Posted on October 26, 2015
Legal fees can burn through a startup’s resources fast when firms bill at $500+ per hour. Fortunately, there are alternatives. Your startup can save money on legal services.
Some lawyers are willing to defer their fees until a startup is more solidly established, and others may be willing to work for equity in the company.
We’re going to explore some of these money-saving options:
- Go to a startup legal clinic
- Find a law firm you can pay in equity
- Defer fees
- Pay-as-you go
- Use free contract templates
- Hire a lawyer online
- Review contracts at lawgeex.com
Posted on October 13, 2015
No startup is an island. To succeed you’re going to have to form relationships with lots of other people and businesses: co-founders, investors, employees, vendors, customers, etc. To reduce risk and uncertainty, many of those relationships should be formalized with contracts. Here’s a short guide to the types of contracts your startup needs during the different business stages.
Posted on October 4, 2015
In the previous installment, we talked about how Sweet Street Desserts and Better Bakery worked together to create a pretzel sandwich, sharing information under an NDA.
Unfortunately, the parties had a falling-out. Sweet Street claimed Better Bakery had a secret scheme to steal the design and product development qualities of Sweet Street’s pretzel sandwich. Better Bakery denied the “secret scheme,” but it did start selling pretzel sandwiches to third parties.
Sweet Street sued for breach of the NDA.
Posted on October 1, 2015
Entrepreneurs often ask their lawyers for “bullet-proof” non-disclosure agreements (NDAs) that will prevent their business associates from stealing their great ideas.
The problem is, no such thing exists.
We discussed in this previous blog how an NDA won’t necessarily protect your ideas. The best way to protect an idea is to jump through the legal hoops that turn an idea into intellectual property– as we discuss in this blog.
Posted on September 28, 2015
This is part three of our three-part blog on making money from your great ideas.
In this blog, we’ll be talking about how to turn intellectual property into cash.
Posted on September 22, 2015
*Note: this is part one of a three part blog. Check back or follow us for the next two parts.
“How can I make money from this great idea I have for a business/product/service/movie?”
People often post questions like that on Q&A boards such as Quora.
Unfortunately, there isn’t really much of a market for “bare” ideas – especially since they’re as common as dirt.
Posted on September 9, 2015
Signing a contract is serious business. Every word is important and a contract should not be signed without reading and understanding it. Contract clauses can bite!
If the contract presented to you contains a ridiculous clause and you sign it, you will be bound to it (no matter how ridiculous the clause is)!
We thought we’d share some examples of ridiculous clauses from actual contracts, hoping you’ll be careful about what you sign!
Posted on August 27, 2015
A Silicon Valley Horror Story
It’s a common dream: to leave the large high-tech company you work for and bring your brilliant startup idea to life. But what if your employment contract puts your new venture at risk?
In honor of Labor Day, we’re going to explore a clause in many employment agreements that might be problematic later on.
Posted on August 18, 2015
“When I was a kid my parents moved a lot, but I always found them.”
― Rodney Dangerfield
It’s August – a time when many people move into new apartments so they’ll be settled in before the new school (or college) year starts.
Most people HATE moving – especially in the summer. What could be worse than hauling a sofa up three flights of stairs in the SWELTERING HEAT?
Landlords from Hell
Whatever time of year a move happens, there’s also the stress of signing a new lease.
Most leases are pretty standard, and some people will (unwisely) sign them without even reading them – let alone understanding them.
Even though your landlord seems friendly now, he or she could still turn out to be the landlord from hell.
Both common and uncommon lease clauses can cause major problems down the road, if you don’t realize what you’re agreeing to.
Here are some lease clauses you should look out for.
Does your apartment lease have a “bedbug rider”?
No, that’s not a microscopic guy with an itty-bitty lasso who rounds up your bedroom vermin. It’s a clause that covers who’s responsible if your place is infested with the nasty little creatures.
If bedbugs are common in your area and your lease doesn’t have such a rider, you might want to add one.
Recently the New York Times received the following inquiry:
My wife and I recently signed a one-year lease for an apartment. It included a rider stating that all apartments in our building had been bedbug-free for at least one year before our move-in date. After we moved in, we learned from the superintendent that an apartment in our building had been infested by bedbugs and treated a few weeks before our move-in date. …
As we understand it, the landlord is responsible for the costs of fumigating. Who is responsible for other expenses, like replacing mattresses and furniture?
The answer, according to the Times, is that (at least in New York City):
Under normal circumstances, a landlord is required to treat the infestation and a tenant is responsible for cleaning personal belongings.
Good to know, right?
Can a landlord evict someone for being a slob?
Maybe not an ordinary, dishes in the sink, pizza boxes on the coffee table, overflowing cat box-type slob, but a serious Hoarders-grade slob?
According to Landlordology,
Generally speaking, Landlords cannot dictate the cleaning behavior of a tenant unless they have reason to believe the tenant is violating health or fire codes, or causing damage to themselves, the property, or other people. With that said, if your lease states that the tenant must hire a monthly maid service, then that is a contractual expense which should hold up in court.
So the answer is, it depends on just how grody your place is, and what your lease requires.
To learn about more lease clauses that can cause you problems, please check out our earlier blog, here.
When you’re negotiating a lease, you’ll have a lot more leverage if you know what’s standard and what’s not – and what additional clauses could protect you. When you’re potentially dealing with the landlord from hell, you want to come armed with knowledge.
LawGeex makes that easy — you can upload your lease and have it compared to thousands of others to see how yours stacks up.
Click here to learn how it works, or click the link on the right to upload your lease and get fast feedback… before the bed bugs bite.
The information and materials in this blog are provided for general informational purposes only and are not intended to be legal advice.