• October 2018
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Why Do Startups Need Lawyers?

A recent LawTrades user asked: Why do Startups need Lawyers if the problem they solve is so routine? 

Good question.

Startup lawyers are there to advise startups in their critical early formation stages and it’s very difficult to automate individualized solutions to legal concerns.

Here are some examples of problems that typically need legal advisement:

  1. Which business entity to use when forming a company,
  2. Vesting schedules, 83(b) elections, equity splits
  3. Filing a patent properly, and conducting a patent search
  4. Protect your company’s intellectual property from being stolen/misused by independent contractors (often the bulk of a tech startup’s value, especially in the early stages)
  5. Complying with federal employment law, when the company start experiencing major growth
  6. Drafting privacy policies and Terms of use to avoid liability in the future
  7. Negotiating with investors, to make sure your startup’s goals and concerns are met

With that said, there are ways to marry great technology with amazing lawyers and make the experience faster, more cost-effective, and always there when you need it. 

 Have more questions? Feel free to visit LawTrades

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