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Boy, do you need a lawyer if you're setting up your own business! Even if you've given them a wide berth up to now in your life, you need the protection they can give if you're trying to attract a Business Angel. Angels will expect you to have properly protected your Intellectual Property, at least by applying for patents, trademarks etc. Angels will expect your Terms and Conditions to be watertight, not just something you adapted from someone else's (watch out on that one, there are easy ways to run plaguarism checks on the web and sue you for copywrite infringement!).
And although most Angels are lovely, they are experienced business people. So don't even think about signing a Shareholder Agreement they present you with, without getting it checked by a lawyer! Even better, have your own drawn up in advance.
We have partnered with a major law firm who are also very keen to help entrepreneurs in early stage businesses. If you get funding through Angels Den we can usually arrange for them to provide free legal service to get your Angel on board, including the Shareholder Agreement and Share Issue.
Edwards Angell Palmer & Dodge is a full service international law firm with offices in the UK, Hong Kong and the US. EAPD strives to create value by providing superior legal advice that is commercial, practical and designed to protect and promote the interests of their clients.
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