How to Hire a Lawyer FALL 2018

When do I need a lawyer? When you should be forming an entity to get liability protection Before you form your entity Before you commit too far into a name When you think you have protectable IP Disclosure issues When you have people working on your project who aren’t being paid Entrepreneurship & Intellectual Property Clinic

What about DIY Lawyering? Law firm resources WilmerHale Launch FoundersWorkbench CooleyGo Non law firm resources Clerki LegalZoom Drawbacks No one probing to ask the important questions Limited customization Cost of fixing later Entrepreneurship & Intellectual Property Clinic

Choosing your team Get referrals Prepare for your meeting Read website, bios Ask about prior deals/clients? Think about large vs. small Level of service Expertise Need to refer out (having multiple law firms sending bills) Evaluate connections and access Look for investment of time in non-billable activities Entrepreneurship & Intellectual Property Clinic

What should my lawyer know? Entity formation IP and licensing Other contracts VC and private equity transactions Immigration? Others? Entrepreneurship & Intellectual Property Clinic

What questions should I ask? How long have you been doing this kind of work? Will you be doing the work? Finders vs. minders/grinders What do you already know about my kind of technology/industry? Do you have other similar clients? What do you do to be involved in the tech/entrepreneurship communities? Entrepreneurship & Intellectual Property Clinic

The Engagement Letter What should it cover? How specific should it be about fees? What does it say about conflict Entrepreneurship & Intellectual Property Clinic

How do lawyers bill? Free help (clinics) Clinics in Boston area Drawbacks Hourly billing (and increments) Project billing Deferred billing Expenses Entrepreneurship & Intellectual Property Clinic

How can I lower my bills? Be organized Research before asking Be efficient (save up your questions) Be reliable Get itemized bills Entrepreneurship & Intellectual Property Clinic

Building the relationship Choose a lawyer you like Choose someone who doesn’t just say no Choose someone who shows interest in your business/technology Do they want to know how it works? Do they offer non-legal ideas? Invite them to come see (off the clock) Entrepreneurship & Intellectual Property Clinic

Questions? To meet with the Entrepreneurship & IP Clinic or learn more about our services, visit sites.bu.edu/ELawClinic Entrepreneurship & Intellectual Property Clinic