When you’re starting a new business, you need the best team on your side. For a startup business, choosing a lawyer that is going to ensure your business gets off the ground in a fast and affordable way is essential.
If you’ve taken the step towards becoming an entrepreneur and establishing a startup, it’s important to engage a lawyer early in the process. There are several things that you should consider when choosing a startup lawyer.
In this article, we’ll discuss some key things to consider, as well as some good questions you should ask.
Author: Farrah Motley, Legal Principal of Prosper Law.
Choose a startup lawyer that offers a personalised service
As a startup business, you’re unlikely to have hundreds of staff, so it makes sense to avoid law firms that have hundreds of staff and high prices. If you choose a law firm at the big end of town, be prepared to get lost in the crowd.
On the other hand, sole legal practitioners and small law firms can offer legal services that are personal. This means dealing with one key person who is going to be your day-to-day point of contact and has taken the time to earn your trust.
The importance of personalised legal services cannot be overstated. If you engage with a small business lawyer that is experienced with startups and is willing to ‘go the extra mile' and really get to know your business, this can only benefit you and your business.
Choose a startup lawyer that offers affordable legal services
Let’s face it – your business is new. At this stage, it’s important to control expenses and while you want value for money – rather than ‘cheap’ legal advice – this necessarily means avoiding $600 per hour lawyers. at the big end of town.
Instead, opt for a startup lawyer that offers a fixed-price legal service. That way, the value they can offer to your new venture is not based on time spent, but rather the outcome they are trying to achieve. Fixed fee legal advice also offers an incentive for lawyers to be efficient, rather than watching the clock tick over every six minutes.
Choose a startup lawyer that is commercial
As a startup, your business does not need a black-letter lawyer that is going to veto every possible solution. There will be problems along the way and it’s essential to engage a lawyer that has exceptional problem-solving skills and ‘gets it’.
Being commercial as a lawyer means finding creative and compliant solutions to tricky legal problems. It doesn’t mean simply advising someone they can’t do something.
Choose a startup lawyer that is able to communicate
Communication is key. Many lawyers are often criticised for their poor communication skills, including an inability to explain things simply and in plain English.
You need a lawyer who can manage the complex legal work and then explain it to you in simple terms and without the legal jargon.
This is important because, if you are intimately involved in the business, you need to understand why things are done a certain way and you will be reliant on a good legal advisor to develop this understanding.
If you choose an experienced startup lawyer for your legal needs, they will (hopefully) have developed a keen sense of commerciality. They will be able to help your new business navigate the legal requirements of setting up a new business and ticking those legal boxes.
Choose a startup lawyer that is accessible
If you choose an online lawyer, chances are that they are going to be very accessible. This might mean greater flexibility to meet with you (using video conferencing platforms, for example) and get things done quicker.
It’s better to be a big client with a small firm, rather than a small client in a big firm. You will get more attention, more service, and greater access to your chosen startup lawyer.
How can Prosper Law help?
Prosper Law’s legal services are provided by Farrah Motley, a senior Australian legal counsel. Farrah has experience working with small, medium, and large businesses to deliver first-class, commercially sensitive legal advice.
Contact the team at Prosper Law today to discuss our legal services for startups and find out how we can help you – for a fixed fee.
Farrah Motley | Legal Principal
PROSPER LAW - A Commercial Law Firm for Businesses
M: 0422 721 121
A: Suite No. 99, Level 54, 111 Eagle Street, Brisbane, Queensland Australia 4000
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