Startup inhouse vs. small law firm - which one is better for emerging companies practice?

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Startup inhouse vs. small law firm - which one is better for emerging companies practice?

Postby Anonymous User » Tue Apr 25, 2017 1:44 am

I want to serve emerging companies, VC, etc at a larger law firm but I struck out at OCI and will graduate soon.

I have two options: working at a startup (like 3 employees!) and small law firm (3-10 attorney law firm, business law (contract, RE, employment, etc) in general). I also worked in new biz dev prior to law school.

Which option would be better to transition into a bigger law firm's emerging companies practice in a few years?

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Re: Startup inhouse vs. small law firm - which one is better for emerging companies practice?

Postby Anonymous User » Tue Apr 25, 2017 2:03 am

If there is an older experience attorney to mentor you in the startup you could go that way.

If not. Small firm. You gotta learn to lawyer before anything else.

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Re: Startup inhouse vs. small law firm - which one is better for emerging companies practice?

Postby Anonymous User » Tue Apr 25, 2017 7:28 am

Startup if you believe in the company and team. Learn as you go - ask people questions, ask people for favors. Focus on a small niche where you can read everything about it online (i.e. IP for SaaS or whatever your company is doing). Download every good form IP/CORP document you can for guidance.

Do not goto the small firm unless the $$$$ difference is significant.

s1m4

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Re: Startup inhouse vs. small law firm - which one is better for emerging companies practice?

Postby s1m4 » Tue Apr 25, 2017 1:49 pm

Hey, I do emerging companies at a very small firm in Cali. PM me if you want to talk.

oblig.lawl.ref

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Re: Startup inhouse vs. small law firm - which one is better for emerging companies practice?

Postby oblig.lawl.ref » Tue Apr 25, 2017 2:30 pm

Yeah, I would be wary of the startup. At that size not much is guaranteed. I would take the small firm most likely. If you maintain good relationships with the startup, maybe you can join later? Also, as others said, you gotta learn the basics first.

foregetaboutdre

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Re: Startup inhouse vs. small law firm - which one is better for emerging companies practice?

Postby foregetaboutdre » Tue Apr 25, 2017 2:44 pm

Anonymous User wrote:I want to serve emerging companies, VC, etc at a larger law firm but I struck out at OCI and will graduate soon.

I have two options: working at a startup (like 3 employees!) and small law firm (3-10 attorney law firm, business law (contract, RE, employment, etc) in general). I also worked in new biz dev prior to law school.

Which option would be better to transition into a bigger law firm's emerging companies practice in a few years?


Is anyone at the startup a lawyer? Also does anyone make ANY money?

I would be extremely wary of working as an attorney for a startup with no legal experience or guidance. Unless you can hire outside counsel for literally everything, I'd be scared of really fucking something up.

SFSpartan

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Re: Startup inhouse vs. small law firm - which one is better for emerging companies practice?

Postby SFSpartan » Tue Apr 25, 2017 2:51 pm

On its face the startup sounds exciting. However, unless there's another attorney working for that startup, I would avoid. As a new attorney, you are basically a malpractice machine, and you need a senior attorney to keep you from getting yourself in a crock of shit.

I'm an EC/VC attorney at a mid-size law firm. Feel free to ping me for a more thorough analysis.

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Re: Startup inhouse vs. small law firm - which one is better for emerging companies practice?

Postby Anonymous User » Tue Apr 25, 2017 2:58 pm

I'm in this field but at a small firm.

ANYONE can make a startup. You literally create an entity and you're a startup. There are literally thousands of startups out there, most of which are failing. You need to differentiate between an ordinary startup and a VC backed start up, which actually has resources and mentors who can actually train you. I'm guessing the startup you're going to is probably early early stage, and are probably offering you equity with little or no cash compensation?

You will most definitely not receive any training at a startup, and everything you need to learn will be self-taught. As a junior lawyer, you don't want to be in that situation. Also, you most likely won't be doing only legal work at a start up. You'll be doing a little of everything (it's inevitable). If you want to go to a big firm, you should be more focused on honing your legal skills rather than being distracted with a thousand different business decisions.

I'd choose the small firm if you want to be a lawyer. If you want to be an entrepreneur, go to the start up.

There are exceptions, such as if there is an older attorney and the startup is heavily reliant on legal issues or transactions.



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