Invest in Startup Forum
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Anonymous Posting
Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
Failure to follow these rules will get you outed, warned, or banned.
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umichman
- Posts: 363
- Joined: Sun Nov 03, 2013 11:56 am
Invest in Startup
I am an associate at a big law firm. Can I invest in my family member's new start up and be on the board of the company? Do I need to reach out to someone at the firm to clear it? Will I likely be precluded from doing this by the law firms policy or something?
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Ultramar vistas
- Posts: 320
- Joined: Sat Jul 29, 2017 11:55 am
Re: Invest in Startup
Re: being a board member, there is definitely a handbook that was given to you during orientation and is also located on the DMS that covers this either with enough specificity to answer it without further question, or which will direct you to the right person at your firm to ask.umichman wrote: ↑Thu Jan 07, 2021 8:32 pmI am an associate at a big law firm. Can I invest in my family member's new start up and be on the board of the company? Do I need to reach out to someone at the firm to clear it? Will I likely be precluded from doing this by the law firms policy or something?
Re: investment, almost certainly fine.
No one on this forum can give you the comfort you need to proceed though; you should just ask the right people. If you’re mature enough to sit on a board, you’re mature enough to email the firm’s in house legal team to double check.
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Sackboy
- Posts: 1045
- Joined: Fri Mar 27, 2020 2:14 am
Re: Invest in Startup
You should reach out and ask. Every firm has a different policy. We can't tell you anything useful.umichman wrote: ↑Thu Jan 07, 2021 8:32 pmI am an associate at a big law firm. Can I invest in my family member's new start up and be on the board of the company? Do I need to reach out to someone at the firm to clear it? Will I likely be precluded from doing this by the law firms policy or something?
