You have many choices when selecting a lawyer to assist your startup company…us lawyers aren’t exactly an endangered species. But one decision you should never make is to draft legal documents yourself. These documents are just too critical to be drafted and–more importantly–issue spotted without legal education and experience.Because entrepreneurs are resourceful and capital tends to be scarce, they have a natural tendency to do their own legal work (Hello Google!). Entrepreneur, resist this urge.I realize forms and sample contracts can be found on the Internet or at your local bookstore. At best, these legal documents were drafted for different companies with different situations and usually in different jurisdictions. At worst, they are a basic template without many provisions and clauses your company needs.If you conduct your own medical surgery and make a mistake, you may have time to call 9-1-1 and get patched up. But if you do your own legal work and execute documents, it’s too late.I know capital must be conserved, but keep in mind that spending $0 can end up being a terrible financial decision. When you hire a lawyer, you are paying for more than just a piece of paper. You are paying for the lawyer’s issue spotting, strategy, advice and execution.If the old adage goes “A lawyer who represents himself has a fool for a client.” What does that say about a non-lawyer who represents himself?
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Startup Lawyer is a website for participants of the startup ecosystem. Articles are generally legal in nature but topics may include issues and current events as they relate to the startup ecosystem.