The most expensive legal documents are the ones you never knew you needed until it was too late.
For one example, filing a timely 83(b) election can be the difference between paying no taxes on an appreciating ownership interest in a startup and paying hundreds of thousands of dollars at a time when you don’t have much liquidity.
Similarly, failure to scrutinize prior employment agreements of all the co-founders could jeopardize the ownership status of any work product associated with the new company, and thus, the future of the startup.
Establishing a relationship with a lawyer doesn’t have to be cost prohibitive or unduly burdensome on your time and resources. Serious startups and businesses need legal counsel at the early stages of development, even if it’s just the occasional conversation. There are many ways to keep legal costs to a minimum, but trying to avoid them altogether could be the most expensive legal mistake you ever make.