There’s a sentiment among startup founders that lawyers get in the way of creativity. But there are, in fact, a lot of good reasons for startups to bring in a lawyer early, according to a recent Harvard Business Review article by Daniel Doktori, chief of staff and general counsel at Credly, and Sarah Reed, chief operating officer and general counsel of MPM Capital.
A lawyer on the early startup team can help navigate common setup requirements, such as tax filings and intellectual property ownership agreements. But just as important, a lawyer can contribute by asking the right questions at the right times. “Counterintuitively, lawyers can add the strategic absence of knowledge,” write Doktori and Reed. “Having a lawyer on the early team contributes to data-driven, analytic culture of thoughtful decision making.”
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