What is a startup lawyer?

Startup lawyers are professionals who support startups with setting up and funding their business. Expert startup lawyers ensure that your new business operates on strong foundations as it continues to grow. These lawyers are highly experienced at identifying what mechanisms and processes startups must have in place, and implement them accordingly. They aim to help startups raise capital quickly and use their legal expertise to promote compliance. Depending on the industry your startup operates in, there may be numerous laws that must be followed. Startup lawyers will explain to you the law in a way that is easy to understand, as well as take proactive steps to avoid problems that may arise in future.

The work of a startup lawyer will involve raising capital and external funding, registering trademarks patents, and drafting NDAs, joint venture agreements, share sale agreements, ISP agreements and platform terms of use. These lawyers will regularly assist you with legal documentation as you continue to expand.

What can a startup lawyer do for me?

Startup lawyers are trained to assist you in every aspect of your business – this involves commercial and corporate law, employment law, tax law and intellectual property law. These lawyers will get to know your business, as well as your goals. They will ensure you make strategic business decisions from the beginning. You can trust startup lawyers to devise appropriate strategies to tackle anti-competitive behaviour and negotiate on your behalf. These lawyers have extensive knowledge about issues that affect businesses in the startup space, and will take proactive steps to prevent them from occurring both in present time and the future.

5 tips when hiring a startup lawyer

Engaging with a startup lawyer can be overwhelming as there are many lawyers to choose from. It is recommended you consider these tips before making a decision:

1. Find a qualified lawyer that suits your needs. Experience and qualifications are extremely important because there are numerous issues that must be considered when starting a business.
2. Check to see if they are accountable and transparent. Look at reviews and recommendations.
3. Also, find a lawyer who is compatible with your budget. Ask if there are fixed fees, packages or flexible payment options that can be tailored to your needs.
4. Consider more than one lawyer before making a decision. It is important you find someone who has the skills and is willing to work hard on your behalf.
5. Read the retainer your lawyer provides. It will inform you of the obligations held by both you and your lawyer, as well as costs that are involved.