I recently joined a small (three person) tech startup as a cofounder. We're all in our mid twenties and none of us have any legal experience, startup related or not.
I bought a book on startup law and have been reading it to try and get a better grasp on things. Early on in the book, the author makes a compelling case for why individuals who have never incorporated before should hire a lawyer to do it for them, because the risk of making an error that'll be costly and difficult to fix down the line is high. I wanted to see what this community thinks before taking the author's words as gospel, though.
When you incorporated, did you do it on your own or did you hire a lawyer? If you did it on your own, how did you ensure the paperwork was done correctly? Are there instances where you think founders really should rely on a lawyer? None of us are in a position financially to spend a few thousand dollars on legal fees, although I do have connections to various lawyers through friends and family that I could explore. Whether or not anyone would be willing to assist either as a personal favor or in exchange for equity, I have no idea (I'm under no delusion that this would be remotely feasible with a complete stranger).
Any advice would be much appreciated. Thanks!
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