawyers 24/7 and conduct a large portion of your legal representation right on our platform. This way, you can maximize the time you put into your startup, and limit the unnecessary hassles involved in the lawyer-client relationship.
When looking for the right lawyer for your startup’s services, you should be mindful of a few important considerations. Here are a few factors to think about:
1. Price: Obviously in the early stages of your company, you are going to be worried about limiting overhead and expenses associated with every day operations. Hiring a lawyer will be an added expense no matter which way you cut it. So you want to be positive that the money you are spending is not way above the market value of related services, and that every dollar spent ultimately saves your company time and money in the long-run.
2. Experience: So important to startups, it is always good practice to look for a lawyer who has had past successes helping similar startups to your own company. There is always an element of the unknown when hiring a lawyer about whether they will be able to deliver on their promises and give you the best possible legal/business advice moving forward. If a lawyer is familiar with helping clients like yourself, it limits the likelihood that the attorney you hire will have difficulty realizing your legal objectives.
3. Professional Compatibility: Often over looked by startups, developing a strong lawyer client relationship founded on trust and coordination can be the key to your company’s success. As a founder of two separate web-based startups. I can assure you that your lawyer will be working closely and directly with you as your startup progresses. This means a lot of time together, and you don’t want to be spending long hours with a person you can’t stand.
Aside from these considerations, it is important to understand what your legal needs will actually be. A “startup lawyer” should not only be comfortable with the required legal formation processes in your state, but should also have a wide range of other business-oriented knowledge and practice skills. Drafting contracts (either with investors or between founders/employees), securing investors/capital, ensuring Federal compliance with applicable regulations, are just a few areas that a good startup lawyer will be able to help you with. If your attorney is business-minded and has a knack for guiding your company towards success, all areas of their representation will be in the best-interests of your company.
One last note that I think is important is that the best lawyer for your company may not necessarily be the most expensive. There are so many highly-qualified and fully-capable lawyers in the Denver area that are affordable for startups. Many clients will mistakenly hire big-firm attorneys thinking high legal costs = the best lawyer. In reality, this can sometimes hurt startups, because such lawyers have a large case load (meaning less time spent on your startup) and cost an exorbitant amount. So my best advice it to be diligent in your research and not to jump at the biggest names on the list.
I hope this answer is helpful. I am more than happy to help out fellow startups, so please don’t hesitate to reach out if you have anymore questions. Best of luck and much success!