As a new startup founder, when is the right time to start working with a lawyer?

As a new startup founder, when is the right time to start working with a lawyer?

Launching a startup is an exciting journey. You have a brilliant idea, a vision that could change the game. But amidst the excitement of bringing your idea to life, legal matters often take a back seat. Who wants to deal with contracts and regulations when you're dreaming big, right? However, whilst they aren’t always glamorous, the importance of legal issues doesn’t go away. As a founder or entrepreneur, you're juggling various responsibilities. Legal matters might not be your expertise, but ignoring them could lead to trouble down the line. 

When you're just starting out, the legal landscape can seem overwhelming. But you don't have to dive in headfirst. As your startup grows, so do its legal needs. That's where lawyers, and legal software like Legal Sidekick, come in handy. Think of us as your experienced guides, there to help you navigate closing deals, contracts and compliance. Bringing in legal expertises early, rather than just relying on Google, can save you a lot of headaches later. Working with Legal Sidekick and startup lawyers from Accelerate Law can help you figure out the best business structure for your startup, devise strategies for building an incentivised team, protect your intellectual property, and steer clear of any legal hurdles.

As your startup gains traction, it's time to start thinking about contracts. Clear and well-drafted contracts are essential for keeping things running smoothly. Sometimes it’s okay to use a generic template you found on Google, but investing in legal expertise is like having a secret weapon in your arsenal. Creating and reviewing contracts professionally not only ensures that everything is ironclad, reducing the risk of misunderstandings and disputes, but also that the deal you’re trying to close is fully optimised. Ultimately, this typically leads to you making better decisions and more money.

When it comes to funding in particular, legal know-how is crucial. Your legal team can help you navigate SEIS and EIS, investment structures, agreements and key negotiation points with investors. We'll make sure you're dotting your i's and crossing your t's, so your investment deals are future proofed, and you can focus on growing your business without any legal hiccups getting in the way.

It’s never too early to start dipping your toes in. Legal stuff might not be the most exciting part of building a startup, but it's definitely one of the most important. So, don't wait until you're in legal trouble to get some help. Take the plunge early on, and you'll thank yourself later.

At Legal Sidekick (powered by Accelerate Law), we get it. We know that the legal part in the early stages of a startup can be intimidating, but it doesn't have to be. With our automation technology and (human) legal experts ready to make sure you’re 100% on the right track, we're here to help you navigate the legal maze and set your startup up for success. Plus, you can start totally free. From protecting your intellectual property to navigating funding rounds, we've got your back every step of the way.

In your earliest phases, try out Legal Sidekick (powered by Accelerate Law), our UK startup law platform to help you navigate everything legal in the first year of your startup, and create automated contracts with supervision and guidance from an experienced startup lawyer. Legal Sidekick is designed for UK early-stage startups, looking for support with co-founder agreements, contracts to launch an app and more.