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What $10-20K in legal work are you talking about? If you are talking about incorporation, that costs next to nothing and takes little time. Just do it yoursel
by epi0Bauqu 19y ago
What $10-20K in legal work are you talking about?
If you are talking about incorporation, that costs next to nothing and takes little time. Just do it yourself.
Other than that, it depends how you value your equity. That is, read http://www.paulgraham.com/equity.html http://www.paulgraham.com/equity.html
- tony_wonder 19y agoI'm actually not entirely sure about the $10-20k. This was brought up during discussions with a couple of law firms. All of these firms want to jump straight into VC introductions, so I would imagine most of this money would go towards the legal work associated with raising a Series A. Regarding incorporation, do you have any suggestions as where to start? Thanks for responding.
- jey 19y ago> All of these firms want to jump straight into VC introductions, so I would imagine most of this money would go towards the legal work associated with raising a Series A. Sounds like a red flag to me. It seems like they're looking out more for themselves than for you and your business, unless for some reason they are super excited about your idea and think it needs a lot of VC cash ASAP to move forward.
- tony_wonder 19y agoTo clarify, we got very positive feedback from major law firms. Many basically take the stance of trying to get us together with VCs/angels while they draw up the incorporation paperwork, etc. Frankly, I'd prefer to incorporate on my own and don't want to get too far ahead (i.e VC meetings) while assuming the law firm will cover my ass.