Every startup needs legal counsel to guide them on how to protect and grow their business. But not every startup has a massive budget to pay for legal fees at the outset. Each startup needs to balance their budget for startup legal services while investing in other areas of their business such as marketing, technology, and staffing. So, this begs the question: How much does a startup lawyer cost? This blog will help break it down for you.
Every startup lawyer or law firm is different. They have various levels of experience and different ways they charge their clients. On one end of the spectrum, large national law firms have numerous attorneys who can serve startups in several areas. But this large-scale service means more billable hours, higher fees, and extremely high startup costs. With a large law firm, you can expect to pay thousands of dollars in legal fees for each legal project your startup needs.
On the other end of the spectrum, there are online services such as Rocket Lawyer and Legal Zoom. These technology solutions provide low-cost options for startups to help with things like incorporation, basic contract templates, and intellectual property filings. These startup legal services cost a few hundred dollars for legal documents, but they come with one giant caveat: Rocket Lawyer and Legal Zoom are not law firms. Rocket Lawyer and Legal Zoom cannot provide legal advice. They do not represent you as a lawyer. They are simply online forms for “Do It Yourself” legal services. This is a budget friendly solution for startups with a small legal budget but consider the quality of service you receive for the price.
The third option is working with a startup law firm that specializes in providing high quality startup legal services at an affordable cost. These law firms are typically run by an experienced startup attorney who previously worked for a large national firm and then became a startup themselves. These startup lawyers typically have a high level of legal experience but charge lower rates than larger law firms since they have less overhead and can pass those cost savings to their clients. This is usually the “sweet spot” when looking for an affordable startup attorney.
At The Social Media Law Firm, our startup attorney helps startups with high quality legal services for an affordable cost. Our firm’s founder, Ethan Wall, worked for a national law firm for eight years before founding his law firm as a startup. He brings experience working with a large firm and the ability to help with many legal services, but understands what it is like to start a law firm and startup from scratch.
The Social Media Law Firm offers low fixed fees or startup lawyer on retainer services that help entrepreneurs with everything from incorporation, contracts, trademarks, terms and conditions, copyrights, and more – but for a fraction of the cost of a national firm. If you need a high-quality startup attorney for a reasonable cost, contact us today for a free consultation.
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