"Econiiq"’s Post

Business Law: Building Strong Foundations for Growing Businesses. At LB Law Group, we specialise in navigating the legal complexities that accompany business growth. Whether you're launching a startup, expanding operations, or preparing for transitions, our firm offers unparalleled expertise and dedication 🌐 https://lnkd.in/g_sgfG56 #LBLawGroup #LiveBetter #BusinessLaw

Ever heard of the "Entire Agreement" clause in contracts? It could be the key to avoiding messy legal disputes down the line. In many business transactions, like those between VCs and startup founders, there's often a lot of discussion and negotiation that happens before the official contract is signed. However, all those prior discussions can easily be lost if they aren’t included in the final, written agreement. This is where the "Entire Agreement" clause plays a crucial role: it means that once signed, only the terms in the contract itself are binding, and anything previously discussed or promised doesn’t hold weight legally. So, if you’re negotiating terms, make sure everything you agreed upon finds its way into the contract itself, not just an email or text message. This small step could save you major headaches and ensure clarity in your business relationships. #ContractLaw #EntireAgreementClause #BusinessContracts #VCFunding #StartupLaw #CorporateLaw #LegalTips #BusinessAgreements #StartupFounders #VentureCapital #DueDiligence #BusinessNegotiations #LegalInsights

There's no such thing as a silly question! With our on-demand legal support, you’ll get clear, concise answers whenever you need them to all the questions that crop up in your business. Our fixed-price monthly subscriptions are perfect for: 💫 Startups and scale-ups 🦄 High-growth SMEs ☀️ Established SMEs 🧑🏽💼 Businesses with their own General Counsel Don’t let boring contracts slow you down. Contact us to book a discovery call at 0113 347 4733 or email [email protected]. #LifeIsTooShortForBoringContracts #SME #founders #investment #corporatelaw #employmentlaw #contracts #fractionallegal

Building your business on solid legal foundations is essential for success. Taking advice early is highly recommended and some businesses may appreciate our cost-effective startup business mentor scheme (available by application only). Our startup lawyers can advise on what legal documents you are likely to need in the early stages (and which ones you don’t need) and can normally offer them in a fixed fee legal document package. For more information: https://lnkd.in/eQph-tUQ #Startuplawyers #ShareholdersAgreement #FoundersAgreement #TermsandConditions #ConfidentialityAgreements #LegalMentorScheme #FixedFeeLegalPackages

The first thing any startup owner should do is establish business priorities and goals. Your startup’s ideal legal structure will depend on the nature of your business, how high risk it is, and how likely it is to grow. https://lnkd.in/gjr_VhH #businessattorney

The legal landscape of startups can be daunting. Let our expertise guide you to the right structure tailored for your business goals and concerns. #3SummitsLaw #GwinnettLawyer #FromGwinnettForGwinnett, #FromTheCommunityForTheCommunity #BusinessLaw #BusinessLawAttorney

The first thing any startup owner should do is establish business priorities and goals. Your startup’s ideal legal structure will depend on the nature of your business, how high risk it is, and how likely it is to grow. https://lnkd.in/gH8QrcPy #businessattorney

💼 A founder just received a $100k bill from a big law firm for SAFE financing. Here's how to handle it: Negotiate: Ask for a discount and a payment plan. Emphasize you are a startup status and desire for a long-term relationship. Hint at future lucrative work (M&A, IPO) Pay if possible: If you have the funds, pay the bill. Consider switching to a firm run by ex-big law lawyers for future work (e.g., Lawlace, SLS, Presidio Legal). If you can't pay: - Be humble and take responsibility - Explain the situation (e.g., lead investor pulled out) - Ask for help and flexibility 🔑 Key Takeaway: Act like a long-term player. Build relationships, not bridges. 💡 Pro Tip: Always discuss billing expectations upfront. Consider flat-fee arrangements or caps for specific projects to avoid surprises. 🚫 What NOT to do: Ghost the law firm Refuse to pay without explanation Threaten or become confrontational Have you faced a shocking legal bill? Share your story below! #StartupLawyer #StartupFounder #LegalFees #EntrepreneurshipChallenges

Sometimes the costs startups will pay may be driven by the jurisdiction where founders create their entity. Nevada-based entities may pay lower fees by working with Nevada lawyers to handle ordinary transactions. The cost of living in Nevada is relatively low. Lawyers here can have four-bedroom houses in good neighborhoods with pools for less than the cost of a one bedroom apartment in Manhattan. Good lawyers cost money, but you don't always need the world's best possible lawyer to work on an ordinary project. Take a litigation matter as an example with some basic assumptions.* A $300/hour lawyer might give you a 70% chance of winning a case. A $600/hour lawyer might give you a 75% chance of winning. Is the extra 5% worth it? Probably not unless you've got enormous exposure. If you're looking at a billion-dollar problem, that extra 5% is worth $50 million. If it's a $500,000 dispute--you're going to pay an extra $300 an hour for $25,000 in expected benefit. It'll burn through the differential in about 84 hours of work. All of what's below is great advice. But if you set up in an economical jurisdiction and hire competent and fairly priced counsel, you can avoid many of these problems. *The other tricky thing to know is that it's really hard to evaluate how good lawyers are. The $300/hour lawyer might actually be better than the $600/hour lawyer. Price is not always a perfect guide to quality in the market for legal services. But there is often a relationship because lawyers that are paid well are going to spend more time working on your projects.

Are you thinking about setting up your own company? Whichever legal structure you choose, make sure it’s the one that’s right for you. Our team can guide you through the process, ensuring compliance with all regulations and providing expert advice every step of the way. For professional and impartial advice, email [email protected] #CompanyFormation #BusinessStartups