QUESTION
Can lawyers trade legal help for a percentage of a company. is it legal.
Asked on Mar 02nd, 2020 on Business Law - Colorado
More details to this question:
I'm starting a business that has to do with helping take drunk drivers off of the road. with it being a start-up my funds are limited.
1 ANSWER
An attorney who provided legal services in exchange for a share of your business would be entering into business dealings with his/her client. While this is not always prohibited, it does give rise to many ethical issues, particularly where the client is not represented by independent counsel in negotiating the business terms. MY guess is it will be difficult for you to find an attorney who would be willing to enter into such a relationshipk, particualrly with a start up.
Answered on Mar 02nd, 2020 at 3:47 PM