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At least in NYC I believe the startup is expected to pay both sides' legal fees, usually with a cap.
by mnutt 15y ago
At least in NYC I believe the startup is expected to pay both sides' legal fees, usually with a cap.
- jasonmcalacanis 15y agoIf you're paying your VCs legal fees you're making a mistake. You don't need to do that any more. :-) You can also cap it (i.e. $10k of your legal fees). Fight for this point by saying "you want as much money in the company as possible"). $25k is fairly standard on a $4M raise.