Guy on “The Top Ten (Sixteen) Lies of Lawyers”; also, a tidbit on this topic

Guy Kawasaki writes The Top Ten (Sixteen) Lies of Lawyers, a good fun read (especially if you have to deal with attorneys)… On this topic I will add the following though:

–> Keep lawyers and your business separate…

One of Guy’s points to watch out for is when you are told by an attorney firm the following:

“Our firm is really excited about what you’re doing, so we’d like to invest in your company too.”

But the above, while tempting (since it seems as a way to save $ — legal is one area your startup will spend lots of cash so to protect the founding team, the investors, and other), is a no-no; same as “deferring” legal expenses in lieu of “stocks/ownership”. Above will create a biased (conflict of interest) legal team, one that you need unbiased, with 100% clear vision, when it matters the most.

ceo