Originally Posted by mabsey
Any ideas where to start without getting expesive lawyers involved?
In business terms this notion, of lawyers being too expensive, really is a myth. Buying supermarket food on the cheap may be one thing but, cutting legal costs is a whole different risk.
The question should be, do you want good advice and a sound business contract, to protect you and your partner's property? Do you want a cheap lawyer who will do what you want, until you need to rely on his contract - only to find it is useless.
If you place any commercial value on your product you want expert legal advice to protect it. Therefore, you HAVE to pay somehow, sometime
There's no point going to any ol' lawyer to explain the juridictional implications and issues, if he hasn't got a clue how to draw up an effective watertight agreement. And for an effective agreement, I would suggest you need an expert corporate lawyer, of very high repute, who specialises in your field.
You are more likely to find one amongst them who will support you with a range of advice that you never thought of asking about. He/She, will keep you protected throughout your business transactions. That
is one reason why a good lawyer is considered by some to be expensive. They watch your back, even when you don't know there is a threat to it and in some instances, they will have the issue dealt with (almost) before you know about it. (This could mean the difference between your business staying up or going down).
Many of them will charge you less at the beginning, because they want you to become bigger at which point, they can charge more - to make up for the lower start up fees they will have charged you. This is usually why they have large 'rack rates' (like hotels do). but they (the good ones), are flexible with their clients needs.