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The way I see it, I have two options: use a law firm that will charge me Does anyone have experience/input around this?
Many thanks in advance!
With regards to getting an MSA drafted: many consultants just use one from NoLo or similar. Your larger clients who most care about the details will simply refuse to use yours and counterpropose using their standard paper. You will say that you'll accept their standard paper pending legal review and pay a lawyer a few hundred bucks per incident. Your lawyer will, ideally, prevent you from agreeing to any term that "gives away the store", like e.g. an IP assignment or non-compete which would prevent you from ever doing anything in a related field again.
LegalZoom is perfectly adequate for incorporating, particularly if you're doing it solo and don't need to worry about e.g. equity or vesting between multiple partners. With regards to getting an MSA drafted: many consultants just use one from NoLo or similar. Your larger clients who most care about the details will simply refuse to use yours and counterpropose using their standard paper. You will say that you'll acce…
LegalZoom is perfectly adequate for incorporating, particularly if you're doing it solo and don't need to worry about e.g. equity or vesting between multiple partners. With regards to getting an MSA drafted: many consultants just use one from NoLo or similar. Your larger clients who most care about the details will simply refuse to use yours and counterpropose using their standard paper. You will say that you'll acce…
Thanks for the input. FWIW, we are looking to form a multimember LLC. I've read over several operating agreements and we're both on the same page as far as that goes, not sure if that might alter your feedback.
Do talk to a lawyer before incorporating with multiple cofounders, because you need vesting. Do not mess that up. It is a big deal.
Don't waste too much money on company formation, though. Try to keep the transaction with the lawyer focused solely on vesting. There are lots of other things you can do suboptimally during company formation, but they aren't going to matter so much that you should spend extra money today to deal with them.
Do talk to a lawyer before signing your first employment agreement, but don't do it until you actually need to do that.
Earlier quoted context omitted.
Thanks for the input. FWIW, we are looking to form a multimember LLC. I've read over several operating agreements and we're both on the same page as far as that goes, not sure if that might alter your feedback.
Do talk to a lawyer before forming a multi-member LLC. If there's any chance that any subset of the members of that LLC will go on to develop something bigger, you need to work out vesting and control.
Don't waste time getting a master services agreement reviewed by a lawyer, because big clients are never going to let you use your own master anyways. Do talk to a lawyer before incorporating with multiple cofounders, because you need vesting. Do not mess that up. It is a big deal. Don't waste too much money on company formation, though. Try to keep the transaction with the lawyer focused solely on vesting. There are…
"Don't waste too much money on company formation, though. Try to keep the transaction with the lawyer focused solely on vesting. There are lots of other things you can do suboptimally during company formation, but they aren't going to matter so much that you should spend extra money today to deal with them."
Could you expand a bit on this? When you say "Try to keep the transaction with the lawyer focused solely on vesting" do you mean basically making sure that all stipulations around vesting are ironclad and super straightforward?
Don't waste time getting a master services agreement reviewed by a lawyer, because big clients are never going to let you use your own master anyways. Do talk to a lawyer before incorporating with multiple cofounders, because you need vesting. Do not mess that up. It is a big deal. Don't waste too much money on company formation, though. Try to keep the transaction with the lawyer focused solely on vesting. There are…
Again, thanks for the insights. "Don't waste too much money on company formation, though. Try to keep the transaction with the lawyer focused solely on vesting. There are lots of other things you can do suboptimally during company formation, but they aren't going to matter so much that you should spend extra money today to deal with them." Could you expand a bit on this? When you say "Try to keep the transaction with…