New Orleans Startup Attorneys & Lawyers

Why Hire a Startup Lawyer?

Starting a new business is an exciting venture. It gives you an outlet for your creativity and ambition, all while conducting the day-to-day operations as you see fit. However, without a startup lawyer to look after your affairs, you may fall victim to some unforeseen issues.

• Adding value to your company
  • One of the best reasons to hire a startup lawyer early in the inception of your company is to add intangible value. These individuals can advise you on crucial decisions that could make or break your business, offer suggestions on issues where your team lacks expertise, and ask right questions at the right times. Armed with these assets, a lawyer can turn intangible qualities into monetary value in the future.
• Complying with state and federal regulations
  • When you start a business, there's a ton of paperwork to do. Plus, you have to follow the rules and regulations laid out by state and federal governments. A startup lawyer can help guide you through this process and ensure that you follow the right steps. In New Orleans, this means registering your name with the state of Louisiana, getting the licenses and permits you need, and getting the right insurance.
• Changing the culture for the better
  • The key to hiring a lawyer lies within the hire date. The earlier you hire, the more impact an attorney has. With their analytical thinking, they can explore options, execute plans, and use data to come to conclusions. This starts a culture that can push your startup into the upper echelons of success from the outset.
• Providing services for non-business people
  • Another great advantage of hiring a startup lawyer is that they can handle things that a business-minded person can't. This includes hiring employees; settling disputes in-house, with vendors, or customers; protecting intellectual property, and more. This leaves you more time to handle the operations of the business itself.

How to Find the Best Startup Lawyer

Once you've decided that you need a startup lawyer, it's time to find the right fit.

• Go with the small firm
  • Startups need undivided attention to mount a successful venture. Although large law firms can offer this, it isn't the type of comprehensive service you'll get from a small firm. Solo practitioners or smaller firms with five or fewer people can attend to your matters with the utmost priority. You make up a bigger percentage of their revenue, and without retaining you as a customer, they may fail if you do. This makes you an asset.
• Getting referrals
  • Whether this is your first startup or one in a string of many, referrals are a valuable resource. You can ask other business owners who they hired, how they performed, and a slew of other questions. In the same regard, a good startup lawyer should give you referrals to other people who can help your business. This includes accountants, financial advisers, bankers, and other lawyers to handle specific tasks. This attention to the non-law aspects of your business is a surefire sign that this lawyer has your best interests at heart.
• Communication preferences
  • To have the best startup lawyer, you need to be on the same page when it comes to communication. Some considerations include emails versus meeting in-person, response times, and how much they talk or offer advice. Make sure to find a lawyer that meets your tastes, or communication could provide a problem.
• Don't be afraid to spend money
  • A major pitfall of many startups is not knowing where to cut costs. Many choose to hire a cheap lawyer because it saves them money for other aspects of their business. This isn't always the best approach. Although a cheap lawyer is good for paperwork or other basic needs, they don't provide the information and other assets that build a better business.
• Asking for experience
  • If you find that two startup attorneys have the same qualifications and attitude, it's hard to choose one over the other. In this case, experience is the final determinant. If they've had other successful startups or they've done it for decades, it's a no-brainer to hire them, even if it's at a premium.

Questions for Startup Lawyer

Once you've chosen a startup attorney and it's finally time to meet face-to-face, you'll want to ask the right questions.

• Are you familiar with my industry?
  • One of the best questions you can ask a startup lawyer is if they're familiar with your industry. Even if they have startup experience, that doesn't necessarily mean that it will translate to your business. Make sure they identify which industries they've worked with in the past to see if it gels with your ideas.
• What do you charge and how do you charge?
  • Startup lawyers bill differently based on their services. Some may charge you for emails, phone calls, and other things you may not have considered. By asking them what they charge and what for, you won't get hit with any surprise bills.