Startups typically hire their first in-house lawyer around 150-200 employees.
That is too late - here is why...🧵
That is too late - here is why...🧵
👷 Skills.
Lawyers are smart (yes, I’m biased). Good ones can handle your legal work and also take lead on other projects - a highly capable group IMHO. Tons of super smart lawyers would kill for this type of cross functional role. Give it to them.
Lawyers are smart (yes, I’m biased). Good ones can handle your legal work and also take lead on other projects - a highly capable group IMHO. Tons of super smart lawyers would kill for this type of cross functional role. Give it to them.
🏊🏼 Talent pool.
Biglaw firms have hundreds of associates - many are miserable and would jump in an instant to join your startup. Top legal talent is disproportionately allocated to large law firms. Doesn’t need to be this way and lawyers don’t want it to be.
Biglaw firms have hundreds of associates - many are miserable and would jump in an instant to join your startup. Top legal talent is disproportionately allocated to large law firms. Doesn’t need to be this way and lawyers don’t want it to be.
💰Cost.
Associates at firms get paid lockstep based on class yr. Waiting until your co is more mature means you probably will be hiring someone more senior who is used to earning $300k plus. Why not bring on someone more junior, pay them less and let them grow?
Associates at firms get paid lockstep based on class yr. Waiting until your co is more mature means you probably will be hiring someone more senior who is used to earning $300k plus. Why not bring on someone more junior, pay them less and let them grow?
Lawyers are the last person most founders / builders want in the room. Part of that is cultural in that lawyers aren’t perceived as additive (I know, u think we r all🩸suckers). Hiring lawyers earlier on will keep them away down the road - don’t sleep on legal talent.
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