Dear Entrepreneurs: Choose Your Own Legal Counsel

Introduction

The purpose of this post is expand upon my answer to the question on Quora:

“What should you do as a startup when a Bay Area VC insists that you use their expensive legal counsel?”

Mark Suster, a VC at GRP Partners, has also written and spoken about how he likes to “share” his legal counsel with the startup in which he is investing.  My advice to entrepreneurs is clear: push back hard on this issue and choose your own strong, independent legal counsel – i.e., a law firm that’s going to work hard to protect you and watch your back.

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Tags: conflicts of interest, entrepreneur, entrepreneurs, ethics, investment banker, investors, legal counsel, M&A, startup, term sheet, vc
Posted in Lawyers, Startup Issues | 5 Comments »