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November 3, 2016

[Video] At which point in my startup should I hire a lawyer? – Bobby’s Minute, ep. 43

There is a right time to hire a lawyer if you want to avoid any problems later on.

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Transcript:

At which point in my startup should I hire a lawyer? I might be biased answering this question because I have 2 lawyers in my family: my sister and my mother and I’m used to consulting a lawyer whenever I need to look over an agreement or sign anything, so in my opinion, if you are starting a company, you need a lawyer as early as possible, especially when you have co-founders.

When you have co-founders, you need a lawyer for the co-founder agreement, you need a lawyer for the early stages of the startup, to create a document that you need to fill in to create the company. It obviously depends on the country you’re in, but my experience is that you need a lawyer as early as possible.

At Mavenhut, we’ve had a lawyer right from the first day, obviously because it was my sister helping me, but we’ve also hired in Ireland, where we started the company, a lawyer right before creating the company. So, we’ve had a lawyer at Mavenhut right from the start and what I can tell you is that having a lawyer early in the company actually saves a lot of pain later in the life of the company.

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