Top rated SaaS contracts drafting lawyer Andrew S. Bosin LLC offers experienced SaaS Agreements, contracts, licensing drafting review legal services. Please contact Andrew for a free consultation at 201-446-9643 | firstname.lastname@example.org.
With offices in New Jersey Andrew runs a nationwide SaaS Law Firm providing big law firm legal advice and services for affordable, fixed rate SaaS legal fees packages to SaaS startup companies, resellers, Delaware C Corporations and entrepreneurs across the US in Nashville, San Jose, CA, Phoenix, Washington DC, Boston, Atlanta, Tampa, Long Island, Orlando, Dallas, Silicon Valley, Columbus, Ohio, New York City, Austin, Pittsburgh, Salt Lake City, Charlotte, Houston, San Diego, Rochester, Cleveland, Las Vegas, Chicago, Oklahoma City, Denver, Connecticut, Kansas City, Los Angeles, Miami, Albany, Raleigh, Indianapolis, Cincinnati and Buffalo.
At the end of 2012, after more than 20 years of practicing law in several large New Jersey law firms Andrew decided to make the jump to owning his own law and also becoming an entrepreneur. Shortly thereafter, Andrew was approached by a client to see if he could help get a SaaS startup off the ground and become its General Counsel. Fast forward 9 years and it was the best decision Andrew ever made in his business career.
Andrew envisioned having a law practice where he could provide quality legal representation to startup companies and entrepreneurs, in a cost-effective and efficient manner. Andrew’s firm combines the experience of a large law firm partner with the insider’s knowledge of a startup general counsel and business judgment of a company director and startup co-founder.
In the beginning, startup companies typically need help with business entity selection and formation/incorporation, help with drafting founders’ agreements and assignment of intellectual property to the company. Typically, that necessitates the forming of a Delaware C-Corporation. As the company starts to attract customers, startups need assistance with contracts, employment matters, capital funding/raises and more help protecting their IP. Generally, Andrew can assist with all of these things, and should something be outside of his capabilities, he can usually provide his clients with introductions to other professionals and businesses who may be able to assist them.
Andrew regularly represents startup companies seeking capital, as well as angel and other investors thinking about investing in startups and other emerging growth seed stage companies. Andrew also helps with structuring, negotiating and closing such investment deals.
Top Rated, Five-Star SaaS Contracts Lawyers Reviews, Ratings and Testimonials Offered By Satisfied Clients are located on the Andrew S. Bosin LLC Google My Business page.
Please call Andrew for a free consultation at 201-446-9643 | email@example.com.
What Entrepreneurs Should Expect When Joining or Starting a SaaS Company?
Some of the takeaways that Andrew learned from building and scaling a SaaS startup with partners Is that if you don’t have a sufficient amount of capital or you yourself or one or two of your partners have not gone through the startup grind and sold their company,. Building, launching and scaling a SaaS company is going to take you much longer than you think. You’re also going to need a lot more money than you think to not only build and scale your company but develop a robust application or product. You are likely also going to struggle at first through the sales and marketing processes as selling and marketing SaaS software to Enterprise clients is difficult and exhausting.
What Andrew also learned is that the term “start grind” really does exist and that you need to find a way to deal with the ups and downs, the successes and the failures and the flat-out grind of working in a startup. A startup is not a sprint; rather, it’s a marathon and you need to be able to balance your work life with your family life and realize that your startup might not make it and that’s okay also. 90% of startups fail for a reason. The biggest reason is probably lack of money or the ability because of lack of experience to fundamentally understand just how much money your startup will actually need to survive and prosper.
Building a SaaS business is not a one person job
Anyone who thinks that they can create, build and scale a SaaS business has never tried to do software development, sales, marketing and closing deals by themselves. It takes talented individuals to have a chance collectively to build a successful SaaS business. With that said, finding co-founders should not be done in haste. Because being in a startup is analogous to a marriage you want to make sure you have the right fit with your partners. You need to take your time choosing your co-founders and make sure you get along with them not only personality wise but also in the area of sharing the same vision of how you see your company building and scaling and executing on its business plan. You don’t want to be in a position down the road where you want to take the company in one direction and your co-founders see it differently.
You Have To Put Your Ego Aside When You Join a Startup
When you put more than two or three individuals in a company that needs to grow to become successful and everyone has their opinion about how to make it happen eventually somes egos are going to get in the way. Ego can destroy a startup and cause founders to leave and get discouraged. How can you assess if the egos in the room will either tear the company apart or bring about success?
If you have had a few meetings and discussions with some individuals about joining a startup it is really important to learn why some of them have ego problems and maybe it’s not a bad thing. The bad would be if half the group talked all day and night about how much money you’re all going to make yet the software application you have all discussed has not yet been built. And, none of the co-founders have any track records to speak of in terms of building and scaling other startups. After a while, all of the egos in the room are going to get pretty loud. This might not be a startup you want to join.
Building a SaaS business requires a lot of hard working people
Anyone who believes that they can build a SaaS company by themselves or with one other person has never tried to do sales, marketing, software development or business development by themselves or with one other person. It takes a lot of hard working people just to have a chance to actually build a successful SaaS business. With that said, finding co-founders should not be done in haste. Because being in a startup is analogous to a marriage you want to make sure you have the right fit with your partners. You need to take your time choosing your co-founders and make sure you get along with them not only personality wise but also in the area of sharing the same vision of how you see your company building and scaling and executing on its business plan. You don’t want to be in a position down the road where you want to take the company in one direction and your co-founders see it differently.
Make Sure Before You Join or Start a Startup That The Company or One of the Founders owns all of the Intellectual Property
Before joining a startup if someone in the group has invented or created software or technology product is to use it, test it, evaluate it and see whether or not it is something that customers would use or purchase.
If you believe that the company’s product can provide value in the marketplace and you also have evaluated the other partners, founders or talent it is a good idea to have discussions with your potential future partners about incorporating the company. One of the reasons why the company should be incorporated is so that agreements can be drafted and negotiated dealing with the issuance of stock but also equally important that agreements be signed by all of the founders or shareholders who own all of the intellectual property stating that all of the IP will be assigned to the company. Why this is important is because you don’t want to be spending or putting in thousands of hours of time into a company if the IP is not locked down with the company owning it. The last thing that you want to have happen is for a shareholder / founder who owns all of the IP to leave the company and take all of the IP with him or her. Not only will this cause in all likelihood the destruction of the company it will leave all of the investors very angry and essentially holding the bag. It is unlikely that any serious investor would take the risk of putting capital into a startup unless agreements were signed stating that the company owned all of the intellectual property and that the IP had been assigned to the company by the shareholder / founders.
What if find out that the company is using IP created by an individual outside the company or another company? Does the startup have written permission from the owner of the technology to use it? If not, the startup runs the risk of being sued and you don’t want to be an owner of a startup getting sued for infringing upon the IP rights of another company.
You are also under no circumstances to give away your IP, trade secrets or confidential information to potential partners for free, without a formal agreement executed between everyone memorializing that you own all of the IP. Andrew has spoken to countless entrepreneurs who made the mistake of allowing others to use his or her IP under the promise of incorporating or forming a company because everyone was in a “hurry” to get the startup going. No entrepreneur should start or join a startup and allow the company to use their intellectual property unless they have first memorialized in writing that they own the IP. You need to be protected so that if anything goes wrong with the startup it says in black and white that you own the intellectual property that you brought into the company.