Question
Besides incorporation and all the standard consulting and documentation work that goes with it, when will we as a tech startup need a lawyer? I understand that the moment there is a lawsuit in the room consulting a lawyer will obviously become necessary. But what are other typical issues in a running startup company where we should get legal advice or where startups regularly fail to consult with a lawyer even though they should?
Answers: 2 public & 1 private
Aside from corporate and transactional issues, it is prudent to consult an attorney to evaluate and secure IP assets. Indeed, a tech startup relegating 5% of its budget to legal matters is not unheard-of.
In my experience, the situations which tend to "blow up" most often involve branding (mis)decisions and failing to properly memorialize and define working relationships among founders and those employees/contractors the company engages.
Most legal efforts are prophylactic in nature. You have waited far too long to speak with an attorney if you only do so when it's time to litigate.
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