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[Anonymous User]

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[rpupkin]

People are generally free to draft and enter into agreements without consulting a lawyer. That's still true when one of the parties happens to be a law student. There's no problem, for example, with a law student revising a portion of a residential lease agreement between the student and his landlord.

So long as you're not representing to your co-founders or the investor that you're a lawyer, and so long as you're not saying shit like "I have enough legal expertise to draft these contracts because I'm a law student," I think you're probably fine.

Also: under no circumstances should you suggest that you're drafting the contracts *for* the investor. You'll draft the contracts with your co-founders, and then you'll circulate the proposed language to the investor. If the investor agrees to the language without consulting his own lawyer, that's his (questionable) choice. By the way, if I were you, I'd want a real lawyer—a lawyer who works for you and your co-founders—to review the contracts you draft.

[dabigchina]

Is he still allowed to if he's drafting stuff on behalf of his company? His post wasn't quite clear on who the parties would be.

[RaceJudicata]

Is he still allowed to if he's drafting stuff on behalf of his company? His post wasn't quite clear on who the parties would be.

Say you--law student-- and your brother start a lawn mowing business. You want to sell your services to your neighbors. Your brother isn't too bright, but is excellent at mowing lawns. So you offer to draw up the contracts (assuming lawnmowing businesses have contracts) that your neighbors (read: customers) are going to sign. Being entrepreneurial, you even set up an LLC for the business.

In this scenario, do you think you are participating in the unauthorized practice of law? Hell no.

That said, Rpupkin is right -- OP can't hold himself out as an attorney or draft docs "for" the other side...but he certainly can draft contracts -- as can any person in the US of A -- Regardless of their status as a law student.

Now if the business progresses, its of course wise to get a real attorney to do this work...but its certainly not the unauthorized practice of law..imo.

ETA: If you read the first sentence of ABA model rule 5.5, it says "A lawyer shall not.." OP isn't a lawyer.

[RedGiant]

I feel strongly that this poster is missing the forest for the trees, which does not bode well for his issue-spotting in said venture contracts (but I digress). The issue isn't UPL. It's that you don't know enough about the nuances of venture law or private company financing to even know what is market or what is missing! THIS is the issue you should be focusing on! Here, you're getting what you paid for.

[Anonymous User]

OP here. Thanks for the above replies. I actually have a unique situation here, but I already figured out what I should do next.