By On Oct 01, 2018 Form Template
So which is the right choice for you? If you’re like most entrepreneurs starting out, you don’t have capital to burn, so the choice might already be made for you. However, if you’re on the fence, here are some pros and cons to implementing customizable legal documents and templates that should help you make a decision.
Startups in Silicon Valley raising their first round of funding can spend upwards of $80,000 on legal fees, according to VentureBeat. Neither the entrepreneur nor the investor wants to see that kind of dough diverted from product development and marketing to lawyers. Enter iDisclose, co-founded by Georgia Quinn. “It takes a TurboTax-like approach, enabling entrepreneurs to do 80% of the work using an online tool that walks you through every step of writing legal agreements with investors,” Quinn says. You still, however, need a lawyer to review the document.
Companies like Legal Hero provide businesses with a vetted network of quality lawyers who agree to work on projects for a flat fee. Sound impossible? Not really. “Experienced lawyers know how long it takes to do various types of contracts and projects,” said Annie Weber, co-founder and CEO of Legal Hero.
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