Lawyers are not (that) evil

Posted on June 19th, 2007 in Entrepreneurship, The Company by Marc Bourbonnais

… they’re actually very nice, especially when you hire them for pleasant matters like incorporating a business. This is usually the first commitment in a start-up that costs a fair amount of money. It’s tempting to try and save a few dollars by choosing a lawyer as if you’re shopping for specials, but as Guy Kawasaki constantly reminds his readers, this is an important step that could have big repercussions later on. Same goes for the next step, the shareholder agreement. You need a good lawyer with knowledge of corporate law and experience with start-ups. Usually an established firm will have someone that can work with you.

 I was lucky enough to have a friend who was born and raised in a family of entrepreneurs. As soon as I talked about my project he asked me: “Do you have a good lawyer?” Before I could answer his PDA was open and he was giving me his business attorney’s phone number.

 So yes, the ball is rolling, and soon the company will be a reality. It takes a couple of weeks to go through the paperwork. In the meantime the domain is already bought. Unlike choosing a good lawyer, for domain registrars you can shop around for cheap prices… and save about one or two dollars.

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