The beginning stages of growing your startup from idea to full fledged business can be one of the most exciting processes for any entrepreneur. During this time of transformation and rapid growth, having the right legal team on board is absolutely essential to the future success of your operation. Your legal counsel should be able to guide you through the many steps and requirements faced by your business, as well as help you prepare for the future with confidence. At Paperclip Law, we know that finding the best lawyer for your startup can often feel overwhelming. To help reduce the confusion and anxiety often felt by founders, we’ve put together a short guide to assist with the decision making process. Learn more below!
Know The Role(s) Of Your Legal Team
A solid legal team is more than just an asset in times of trouble. The right fit will be your first line of defence, as well as your greatest support as you continue to grow and expand. Areas covered include:
- The incorporation of new companies
- Corporate guidance and board advisory services
- Intellectual property guidance and defence
- Employee and compensation agreements
- Manufacturing, distribution, licensing, and consulting agreements
- Non-compete, solicitation, and disclosure policies
- Asset protection
- Tax strategies
- Litigation and lawsuits
- Risk management
- Creative negotiations
- Protecting your personal and professional investments, and more.
Finding Your Match
With your legal counsel covering so many different areas, forging a strong partnership is crucial. Knowing what to look for in a potential firm will save you from countless headaches and allows you to focus on what matters most: growing your startup. When considering partnering with a legal team, you’ll want to keep the following six points in mind.
1. Do They Meet You Where You’re At And Take You Where You Want To Go?
Choosing a law firm isn’t just about today, it’s about investing in a relationship that allows you to plan for a better, stronger tomorrow. Make sure you partner with a team that’s equipped to serve you both in the present, as well as the future.
2. Do They Have The Capacity To Keep Up With Your Pace Of Growth?
Life in the startup world moves fast. Your legal team should have the knowledge and expertise to handle your continued development, regardless of the pace.
3. Do They Bring Creativity And Custom Solutions To The Table?
Your business stands apart from competitors, and so should your legal counsel! Make sure you have a team that brings a creative and innovative approach to your meetings instead of fitting your needs into a “box”.
4. Do They Encourage Transparent Communication?
Working with a team that’s able to translate “legalese” into English while working alongside your core members allows your business to proceed forward confidently.
5. Are They Ready To Act As A Barrier Against, And Remove Roadblocks On the Road To Success?
A skilled legal firm empowers your startup to grow, proactively guiding you through the many challenges, requirements, and opportunities you’ll face along the way.
6. Do They Align With Your Core Values And Culture?
At the end of the day, chemistry matters. Knowing that your legal team gets your vision, as well as your needs and desires, is just as important as having confidence in their expertise. Having a cultural fit makes it easier to foster a long term relationship that serves you well, year after year.
Ready to work with an experienced law firm that believes in treating business owners as more than “just a client”? At Paperclip Law, we’re here to do so much more than bill you for our advice. Our team takes pride in partnering with our corporate clients to find the best solutions for your startup today, tomorrow, and in the many years to come. Find out more by contacting us today.
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