By On Sep 12, 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.
Some sites provide a wider range of legal services, from filing a trademark, creating a living trust, to forming an LLC, among others. However, these services are rather straightforward, and if you have a specific requirement that is somewhat specialized, these services may not be for you.
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.
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