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Forbes Legal Council
Experienced chief legal officers & law firm partners from Forbes Legal Council offer firsthand insights on legal issues
For the owner of an early-stage startup, it may seem impossible to find great legal representation when a strict budget simply won’t allow for it — but skimping on legal due diligence can be equally problematic.
Six chief legal officers and law firm partners from Forbes Legal Council discuss the different ways a bootstrapped business venture can obtain good counsel without drowning in legal bills, from applying to accelerators to negotiating flat rates.
Clockwise from top left: Peter Minton, Anthony Johnson, Matthew Moisan, Rachel Rodgers, Matthew Rossetti, Doug Bend. All photos courtesy of the individual member.
1. Decide Your Priorities
Cheap attorneys are rarely good, and great attorneys are never cheap. It’s more economical to pay for something to be done correctly the first time than to go back and fix it. Once you’ve found good counsel, ask what your priorities should be. They’ll be able to guide you on what needs immediate attention and what expenses can wait. – Peter Minton, Minton Law Group
2. Consider an Accelerator
Most accelerator programs come with access to a legal team that will get all your legal documents in order. Y Combinator pioneered this popular investment model since the tech bubble burst in the late ’90s. If an accelerator program isn’t a good fit, many large firms will take on startup work pro bono in hopes of getting more work down the road. – Anthony Johnson, Johnson & Vines, PLLC
