Archive for the ‘Lawyering’ Category

The paradox of law practice innovation

As those of you who know me know that part of what I enjoy the most about having my own legal practice is finding ways to innovate, including using technology more intelligently in the practice. I like practicing law, but the creative part of me really enjoys playing with new technologies or finding ways to […]

goodcounsel featured in Chicago Lawyer magazine article

Roy Strom, of the Chicago Daily Law Bulletin, was kind enough to interview me about legal services for entrepreneurial technology companies. The article is now out. Link below. Updated link: http://www.chicagolawyermagazine.com/Archives/2013/04/Tech-Companies-In-House.aspx  

Silly lawyer habits that can bite you in the $@#!

Take a look at the section below, from a contract a client gave me to review today. What is wrong with this picture? Found it yet? It’s at the end, where the words say “One Hundred Seventy Five Thousand Dollars” and the numerals say “$100,000.” Notice that this is not a small-change mistake. It potentially means […]

Lawyers as deadweight loss, Part II

I know it’s not front-page news that big law firms charge big fees. I should know; I worked at a couple of them. Still, I’ve been out of that world for a long time now, and one forgets. So, without naming any names, here’s a story: A startup client of mine recently secured a significant […]

the ups and downs of risk

I have young children, so I’ve been frequenting playgrounds over the last 8 years or so. I’ve noticed, during this time, that there’s an incredible degree of sameness to them. Something has homogenized our playgrounds. They are almost uniformly boring. One example: I noticed that a staple of the playgrounds of my youth, the see-saw, […]

the company you keep

Among the benefits of leading a small legal practice is that it keeps all of the relationships close and manageable. I know my clients well, and I serve them directly (not via associates, paralegals or other intermediaries). Larger law firms are, well, larger. This means that there are dozens, if not hundreds, of people affiliated […]

Lawyers as deadweight loss, Part I

Lawyers, like everyone else working for a business, need to add value. I see so much legal work, however, that adds no value whatsoever. The economics term for it is “deadweight loss.” The client might as well just take out a few  hundred-dollar bills and burn them. This blog post is the first of what […]

What are the essential ingredients of startup legal documents?

In developing a streamlined, cost-effective set of legal formation documents for startups (organizational, not funding documents), I have been giving a lot of thought to the essential areas that entrepreneurs/new companies need to cover. It’s not a huge universe. Here’s what I have come up with: Ownership split (if more than one founder) and vesting. […]

Even worse

In my last post, I made a comment about startups not needing 45-page LLC agreements. I guess there’s even worse being perpetrated out there. A friend, who also represents startups, reports the following: Apropos of your point, I am in the process of negotiating a 2-member, early stage operating agreement which spans 70 pages What […]