Finding a lawyer in New York for your startup shouldn’t be overly difficult. There are countless world renowned corporate firms based in NYC. These firms have a long standing reputation for serving large corporate clients, but do they make sense for a startup? I don’t think so. Here are four things you should consider:
- Large law firms are drastically expensive compared to working with a solo practitioner or a boutique firm. Imagine paying 5-10k without any revenue to get your company set up. It doesn’t make any sense.
- Partner rates at a large law firm can be upwards of $800 per hour–if you can’t afford that then you’ll likely be passed off to a junior associate.
- Unless you’re getting sued by Apple, transactional legal work that startups require in the early stages should not cost you an arm and a leg. Incorporating, securing your IP, drafting website agreements etc… should be completed at an affordable price points from smaller law firms.
- While large firms may defer your fees, you should be cautious taking this route as fee deferrals can get VERY costly down the road–especially when the business may or may not turn a profit soon.
If you’re looking for a solid law firm, you should really consider working with a solo practitioner or a boutique firm. Many of the attorneys that work at these firms used to work at larger corporate law firms. Not only will you save a lot of money, but you’ll receive individualized attention from the partners instead of being passed off to a staff member. Trust me, I’ve worked with one of the firms that I listed above and it was a complete disaster.
If you’re interested in finding an affordable and experienced startup attorney to assist with your startup legal needs, then feel free to visit us at. We work with startups of all sizes, from bootstrapped companies to prominent Series A businesses. Feel free to message me if you have any questions or need any help!