Thursday, February 7, 2008

On Lawyers (Part I)...

While I can still laugh at that ageless joke "What do you call a thousand lawyers buried up to their necks in cement and thrown into the the ocean? A good start!" I will must admit to you all that some of my closest friends are lawyers.  For start-up, mistakes can be deadly so getting good legal advice is key. You might be like me, ambitious but cheap so you'll try (as I did) to go it alone. And for a time it works. Determining your optimal corporate structure can be done solo and so can writing your business plan, finding space, identifying employees, etc. But once you are ready to engage, you really need an expert. 

My lawyer doubles as a close friend so the choice was easy. Moreover, he made me an offer I couldn't refuse. Now on board, I realize I could never write legalese nor think about all the possible considerations a contract requires - even with a template. Why the legal language is as it is I understand not, I'm just happy that I have someone fluent with me. Also, he's the bad guy - not me - so I can focus on making products. I'm sleeping at night knowing my interests are protected and, hopefully, he knows that his cash-strapped client may one day repay him well above his standard hourly rate....

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