As you are venturing into uncharted territory building a startup, having the proper legal protection and organization is not at the forefront of every entrepreneur’s mind. But after all of the building and planning and coding, making sure that your IP, partners and company are protected is absolutely paramount to ensure smooth sailing when you hit it big.
As you are seeking out a firm / lawyer to work with to form your corporation and initial IP protection documents, consider the following:
- Does the lawyer specialize in startups?
- Does the lawyer have a strong track record in representing successful entrepreneurs?
- How involved are they in the entrepreneurial community?
- Have they ever started a company themselves or been deeply involved in a startup?
- Are they willing to defer fees until you raise capital?
Additionally, you need to consider how a lawyer is going to treat you. Do they have tons of clients that will get more attention than you?
For my last startup, I worked with Glen Caplan and John Fogg of Robinson Bradshaw in Chapel Hill, NC. They hit the nail on the head with every point I described above. I knew I was in good hands based on the following:
- Prompt responses: when I emailed Glen or John, I get a response back generally within an hour.
- Insightful responses: when I asked a question, I didn’t get back a bunch of legal jargon. Instead I received detailed, insightful responses in language that I could understand.
- Culture fit: these were guys I would invite over to a BBQ… genuinely nice people that are a pleasure to work with.
Ultimately, you need to find a lawyer that is competent, values you as a client, and is someone that you can trust. And remember, it’s much cheaper to get it right the first time as opposed to cleaning up a legal mess later!