1. Retaining an expensive “startup” specialist law firm actually saved us a ton of money

2. Yes.... The hourly rates were incredibly and ridiculously high However.... They helped us with lessons #2 and #3, earning us real money back in the end There is basically a “set price” for certain projects, e.g. series A, series B, selling the company, etc. Hourly billing isn’t the driver. They talked our language (abbreviated, get-to-the-point straight-talk) and didn’t chew up a lot of hours. I considered dropping everything to go back to law school.

3. Lawyers will work for FREE.

4. We are starting a company to offer XYZ We quit our jobs 3 weeks ago. The founders bios are XYZ We need a great law firm and a clean incorporation so that we can raise VC in about a year from now. We have no money to pay you. We would like to defer payment until after we raise money. And if we don't raise money, we won't ever pay you. SALES PITCH OUTLINE RESULT: We interviewed 6 firms. 4 said “Okay, let’s do it”. No risk premium! There is a “Silicon Valley Ethos”

5. GUNDERSON DETTMER The nation’s leading business law firm for entrepreneurs, emerging growth companies and venture capitalists. [email_address] Highly recommended! Ivan Gaviria