LegalZoom - For Capturing the True Spirit Driving Your Business Contracts
Pros
- Assurance that the business structure is established right, from the start because both successful growth and a successful exit are heavily dependent on which you choose.
- Objectivity: LegalZoom affords you access to a myriad of legal experts, so you do too. They review your business without the bias inherent in being a founder or executive management. The final decision is still yours, but it's a much better informed one.
- Agility: It's nearly impossible to keep up with all of the legislation, and interpretation of such legislation (case law) too quickly and an inhouse or even outsourced billable hour team whose goal is 'billable hour' is not objective either. Flat-fee pricing is the only answer.
Cons
- Critical initial selection of business model: LLC, Inc. Since this is the most expensive decision one can make, especially where the wrong one, I recommend insisting upon as much active engagement as possible in the very beginning to avoid the typical traps that might force a restart.
- Annual review is great, but I might recommend adding steps that encourage at least a mid-year review rather than wait for the annual.
- Honestly, we did have one issue with them where they had made an error and. much to their credit, they corrected it add their own expense.
Return on Investment
- Strenghtens our commitment to our strategic plan by the objective review, adding expertise in areas we were less aware of.
- Over threee years we've had several real-time discussions with a few of their experts and every one was extremely beneficial and insightful.
Alternatives Considered
Ariba Contract Management and ContractWorks
Other Software Used
Divvy, SeoSamba for Wordpress Enterprise, Justworks