David von Rosen wrote an article for Sifted in which he argued the majority of a startup's legal work can be completed in-house, without a legal expert.
David argued that covering legal work themselves in the early stages can be one of the most effective strategies founders can take for bootstrapping a business end-to-end.
He explained that most of the legal groundwork can be researched online and that by doing so, founders can keep costs down so they can invest in other vital aspects of their business. Gaining a principled understanding of their basic legal obligations is also useful in itself and will benefit founders, he noted.
“Do the legal groundwork yourself to ensure you’re not managing your startup blind, you’re well-represented when the time to speak with a lawyer comes and you’re keeping costs low to hit profitability sooner.”
Dr. David von Rosen
In the article, David also recalled the details of how he managed to negotiate a legal fee when founding Lottoland, by taking a lot of the legal work on himself. This story evidenced his argument for founders doing their own legal work when they're starting out.
For the full article, follow this link.
