Three ways startups can cut legal fees in half

A reader asks: We launched our company about six months ago, and we’ve been using a big Silicon Valley law firm to handle the legal work. The problem is, we’re getting killed with the fees. We just closed a $250,000 convertible-note financing, and the bill was almost $13,000. When I reviewed the invoice, I saw the partner was billing us at $740 an hour, a senior associate at $595 an hour and a junior associate at $350 an hour. We like them and think they’re doing a good job, but we just can’t pay this much for legal work. Could you please give us some advice on what to do?

Beware the hockey stick in your budget

(Editor’s note: Brad Feld is an early stage investor and co-founder of Foundry Group. This story originally appeared on his blog.)

Getting the most out of a bootstrapped IP budget

(Editor’s note: Cecily O’Regan is a registered patent attorney and member of the Intellectual Property & Technology Group at Greenberg Traurig LLP.  She submitted this story to VentureBeat.)