4 ms·
Over the past few years I've come to the conclusion that the vast majority of law firms actually commit legitimized fraud on a daily basis. There are a few hone
by thinkcomp 16y ago
Over the past few years I've come to the conclusion that the vast majority of law firms actually commit legitimized fraud on a daily basis. There are a few honest lawyers who actually take pride in their work (but who probably still charge more than their time is really worth), but there are many, many lawyers who are simply well-dressed scam artists.
New company documents should cost $0. Each VC firm should purchase the rights to the document templates up-front (or hire a general counsel full-time and draft their own!) and use them again and again.
Would this put a lot of lawyers out of work? Yes. Do they have loans to pay? Probably. Is that your problem as an entrepreneur or a VC? No.
Maybe this kind of system would encourage Americans to actually build things, instead of going to law school.
I actually feel so strongly about this that I'd be willing to contribute my knowledge (mostly in the trademark realm) to a group of pro bono non-lawyer entrepreneurs who have dealt with all of this stuff before. There's a lot you can do without actually being a lawyer. I even have a name and domain picked out for the group. Feel free to get in touch if you're interested.
- kovar 16y agoTo that end, a VC friend of mine pointed me to this collection of legal and funding documents for startups - http://www.orrick.com/practices/corporate/emergingCompanies/startup/index.asp http://www.orrick.com/practices/corporate/emergingCompanies/... I've used Nolo Press to set up several companies and non-profits. You really can do it yourself, at least for the simple organizations. And templates, such as the above, help with the more complex cases.