Why You Should Pitch a Lawyer Before You Pitch a Venture Capitalist

Why You Should Pitch a Lawyer Before You Pitch a Venture Capitalist

Sona Sulakian
 | 
Before you pitch a deal to potential investors, consider pitching a lawyer first, especially if this is your first deal. By pitching to a few law firms, you can test your idea and strengthen your pitch. You want to ensure that you pitch your idea to an attorney who focuses on startups and venture capital deals. A good startup attorney can hone your pitch, provide legal advice, and open doors in the venture capital world, all for perhaps no money upfront. Here’s four main reasons why you should practice your pitch with an attorney first. 

1. Ask for feedback
Startup investors hear thousands of pitches each year, so you want to make sure you pitch stands out from the crowd. Given the high risk of startup investing, investors often rely on unwritten rules to sift out promising investments. Lawyers work on countless deals each year, so they can provide informative feedback that can help set your pitch apart. A good startup lawyer can also provide market insight, including common pitfalls, financing terms, and strategy. 

2. Avoid legal landmines
An experienced lawyer can help you avoid any legal pitfalls, saving you expensive legal fees down the road. For example, a skilled attorney can draft your company’s governing documents, such as your Operating Agreement or Bylaws, to avoid future problems with investors. You want to ensure there are no conflicting clauses in these documents, and that these clauses are drafted to facilitate both current and future investing rounds. 

3. Ask for referrals
Lawyers frequently work with venture capitalists and other professionals. A knowledgeable attorney can advise you on how to approach particular investors and recommend which investors would be the best fit for your idea. Furthermore, ask lawyers if they can refer you to someone who can advise you on your specific idea. If you have specific individuals in mind, ask the law firm if they can make an introduction for you. 

4. Ask to defer fees
Larger law firms often defer legal fees for startups and entrepreneurs until the angel or VC investing round. However, fee deferral is an investment for the law firm, so you should ensure you have a polished executive summary and slide deck to ensure that law firms see your idea as a worthy investment. Smaller law firms may request an upfront payment of legal fees, which may be cheaper in the long run. 

Having a reputable startup attorney on your side may also signal to investors that your idea is a good investment. So before you pitch your first deal, use LawChamps to find an experienced startup lawyer that will strengthen your pitch and set you on the right track to secure investing. 


This article is intended to convey generally useful information only and does not constitute legal advice. Any opinions expressed are solely those of the author, not LawChamps.
 
Sona Sulakian

Find My Lawyer

Start by selecting your legal need:
Business / Employment

Business / Employment

Family / Personal / Injury / Immigration

Family / Personal / Injury / Immigration

Criminal Defense / Civil Rights

Criminal Defense / Civil Rights

Real Estate / Housing

Real Estate / Housing

Estate Planning / Power of Attorney

Estate Planning / Power of Attorney

Review & Rating Images LawChamps
LawChamps Reviews

"I was able to find just the right lawyer for my case. It was easy to use."

Lucy Coutinho

Client

Review & Rating Images LawChamps
LawChamps Reviews

"Very easy for me to get connected with an experienced attorney."

Robert Knox Jr

Client

Review & Rating Images LawChamps
LawChamps Reviews

"It was super easy. It was super fast and I got connected pretty quickly."

Lenasia Smalls

Client

Client Testimonial - Triso Valls
LawChamps Reviews

"It’s easy to register and match with a lawyer according to your legal [need]."

Triso Valls

Client

Ready To Get Started?

Find Your Lawyer NowLawChamps Arrow Icon

Related Posts

Musicians: Here's what to look for before signing a con...

Monzerrath Ortiz | 26 July, 2021

Most artists dream about receiving a record contract, longing for the moment they are approached by a well-dressed executive handing them a small card with their contact ...

Read More Arrow Icon

Teachers: What are your legal rights if you are too anx...

Mariam Sulakian | 18 July, 2021

A teacher suffering from Major Depression Disorder and Anxiety Disorder is hesitant to re-enter the physical classroom due to her disabilities, which are covered under th...

Read More Arrow Icon

How Businesses Can Navigate Mask Mandates

Carrie Pallardy | 22 June, 2021

Masks have been a critical part of preventing the spread of COVID-19. Now, the Centers for Disease Control and Prevention (CDC) has released guidance for fully vaccinated...

Read More Arrow Icon

Related Posts

Hire One, Help Another

LawChamps donates a portion of our revenue, investing it back into funding justice reform organizations and subsidizing the legal fees for those who cannot afford them.
Learn More