I represent exclusively investor-side and the benefit to engaging counsel is showing some sophistication. A lot of my funds and angel’s feel like they’ll have to hold the founder’s hand through simple things.
For example, LLCs have operating agreements (or company agreements in other states). Corporations have a charter and bylaws.
Good rule of thumb and not legal advice: if you’re going to have more than a few investors -> incorporate. If not -> just form an LLC. If for some reason you’re thinking S corp -> please hire a lawyer.
I represent exclusively investor-side and the benefit to engaging counsel is showing some sophistication. A lot of my funds and angel’s feel like they’ll have to hold the founder’s hand through simple things.
For example, LLCs have operating agreements (or company agreements in other states). Corporations have a charter and bylaws.
Good rule of thumb and not legal advice: if you’re going to have more than a few investors -> incorporate. If not -> just form an LLC. If for some reason you’re thinking S corp -> please hire a lawyer.