How to Hire the Best Startup Lawyers:
5 Things to Know Before Hiring a Startup Attorney
Written by JD and Startup Expert, Ross Blankenship
Are you searching for the best startup lawyers and attorneys? Well, as you work your way through your business startup checklist, one of the most important entries that you need to pay attention to has to do with your startup company lawyer. You don't just want to hire a good startup attorney - you want to hire a great one. You need to find someone that is not only highly qualified, but that you know you can trust through the long and arduous journey ahead. If you want to hire the best startup lawyers to help make your dreams become a reality, there are five key concepts that you need to learn about.
As you read the following advice on how to find and hire top startup lawyers, be sure to contact us below if you have questions or need help in your search for an attorney who can help you.
#1 Not All Startup Attorneys Understand What You Do
There is a big difference between a startup attorney and a startup attorney who actually understands the business that you're trying to operate in. The sooner you understand that, the quicker you'll be on your way to finding someone who is right for your company. According to Venture Beat, a startup attorney that doesn't understand your industry cannot possibly provide you with the best advice and act with your best interests in mind. At Angel Kings, we only hire startup attorneys who have proven track records helping entrepreneurs succeed.
#2 Startup Lawyer & Attorneys Fees - Hire Wisely
In the early days of any company, to say that you'll be strapped for cash is something of an understatement. You have to learn to cut costs wherever possible in order to survive. As a result, you need to sit down and examine the startup lawyer fees structure very carefully before you continue. When hiring a startup attorney, find one that is very forthcoming with how much they are willing to charge and what they're prepared to do for that amount of money.
Generally speaking, most startup lawyers will charge between $350 and $800 an hour. Some lawyers will charge based on the whole hour, while others will bill in quarter hour increments. Larger firms may charge in six minute increments, but larger firms in bigger cities will also likely cost you $1,000 an hour or more, depending on where you're based out of geographically.
#3 Conflict Resolution and Startup Lawyers
Because one of the reasons you're hiring a startup company lawyer in the first place is to protect you as you move forward, it's natural that one of your main focuses when searching for one is to examine how they deal with conflict resolution. Are they incredibly litigious and quick to go to court at the drop of a hat? Are they willing to listen to you when you say that you want to settle, even if they don't necessarily think that's the best move? According to Entrepreneur.com, this is one of the most important things that you can look at during this time.
#4 What Is Communication Like? Don't Hire Until You Know this...
When hiring the best startup attorneys you'll want to look into how they like to communicate and how the attorney fits in with your own preferences. Do they prefer to talk a lot, or a little? Do they like in-person meetings, or do they do everything over the phone? Do they have someone that responds for them, or do they respond personally? Make sure that you're finding someone who is the right fit for you in this regard for the best relationship moving forward.
#5 Startup Lawyers = Your Trusted Advisors.
Once you've considered other elements of the process of finding a startup attorney, you may still be confused about exactly where you should begin. The answer is simple: start with your existing inner circle. Does anyone that you're already working with know a startup attorney that they trust unequivocally? These are the people you're already trusting for so much, it makes sense that this guidance would extend towards finding the right startup company lawyer, as well.
By always taking your time and making sure that you're focusing on the right areas, you'll be able to find someone who will be there for you through thick and thin, all throughout the lifespan of your enterprise.
As a private equity and venture capital firm, Angel Kings makes calculated, intelligent investments in startups primarily focused on biotechnology. Get started investing in private equity and venture capital today with Angel Kings' private equity funds.
Read about expert on private equity and venture capital, Ross D. Blankenship, today.
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