Cheatsheet: What legal service is right for your Vancouver startup?

Starting a business requires more than a great idea. 

Once you’ve come up with your product and picked your name, it’s time for the hard stuff. First, you’ll need to cover off legal incorporation, shareholder agreements for the founders, vesting agreements for each leader, consulting agreements, and employee agreements. And then you’ll need to think about IP protection, how to handle taxes, data privacy and web hosting questions, and a number of other issues specific to your sector. That’s even before you address the legal requirements for raising capital, or planning an exit for your business. 

If that sounds like one big headache, it’s more than worth hiring someone qualified to help. It’s possible to do lots of the early work yourself, and some entrepreneurs think they can save fees by taking on the paperwork themselves, but lawyers that specialize in tech startups often have off-the-shelf templates that will help you avoid paying for counsel to review or correct your attempts. Plus, they’re able to ensure that you’re filing under the right jurisdiction, and with the right terminology.

Good news: law firms that deal with startups generally understand that you likely won’t have much cash up front — founders are just getting their business off the ground, after all. Legal offices often have some flexibility on payment terms, such as deferring for a few months until founders get some investment, such as angel cash, a government grant, or a SR&ED claim. Remember: it’s completely acceptable to ask for a quote or fee cap if necessary. 

Here are five of the top Vancouver-based law firms that can help your tech startup get off the ground, and why you should pick them.

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