
The second most frequently asked question among the many I received after the publication of the article about the launch of
Truemors (see the Habrahabr transfers
here or
here ) was the question of why I paid lawyers $ 4,824 and 13 cents. Why second? - the first in frequency is the question "How can you be so stupid as to think that real business will come of it?"
The legal services I paid for included:
- Trademark registration Truemors.
- Writing the rules of site use (Terms of Use).
- Discussion of issues related to copyright, liability, possible violations of the law, intellectual property and insurance.
- Consultations on organizational decisions and bylaws.
- Preparing share purchase agreements.
You can pay less attention to legal issues and thus spend less, but if you intend to attract venture capital, not to mention going to the exchange or being acquired for a normal price, then save a few thousand bucks better on something else. If you are discussing investments or liquidity issues, then you need someone who works for Brobeck, Baker & McKenzie or Wilson, Sonsini, Goodrich & Rosati (the largest law firms dealing with corporate law).
Your uncle in divorce at Penny, Wise, & Pound Foolish (penny-wise and pound-foolish talk about a person who saves on trifles, at the same time risking losing much more), or in the original myinstantincorporation4less.com - note of translation.) are not suitable here.
High-level lawyers are needed not only because of their experience, but also to let the opposing lawyers know that you will not be caught with chaff.
If you do not attract a law firm from the very beginning, then with a high probability you will have to redo much. Considering that at this moment lawyers will start to charge you $ 500 for an hour-long consultation, the couple thousand bucks saved at the beginning will cost you, perhaps, too expensive. With lawyers like oil filters: the miser pays twice.
By the way, you should like a comment on Truemors (it looks like I drastically overwhelmed the design): “Hi, I'm a web designer. They gave me a birthday computer and Frontpage and everything else was there. I can make for you any design - throw off your soap for me and I will write to you. ”