It’s time to select my startup lawyer
May 2, 2008 – 1:01 amOk, so I already have the business model well structured and I also done what I like to call a development manual - screenshots of the user interface of the system we want to develop (I’ve done everything with Illustrator) where I try to explain every single detail of the application. I thought we were ready to start developing - I’m not sure if we are going direct with a beta version or if we’re going to do a prototype first - but I just realized that everybody is questioning the legal aspect of my business model. I’m pretty sure it is doable and legal but now I’m questioning myself if I’m going to need licenses and all that expensive stuff that we hear about.
At this point I have no doubt: It’s time to get good legal counseling.
My networking in the U.S. is very limited and a attorney definitely isn’t something that you just google and choose one.
So how to choose one? I would like to know some good entrepreneurs around here and than I would be able to ask them but I don’t. I tried Hack News and got no answers to my message.
Suddenly, I found myself completely lost! Than I decided to just take my chances in Google and try something (yeah, yeah… I was kind of desperate). Searched, searched I found one that looked perfect. Wrote him a nice e-mail and waited for a reply. Got nothing so I decided to call his office and check if he received. Luckily his secretary was brazilian and super nice and decided to help me out. She asked me to send directly to her and she would make sure he would get the e-mail. After a week I called her again and she told me that he was really busy and he wouldn’t be able to take my case but I really felt that if I had a recommendation he would take me.
Anyway, I ended up finding a community of Miami’s Entrepreneurs at Meetup and I sent a message asking for recommendations. I got some and I’m already in contact with a few trying to figure out.
Ok, so now I have some names but how to choose between them?
I didn’t have the change to meet in person with them, only a few e-mails exchanged but I pretend to select my lawyer the same way I select a team player. Even though he won’t be working here in the often I’m pretty sure he will be spending a lot of time with my startup. It’s a lot to do: incorporation, licenses, legal agreements, possible funding rounds, acquisitions, etc. So, it has to be dealt as a MAJOR thing.
So, I want my attorney to be someone who:
- has the ability to deeply understand my business
- has experience with startups- understand business strategy
- I can trust
- has to have connections with investors
- understand my product and it’s legal aspects
- likes me
- I like
- understand my startup financial situation
If I find one that checks all the items of this list I’m sure I will be hiring a great counselor that will be greatly responsible for my startup success.
As soon as I find the right guy here are some things that I need to know:
- Is my business model legally viable?
- How should my startup be incorporated? I heard that if I have plans to raise capital from VCs any time in the future I should go for a Delaware C Corporation. Is it really worthed?
- What kind of licenses will my business model require?
- I need at least a rough estimate of all my legal costs
Well, as soon as I find my guy and get all the answers I will update you guys.
If you have any recommendation or tips please send me.
