By On Oct 06, 2018 Form Template
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.
Every penny counts for startups and small businesses, but some companies try to save money by neglecting to draw up contracts or to seek legal advice. This is penny wise and pound foolish. In the long run, your attempt at savings can cost your company, both in the event of legal action down the road and in lost opportunities.
Forms are printed documents with spaces where you can insert information. Forms have been created (by courts, self-help centers, legal aid organizations, and the like) to help people in their court cases. Forms typically will not explain the governing law to you, and they may not provide or cover all of the information necessary for the court to reach a decision. You should use legal forms as a tool in conjunction with the other written documents you prepare, information you gather, and research you do about the law governing your case.
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