Startup Lawyer in Chicago — Legal Counsel for Startups
Startups face unique legal challenges that require forward-thinking legal counsel. At Liberum Law, our startup lawyers in Chicago advise founders from inception through growth and fundraising, providing the legal infrastructure that scalable businesses require.
Our startup counsel services include entity formation and structuring optimized for investment, founder agreements including vesting schedules and intellectual property assignments, equity incentive plan design (stock options, restricted stock), convertible note and SAFE agreement review, seed and Series A financing documentation, terms of service, privacy policies, and regulatory compliance, and intellectual property protection strategies.
We understand that startups operate under resource constraints. Our attorneys provide practical, business-focused legal advice that addresses immediate needs while building toward long-term goals. Contact Liberum Law for a free startup consultation.
Frequently Asked Questions
What does startup counsel cover?
Entity formation, founder agreements (vesting, IP assignment, roles), employment and contractor agreements, equity plans (option pools, stock plans, 83(b) elections), customer/vendor contracts, terms of service and privacy policies, fundraising documents, and corporate governance.
When should a startup hire a lawyer?
Before incorporation — to set up the right entity, founder vesting, and IP assignments. Many costly mistakes happen pre-incorporation (no IP assignment, equity splits that don't reflect contribution, missed 83(b) elections). Liberum Law offers fixed-price startup packages designed for this stage.
What is founder vesting?
A schedule requiring founders to earn their equity over time (typically 4 years with a 1-year cliff). Protects the company if a founder leaves early. Without vesting, a co-founder who quits month 2 keeps full equity. Standard for any startup with multiple founders or planning to raise.
What is an 83(b) election?
A tax election for restricted stock grants — letting you pay tax on the value at grant (usually low) rather than at vesting (usually higher). Must be filed with IRS within 30 days of grant. Critical for founders and early employees with stock vesting; missing the deadline costs significant tax dollars.
Do you handle fundraising documents?
Yes — SAFEs, convertible notes, priced rounds (Series Seed, Series A, etc.). We represent both companies raising capital and investors. Standard templates from Y Combinator, NVCA, and Cooley are starting points; we customize for specific terms and Illinois law.
