

Ask HN: What a are good questions for a first meeting with a startup lawyer - em00guy

I managed to get some time with a few startup lawyers in NYC (Wigins, Reitler, Goodwin Procter). I'm at the very beginning of my project with few real customers, no revenue, no incorporation and no outside capital. What questions would solicit meaningful answers for a startup at this stage?
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gamblor956
1) What are your fees and fee arrangements? (Some firms accept equity or have
special arrangements for accepting payment to accomodate startups.)

2) Who will be working on my issues? (I bring this up because larger firms
usually have associates do the actual grunt work.)

3) Given my situation, and my goals [which you will describe to them], what is
the best structure for my company for (a) legal purposes? and (b) tax
purposes?

4) Same as 3a) and 3b), but _for you._

5) Ask them about IP issues. (You haven't provided enough info to provide a
sample question.)

6) Ask them about employees/labor law issues, especially as it relates to co-
founders, hiring your first employee, and compensation. (You haven't provided
enough info to provide a sample question.)

7) Ask them about compliance/paperwork/etc. associated with maintaining the
structure you will use. (It can very from a little to a lot.)

~~~
em00guy
That's great advice. It wouldn't have occurred to ask about personal finances.

~~~
will_brown
DO NOT exchange equity for legal services. Obviously legal fees can be
expensive, especially in NY and CA. Therefore, if your start-up does not have
sufficient funds allocated for legal fees or the Firm offers to provide the
legal services in exchange for equity consider alternative options.

For example, most law schools will have in-house small business clinics, where
law students, who are generally given special permission by the State Supreme
Court to practice before being admitted to the Bar, provide free legal
services under the supervision of a professor licensed in the State.

