what is The problem of the drunkard in a valley?

How much of a problem would it be dealing with investors to have a Silicon Valley startup attorney for a NYC startup?

  • When searching for an attorney that has experience in the type of law I need the result came up with the best being in Silicon Valley. The thing is my startup will be based on the east coast. How much trouble would it be to have your attorney in Silicon Valley when your startup is in NY? Does your Attorney have to be at every meeting?

  • Answer:

    There are three parts to this answer: the first is that legally, even if your company is incorporated in Delaware (which almost all fundable companies are) attorneys are admitted to practice law on a state-by-state basis, so unless the California lawyer you've found is also admitted to the bar in New York State, that lawyer will be risking the loss of his or her license to practice law just by working with you. That said, the second part of the answer is: assuming a lawyer is admitted to practice law in your state, "quality + experience" in a lawyer will always trump physical distance. So an investor in New York would have no problem with a professional, deal-making, experienced, NYS-admitted, venture attorney for a startup, even if the attorney was practicing from her weekend retreat on the Moon. That's because except in special circumstances, attorneys rarely are required to show up in person, and 98% of the time both you and your investors will be dealing with your respective lawyers on the phone or by email. Believe me, at $500 to $1000/hr, you don't want to pay a lawyer for one second more than you absolutely must! Finally, the third part of the answer is, "You can't find a good startup lawyer in New York? Say what?!" New York is not only the financial capital of the world, but it's also the second most active startup market in the US. Virtually every major venture law firm in Silicon Valley has a significant presence in New York, including , , , , , et al...not to mention world class venture lawyers at smaller firms, such as of Sedgwick Detert, who was voted best startup attorney in NYC last year.  Which means that it is virtually inconceivable that you won't be able to find a world class lawyer for your startup in NYC, no matter how arcane and niche-oriented the type of law is that you think you need.

David S. Rose at Quora Visit the source

Was this solution helpful to you?

Other answers

Generally, there are no glaring problems with this set up for your company. However, there may be some practical considerations you may want to keep in mind. From the onset, having a distant lawyer-client relationship could create a delay or miscommunication in regards to your legal matters. Also, you may have difficulty reaching your lawyer at certain times due to the time difference between the coasts, which may also cause some headache. Aside from the practical implications, there are really no major concerns otherwise. That being said, you should also be mindful that State laws vary, and a lawyer in Silicon Valley may not be as well-versed in NY law. Most likely, your CA attorney would have to spend additional time familiarizing themselves with NY requirements and laws, which could ultimately end up costing you much more money in the long run. To be honest, there is a huge market of highly qualified startup attorneys right in the NYC area. You should take a look at our site, http://lawtrades.com Here, you can connect with pre-vetted attorneys in whatever location you desire, and screen them based on price, expertise, experience, services, verified client reviews, and much more. You can connect with our attorneys 24/7, and can conduct a majority of your legal work through our platform (which is helpful if you are working with an attorney across the country). I completely understand that you have a lawyer you are already set on. I think it is extremely important to find an attorney that you feel comfortable and confident in. From the way it sounds, this CA lawyer fits your needs very well, and I encourage you to hire someone that "feels right." In the same instance, I would consider these few factors before making your ultimate decision: 1. Practicality: Can this CA attorney still give you competent legal representation from abroad? 2. Convenience: Will having a CA attorney cause unnecessary delay or become an added hassle? Many startups will work directly with their lawyers in the early stages, and this develops a close working relationship. It may be difficult to facilitate such an environment with an attorney not within reach. 3. Familiarity with NY law: Does this attorney have the requisite knowledge of NY law, or can they educate themselves on the topic without driving up your legal costs? As the founder of two different tech-based startups, I understand how important the early stages can be. Honestly, your attorney does not need to be at every meeting, but it is absolutely helpful to try to include them as much as possible. Having your attorney adequately informed about your business matters, and including your counsel in your team, can create a strong core business model that will receive the best guidance moving forward and be best fit to succeed. I hope this answer is helpful. I am always eager to help out fellow startups, so if there is anything else I can do, please don't hesitate to let me know. Best of Luck!

Raad Ahmed

While it wouldn’t *necessarily* be a problem to have a Silicon Valley startup attorney working for your company, I’m confident you can find an outstanding lawyer to meet your needs closer to your company’s homebase. Have you searched for an attorney through https://www.priorilegal.com/’s network yet? Many of the best startup attorneys in New York – including attorneys with loads of experience in niche industries - are members of Priori's network. We http://blog.priorilegal.com/priori-vetting-process/ our attorneys rigorously, and we only admit about 20% of the lawyers who apply to join our network. These attorneys have years of experience at the country’s top firms and, as a bonus, they offer a 25% discount to Priori clients as well as special flat fee packages.   You might find, too, that it is easier for you to coordinate meetings, leverage your lawyer's connections, and help your lawyer understand your startup if your attorney practices closer to the place your company calls home.

Basha Rubin

Related Q & A:

Just Added Q & A:

Find solution

For every problem there is a solution! Proved by Solucija.

  • Got an issue and looking for advice?

  • Ask Solucija to search every corner of the Web for help.

  • Get workable solutions and helpful tips in a moment.

Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.