LawyerClock was created by a couple of twenty-something entrepreneurs in the Boston area, part of a venture-backed startup that's out to change the world. We created LawyerClock to show you how incredibly expensive your calls & meetings with lawyers really are. Some might call us modern day Robin Hoods of the startup world.
We were shocked after racking up over $100k in lawyer fees for our angel & Series A financings. Since then we've become supporters of using standard documents for Angel and VC rounds. A simple angel investment shouldn't cost $15k or more and a Series A shouldn't cost $100k or more.
We suggest reading the following articles for more information
- Fred Wilson: A Challenge To Startup Lawyers
- Quora: Why are lawyers so expensive even with the excess supply of lawyers?
- SeriesSeed: Standardized investment documents
- Founders Institute: Plain Preferred Term Sheet
You can contact us by email: LawyerClock@gmail.com