March 19, 2024

Don’t be cheap on legal!

Don’t be cheap on legal!

If you want unclear legal documentation, full of typos and logical mistakes, fragile contracts, hire the cheapest lawyer in town, or take an unlimited subscription to a magical legal service.

Otherwise, if you want robust contracts, sharp legal documentation, just pay for quality. Like everything in the world, high quality stuff is not free.

Being cheap on legal will cause long term damages to your organization.

What’s even more worse is that it will be extremely difficult to revert, as it will NEVER be your priority to revamp old contracts to make them lighter, cleaner, more understandable, more robust. You will ALWAYS have something more important and less boring to do first.

It’s the kind of thing that you must do properly from scratch.

❗ 𝗙𝗶𝗻𝗱𝗶𝗻𝗴 𝗴𝗼𝗼𝗱 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹𝘀 𝗼𝗻 𝗹𝗲𝗴𝗮𝗹 𝗺𝗮𝘁𝘁𝗲𝗿𝘀 𝗶𝘀 𝗲𝘅𝘁𝗿𝗲𝗺𝗲𝗹𝘆 𝗵𝗮𝗿𝗱 𝘁𝗵𝗼𝘂𝗴𝗵.

Not being cheap on legal ≠ spending tons of money on bad lawyers.

To my humble experience, the best way to do this wisely is:

1. ask the smartest people around you for referral when you are looking for a good lawyer on any specific topic

2. be transparent from the beginning about what you expect from them, the way you want this to work, and the tools you want to use

3. review the documents prepared by your lawyer!! make sure they are relevant, free of typos, free of logical errors, free of useless paragraphes that make the contracts too long for no reason.

4. give them feedback and if it is not taken into account several times in a row, just change lawyer.