Question
Does having a brand-name law firm matter in incorporating a start-up? Big firms seem to be quite pricey. Does a VC care about which law firm we used for the incorporation? Are the industry contacts that big firms might have generally s a reason for startups to approach them over smaller or local firms?
Answers: 2 public & 0 private
Yes, it might matter. If you are represented by a big-name firm then the firm probably has contacts and can make introductions to potential investors. Also, they may waive their fees until you are funded (at which point the waived fees become due). After you receive your first round of financing, you can move to smaller, less expensive boutique firms for your day to day legal needs (and return to the big-name firm for the high priced transactions like acquisitions or IPO). Also, the big-name firm has a lot of experience working the various VC firms.
No it doesn't matter, you can hire a boutique or individual lawyer/solicitors to take care of your work.
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