Recruiting the Right Lawyer for Fundraising
Of course, you do have some knowledge of the legalities but it is somewhat limited. That’s where a lawyer comes in, and it is important for you to get only the best and no one else but the best.
If you’re thinking about getting funds and capital for your small business, then there are two considerations: the financial and the legal.
Not everyone knows how important it is to get yourself a lawyer to help with your fundraising ventures, but the truth is there.
What can a lawyer do to raise funds, you ask? Well, lawyers are not there actually to help you raise funds. They are to help you understand the legal requirements and hurdles that you will encounter during your fund-raising endeavors. With this lawyer, you can find out if the contribution you are getting is illegal or not, or if the terms of the contract will not land you in legal trouble while the other party does not.
You probably understand now the importance of picking the right lawyer to help you raising funds for your business.
The Attorney Should Have a Background in Securities Law
There are a lot of attorneys out there. Each of them specializes in a field. There is an attorney for criminal procedures and there is an attorney for corporate litigation, and so on and so forth. In the context of fund-raising, you should find yourself an attorney who has enough experience and specialization in the fields of securities law as this is a field all on its own. He/She will be a big help in coming up with your company’s stock option plans to be extended to your executive employees, as well as the legal issues about issuing stock to third parties especially when your company grows and ultimately becomes public.
An Attorney with Connections to a Reputable Firm Can Do Wonders
Not everyone knows how important it is to get the services of a well-known law firm. This is because investors are more confident about putting money in businesses that have the legal backing of a reputable partner. This assures them that you have someone with adequate legal knowledge advising you and preventing you from making the wrong decisions which could lead to possible failure of the business. It’s their money on the line, after all, not just yours.
You Should Get Along With Your Attorney
This is most often overlooked, but to build a good working relationship, the attorney should be able to get along with you and your team if he is to work for you. All his legal skills and expertise will probably be in vain if he doesn’t get along well with any one of you.
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