Ideally, consolidating the number of legal professionals a startup should deal with is a worthy goal. For starters, receiving advice from a select few lawyers or in one firm is the ideal situation. However, practical circumstances often do not make this possible. For starters, due to geographic location or practical considerations, it may not be possible to have one firm handle all of a startup’s business.
A lawyer that a entrepreneur may have worked with on other matters, may not have experience in handling complicated funding transactions or negotiating deal terms but would be more than comfortable handling simpler transactional problems such as employment contracts or incorporation.
On the other hand, a startup focused firm, may not be the best choice to handle basic transactional matters since it may not be the best use of resources or (too costly) to have them handling these matters.
Based on these considerations, the short answer to this question is, if it is possible and economically feasible consolidate services into one firm to ensure a uniform legal strategy, the long answer is that it is often not possible and therefore a startup may be required to portion out legal services to firms that are available to handle them. In the latter scenario, it is important to make sure all lawyers working for the startup are on the same page and agree on a strategy.
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