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Nashville Startup Lawyers
Why Hire a Startup Lawyer?
Startups face an array of legal issues, from determining a business structure to dealing with contracts to raising funds. Find out why you need an experienced startup lawyer in Nashville to answer your legal questions and why hiring a top attorney can set up your business for success down the road.
Even if your startup has a small budget, you need an experienced lawyer. The best startup attorneys in Nashville know the types of challenges you face as you build your company from the ground up. You can rely on their expertise to deal with legal issues while you put your energy into making groundbreaking products and raising money.
Knowledgeable startup lawyers in Nashville can also create a clear path for your company to grow and move forward. With this type of strategy, you can plan for the future instead of dealing with major problems as they arise. The best startup lawyers also have knowledge in the following areas:
- Choosing a Business Structure: From corporations to limited liability companies (LLCs) to limited liability partnerships (LLPs), each business structure offers different legal and financial benefits. For a startup, choosing the right business type can mean the difference between taking on investment partners or having shareholders.
- Forming a Delaware C Corporation: Many startups choose to form C corporations in Delaware, due to the flexibility they offer. A knowledgeable Nashville attorney can advise whether this is the right choice for you. A lawyer can also help you navigate the tax schedule and file the necessary paperwork.
- Raising Venture Capital: Searching for investors and raising funds are essential for most startups. Depending on the progress of your company, you may need legal advice related to raising seed money, Series A funding, or later funding rounds. An attorney can walk you through paperwork and contracts before you make final decisions.
- Protecting Your Intellectual Property: If you're developing new technology or building a global brand, you need to protect your intellectual property (IP). A top attorney can advise about trademark registration or help with filing patent applications. Startup lawyers can also help with protecting your IP through automated monitoring, cease and desist letters, or litigation as necessary.
How to Find the Best Startup Attorney in Nashville
To start evaluating the best startup attorneys in Nashville, make sure that any you're considering are licensed to work in Tennessee. To practice law in the state, lawyers must have a J.D. degree and pass the Tennessee Bar Exam. They also have to undergo a character and fitness assessment administered through the National Conference of Bar Examiners.
Before hiring a Nashville startup lawyer, make sure he or she doesn't have any grievances or malpractice complaints. Do this by searching the Board of Professional Responsibility of the Supreme Court of Tennessee. This database is available to the public and can reveal ethical concerns you need to know before making a hiring decision.
Members of the Tennessee Bar can work for larger firms, set up solo practices, or work as in-house counsel. Since Tennessee is home to several Fortune 500 companies and startups with big aspirations, Nashville is home to many startup and business-focused lawyers.
To choose the top startup lawyer for your business, make sure he or she is a good fit for your company. Don't forget to assess the following:
- Industry Knowledge: You wouldn't hire a business advisor who had no experience in your industry, and there's no reason to hire an attorney with little industry knowledge, either. With so many startup attorneys to choose from, one of your top priorities is hiring a knowledgeable lawyer who knows the challenges your industry faces and how to help you address issues efficiently and inexpensively.
- Understanding of Your Timeline: Since Nashville is becoming a hotspot for entrepreneurs, both startup executives and experienced lawyers tend to stay busy. Make sure any lawyer you hire understands your company's deadlines and growth timeline and can work on your schedule.
Questions for Startup Lawyers
- How many startups have you worked with in my industry? How well do you understand what we do?
- Do you typically work with early-stage or mature startups?
- What other startups have you worked with in Nashville? Can I call them as references?
- What is your fee structure? Do you offer deferred billing for startups?
- Will you work with my company, or will an associate or paralegal communicate with us?
- Can you refer us to specialists if we need focused advice on fundraising, tax status, or intellectual property?
- Do you consider yourself the best startup lawyer in Nashville? Why?
Whether you need help raising funds or you want advice about choosing a business structure, an experienced lawyer can help. Find the top startup attorney in Nashville, and make sure that your company has the legal help it needs.
Why use UpCounsel to hire a Nashville Startup Attorney?
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Legal Services Offered by Our On-Demand Nashville Startup Attorneys
On UpCounsel, you can find and connect with top-rated Nashville startup attorneys & lawyers that provide a range of startup law services for startups and entrepreneurs that are starting a business. Any of the top-rated Nashville startup lawyers you connect with will be available to help with a variety of your startup law related legal needs on-demand or on an ongoing basis in the city of Nashville, TN.
From primarily dealing with things like business formation, contracts, leases, equity financing, securities, and intellectual property protection, the Nashville startup lawyers on UpCounsel can help you with a variety of specialized and general startup law related legal matters. No matter what type of startup law needs you have, you can easily hire an experienced Nashville startup lawyer on UpCounsel to help you today.
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Paid in Capital
- 4 min read
What Is Paid-In Capital?
Paid-in capital (PIC) is the amount of capital investors have "paid in" to a corporation by purchasing shares in exchange for equity.
A paid-in capital account does not show the individual contributions of each investor, just the total amount provided by all investors.
The primary market is the part of the capital market that issues new securities. It is through the primary market that people invest in a corporation by purchasing stock, raising the corporation's PIC figure.
Stock purchased in the open market from other stockholders (secondary market) does not affect paid-in capital.
Additional Paid-In Capital
Paid-in capital can also refer to a balance sheet entry, often listed under stockholder's eq
- 8 min read
Updated October 15, 2020:
Reverse Vesting: What Is It?
Reverse vesting occurs when a company's co-founder receives his or her shares and ownership interest upfront. This exchange is subject to vesting similar to employee stock options. If the co-founder leaves, the company may repurchase a set amount of those shares.
The founder already owns all the shares with reverse vesting and may be forced to sell a specific percentage of them for no profit if the complete vesting period hasn't been finished. Reverse vesting is a term used to define a specific situation where an independent contractor or an employee gets stock that's subject for the company to repurchase at-cost. The right to repurchase lapses the vesting period.
This is the opposite of a normal situation, where a provider for a service gets the right to buy stock or an o
Forming an LLC
- 8 min read
What Is an LLC?
Forming an LLC provides certain tax protections. Your business is still tied to your personal taxes, but you file all business expenses as deductions.
A limited liability company, or LLC, is a type of private company that is formed to reduce the personal liability of the owners. Since it first became available as an option, the LLC, or Limited Liability Company, has been increasingly attractive to entrepreneurs due to the protections it offers. It's much simpler to set up and much more flexible than a traditional corporation, but it still provides a liability and tax shelter in terms of protection of your personal assets. It's
- 5 min read
What Is Legal Entity?
A legal entity refers to a legally standing or lawful partnership. That partnership could be an association, a trust, a proprietorship, a corporation, or an individual. All such entities are legally able to be accountable for activities against the law, enter contracts or agreements, incur and pay back debts, be sued and sue other entities, and assume obligations. While legal entities are able to do many things, a legal entity cannot hold office or vote.
Legal entities are frequently seen in scenarios and instances where an individual can take a class-action lawsuit against a company or the manufacturer that supplies the products for a company. Another scenario where the term "legal entity" applies is when every member of a band si
Non-Qualified Stock Options
- 5 min read
Updated October 28, 2020:
Non-qualified stock options give you an alternative way of compensating employees. They also give employees a sense of ownership that builds loyalty and encourages them to work harder.
Non-Qualified Stock Options: What Are They?
A non-qualified stock option gives employees the right to purchase company stock at a predetermined price. There are several key elements to a stock option.
Grant date: The date when the employee r