We’re honored that EvolveLaw recently ran a guest blog on fundraising issues for startups from our CEO and Founder Noory Bechor.
Noory’s looked at startups from both sides – initially as a lawyer for venture capitalists and other investors, and now as the CEO of LawGeex.
As Noory writes:
According to the management maxim known as Miles’ Law, “where you stand depends on where you sit.” I.e., we naturally tend to see things from the perspective of the position we occupy, and have to work harder to see things from another perspective.
If you’re a start-up founder, it’s helpful to know how your version of reality diverges from the view of potential investors – and their lawyers. You can be more effective as a negotiator if you understand the other side’s goals and fears as well as your own.
Three Tips on Fundraising
Noory’s tips focus on:
- Avoiding fatal mistakes
- Minimizing risks as well as maximizing benefits
- Not getting burned by a bad contract
We’ll be running a guest blog from EvolveLaw’s Mary Juetten in the near future.
Avoiding Bad Contracts
Check out our blog on 14 Types of Contracts Your Startup Needs and then check to make sure your own contracts won’t cause you problems.
The LawGeex contract review tool helps you understand contracts quickly and easily, cutting through the legalese and explaining the terms in simple English.
We review 17 contract types now and are adding more. We’ve recently upgraded our NDA tool to provide even more useful information, and more upgrades are in the works.
Simply upload your contract to LawGeex to get it analysed and receive a FREE contract score with a summary of issues.