First of All, Let's Use a Lawyer

Lena Khorshid at MindPetals.com, the network site for young entrepreneurs, observes the following about the need for startups to engage legal counsel:

"Sometimes, I am stunned at how many entrepreneurs underestimate the value of competent legal counsel. They seem to do some sort of “weird math” that justifies subtracting legal fees only to add more money to the decorating budget...

In the long run, legal fees do add up. But, having competent legal counsel will save you money. I like to think of it as an expenditure with a concrete return on your investment.

For example, your lawyer will help you to negotiate favorable terms in your contracts; draft contracts that clearly reflect the terms of your business deal; and he/she can ensure that your contracts contain provisions that safeguard your revenue stream. In addition, your lawyer can apprise you of new developments in the law that can affect the operations and profitability of your business..."

A sentiment with which I must agree.

Read more at this Mind Petals post.

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