Advocates and lawyers usually do not carry a sense of trustworthiness or genuine helpers. Especially, when it is about counselling with advocates during a business dispute. In most of the cases, lawyers are only seen making the situation much worse for both parties. It is a scenario that everyone tries to ignore when working with them. Above all, we see lawyers or advocates as the last resort for resolving conflicts from any aspect. And, we all have to agree that everyone needs legal counselling at some point in our life.
Similarly, in the case of a startup, individuals and entrepreneurs come forth with innovative ideas, new products, and technologies to focus on providing modern solutions to our current issues and problems. Our society needs such individuals as they are the exuberant and enthusiastic candidates that are always ready to bring change in our society and make it even better. People always welcome these candidates as they add values to our existence.
Likewise, angel investors and venture capital investors strive to make investments in their startups. Furthermore, in the pursuit of raising investments for the startup, the candidates end up ignoring the legalities that it carries. While requesting for raising funds for your business, you must clear some of the fundamental procedures and come to consensus grounds where both the parties get benefitted from each other. For that, we need legal practitioners to help out in seen and well as unseen scenarios.
Moreover, we should always be vigilant and careful while consulting with a legal practitioner or a lawyer. There are a few misconceptions that need to be cleared before consulting an advocate for legal proceedings.
Startup Don’t Require Lawyers At All
Every business needs an advocate to process their legal obligations, even the smallest business. Similarly, there is no exception for startups as well. Most people think that lawyers are only needed in large corporations and well-established companies. It is not just the case.
A good and certified lawyer is equally important as keeping a trustworthy manager or team leader in the company. You won’t be possibly handling all the future contingencies associated with key legal issues. It takes a good law practitioner who is certified with the legal possibilities and their respective resolution in the startup ecosystem.
Hiring Lawyers Increases Your Overall Expenses
There is no question that some lawyers have been working for many years and they carry immense experiences in their field of law. They become highly-specialized in their expertise over time and, eventually, start exploiting their clients with their skills of ambiguous law statements.
Many of the gullible business clients fall into their trap. Some lawyers are experts in these matters, they extortionate charges for even the smallest reasons from their clients. However, all these things will happen only if you allow them to. Most of the legal documents can be prepared by referencing the internet.
It doesn’t mean that you won’t be needing a lawyer at all. There are a few things that only a lawyer is capable of handling. During those scenarios, you should not feel hesitant or sloppy to read and discuss all the legal requirements of yours. Additionally, with a good level of negotiations, you can sort all your legal matters at a reasonable rate.
Lawyers Exploit Clients With Legalese
For people who don’t quite understand what legalese means – it is merely the technical or formal language in legal documents. Now, that’s ironic because none of us has experience with legalese. This is something that could be comprehended by a lawyer or advocate only.
Now, it opens the room for leverage. Lawyers are always tempted to take the leverage of this point. We all want simplicity and since we are not able to quite fully understand the legal points in the documents, we are on the verge of hiring a lawyer to get through all of that. In order to make the decision-making process we need legal opinions/documentation from the lawyer in the first place.
Let’s just say that we hold half of the blame. Only if we had given them room to take leverage of our gullibleness we wouldn’t have gotten exploited in the first place. Therefore, it is prudent to stay in contact with your lawyers now and then. Always keep them in the loop and discuss all your concerns with them.
Lawyers Deliberately Cause Delays To Leverage
The common misconception among most of the startup companies is that lawyers instead of facilitating the processing of the legal proceedings, deliberately delay it to mint more charges from the clients. This kind of activity causes the clients to be in a place of serious dilemma, and they end up making more payments to the lawyers to get things going.
The same legalese game has been played by the lawyers to harass the clients and make them pay more money to fasten up the process. They provide false reasons to trap their clients every time. There is no denial of this condition, but it does not happen every time. You can quickly fix this situation by conducting a meeting before signing up for any lawyer. Especially, discussing the minimum time constraints.
Conclusion All these myths have commonly happened in the past to all of us, and most of us could agree and relate to that. However, these scenarios are nothing more than the leverage of being ignorant and gullible. If you are vigilant and knowledgeable enough, you would never have to face such situations with any law firm.