Who is this blog for?
- Startups seeking to hire a lawyer
- Individuals looking to commence a new Startup business
You may have a Startup of your own or you may be interested in getting started soon and you must be wondering – do I need to hire a Startup lawyer and what does a Startup lawyer really do? That’s a great question given the vast variety of lawyers which you may encounter online and in other places – from business lawyers, to corporate lawyers, to Startup lawyers, you must be wondering which one is best suited for your needs and if you really need a lawyer altogether.
Startups are high growth companies in emerging industries. Startups alike many other businesses can have several legal concerns. At ideation, Startups may require assistance for intellectual property rights. At formalization of the business, Startups may require assistance in the organization of a corporation and shareholder agreements. Startups come in many shapes and sizes and as such the legal needs of Startups can be dynamic. A Startup at the ideation stage will obviously have simpler needs than a Startup undergoing a financing round. However, steps taken by founders at the early stage can well position a Startup from the get-go and ensure that money and time is saved at a later time.
Generally, we recommend that Startups, and their founders, retain a Startup lawyer at the ideation stage. This is to ensure that the Startup is structured appropriately from the beginning stages. For example, a founder’s agreement which is negotiated early on can help prevent disputes about shareholding and management duties which may occur later onwards. As the Startup grows the legal concerns and risk grow with it. It is best to mitigate such risks and retain a Startup lawyer early on. With that being said, it is highly recommended to retain a Startup Lawyer as soon as you are able.
Experienced Startup lawyers are generally well positioned to provide advice relating to the needs of Startups including but not limited to, intellectual property rights relating to products and ideas, founder and shareholder agreements between partners, stock options and other employment arrangements, and financing and capital requirements. Startup lawyers, having worked with many high growth companies, have the knowledge and expertise to keep pace with the dynamic and growing needs of Startups.
At Falcon Law PC our lawyers are proud to serve our Startup clients on a virtual basis. Falcon Law PC provides its Startup clients with scalable legal fees, bundled and flat packages, virtual meetings, and timely communication. Our lawyers would be pleased to provide a complimentary Startup consultation meeting. For more information about Startup lawyers, feel free to contact our team at info@falconlawyers.ca.
Raz Toor, Lawyer
April 22, 2022
