7 Tips for Saving Money with Your Attorney

Top 7 Tips to Save $$ with your Attorney

Juliet PetersFounding Partner

Becker Peters, PLLC

Tip #1:“Do it Yourself” Isn’t Always Low Cost

Context is Cost Saving.

Equity Issues

LLC CORPVS.

Tip #2: Know the Compensation Options

Compensate Founders› How much to pay them?› Do they have equity? How much?

Employees vs. Contractors Interns (paid vs. unpaid)

Compensation Options

Sweat Equity Vesting Transfer

Buy-BuyFor Cause Forfeiture

s

Compensation Issues

Tip #3: Short Term Thinking = Dollars Out the Door Later

Document Your Company Formation

Buy-Sell Language Provisions for Death or Divorce Different Classes of Units “Profits Interest” Language Valuation Formula Deadlock Provision

Your (LLC) Operating Agreement Must Have:

Tip #4:Identify & Protect your Intellectual Property

Technical Co-Founder

Outsourcing Your Development

In-House Development

Identify & Protect Your IP

Actively protect it

Trademarks

Patents

Trade Secret Protection

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IP Identification & Protection Options

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Tip #5:Make Sure You Own It

Technology Assignment Agreement or Exclusive License

• Broad as possible• Terms should be worldwide, right,

title or interest to company and forever (perpetual)

• Confidentiality • Ability to get injunctive relief• Strong Reps and Warranties

Ensure Your Ownership When Working with a Technical Co-Founder

Tip #6:Have the Right Contracts in Place

…from the Beginning!

Whether Outsourcing or Developing In-House

Development, Consulting or Work Made for Hire Agreements

Work Made for Hire but Cover Your Bases

Master Agreement with SOW Attached

Reps and Warranties, Indemnity, Insurance

Non-Disclosure Agreements

Non-Competes?

Bonus Tip: Have an Advisory Board

…and/or Technology Advisors

Tip #7:Hire the “Right Fit” Lawyer for You

INTERVIEW AT LEAST THREE EXPERIENCE—TECHNICAL,

BUSINESS PHILOSOPHY ASK FOR REFERRALS FLEXIBILITY VALUE

Finding the Right Lawyer

Juliet PetersBecker Peters, PLLCScottsdale, AZ

Juliet@beckerpeters.com480.214.9548

Thank You

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Get started on Tip #4 Today

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May Free Webinar: AVOID Litigation with attorney Maria Speth When: May 22nd from 11:30-12:30 PSTCost: FREEEmail with registration link to follow presentation.