The most atrocious overcharges we've experienced have been around equity asks. For some reason firms think it's good practice to ask for a sizable chunk as an

The most atrocious overcharges we've experienced have been around equity asks. For some reason firms think it's good practice to ask for a sizable chunk as an interest payment for their incorporation fee (which they expect to be paid anyways). Even if a company is worth $1m (founders time for 4 years) half a point (standard ask) is $5k. If incorporation costs $10k (mid-range) that's 50%+ interest! Not to mention there is some risk mixing the roles of counsel (representing the company) and owner (a minority shareholders) I think this has spilled out from WSGR and hope it stops soon.