Introduction
The legal function is at once familiar (thanks, People’s Court!), and exotic. An entrepreneur needs at least a basic familiarity with the laws that impact their business, and in biotech, that includes (but is certainly not limited to) intellectual property, contracts, and mergers and acquisitions. Many other areas of law will impact your business, from labor to tax to international law, so while even large companies have generalist attorneys in-house, essentially all companies maintain relationships with one (or often more) law firms. Your legal bills will likely be your largest expenditure after salaries and research. This is because the issues are typically both complex and important. As an early entrepreneur, seeking out an entrepreneur-focused law firm that will work with you through your early growth and is fully familiar with the challenges you’ll face can be a great advantage.
Resources