By On Jan 10, 2019 Form Template
The standard form is immediately recognized by all parties in a transaction and the county clerks,” said Daniel Price, president and CEO of OneTitle National Guaranty Company, who deals with real-estate transactions using powers of attorney frequently. “If you presented them with anything other than the standard form…there is no guarantee that the clerk would accept and record it.
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.
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.
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