How Venture Capitalists Keep Attorneys' Fees Down

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Venture capitalists are among my favorite clients. Whether the client is the firm or an individual or a portfolio company, they are often very good at keeping litigation costs down, relatively speaking. Here's how they do it.

1. Cut to the chase.

VC's tend to be time-constrained and face innumerable competing demands in their day-to-day business lives. They know how to have short meetings, short phone calls, and to cut to the chase. When you are paying your legal team by the fraction of an hour, these are valuable habits.

2. Learn the legal system quickly.

In most lawsuits, I have to learn a lot about my clients' business and they have to learn a lot about the legal system. VC's are used to learning about new things on short notice, and quickly come to terms with the strange game of litigation. The faster you can learn the game, the more likely it is that you can avoid spending money on strategies and efforts that are not likely to be worth it.

Originally published on VCExperts on May 16, 2013.

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Topics:  Attorney's Fees, Career Development, Legal Costs, Venture Capital

Published In: General Business Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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