How to find a startup lawyer in Spain?
When launching a company in Spain or importing a foreign project it is key to have specialized legal advice. However, finding a Lawyer for startups in Spain may not be easy if you do not know the investment ecosystem.
That’s why legaltech companies are a very interesting option among entrepreneurs. They are companies specialized in the legal sector, that help through the intensive use of new technologies, to find efficient solutions to any legal need.
As an example, in LexGo App we have helped hundreds of startups to take their first steps, to strengthen their operations or to start properly in Spanish territory. Thanks to our hundreds of collaborators we have been able to design specific solutions for each client. And through digital tools we have been able to provide service throughout Spain, both for national and international clients.
Do you want to know how to find the best specialist for your project? Pay attention to our advice or fill in the form so that we can immediately set you up with an office with experience in your sector.
Are there good lawyers for startups in Spain?
The legal sector tends to be quite a traditionalist. This leads many entrepreneurs to meet with business advisors whose way of working does not quite match their expectations.
Today's fact is that we are in the midst of a digital revolution. New business projects are increasingly dependent on intellectual and industrial property rights, information and communication technologies, big data, and artificial intelligence...
New technologies require a novel approach to law. The legislator is often unable to react in time to changes in the sector, so the legal framework may fall short if it is not interpreted with some flexibility.
This is why it is often not enough for a legal advisor to have experience in corporate law, accounting, tax advice, and labor law. A startup advisor must also be familiar with the entrepreneurial ecosystem, international trends, and new forms of raising capital and commercial exploitation. They must be aware of the latest regulatory framework, compliance techniques, innovative forms of organization, etc.
Fortunately, in Spain, there are more and more professionals who are up to the new challenges. Some firms have already specialized in the startup sector. Nowadays, it’s possible to find small firms and even independent lawyers who can provide the best assistance to startups trying to solidify their presence in Spain.
How can I check the competence of the chosen firm?
With the increase in the range of specialized legal services on offer, it is easy to wonder how to find the best firm. At LexGo App we have developed some good solutions.
As an example, in our legal directory you can check your lawyer's track record, including the opinions of previous clients. We know that when choosing a law firm it is essential to check its history and its success and satisfaction rate.
You can also hire our advisory services directly. As specialists in the entrepreneurial ecosystem, we can put you in touch with the best professionals in each sector.
But if you prefer to look for a Lawyer for startups in Spain on your own, the best thing to do is to take these two tips into account:
A good startup lawyer should know the new ways of financing
Whatever stage you're at, your startup is going to need financing. But, indeed, a project in the seed or pre-seed phase does not have access to the same financial resources as one in advanced phase or exit.
Traditional advisors have a solid knowledge of the basics of corporate law. They can help you choose the best legal form for your project and how to increase or reduce its capital, introduce or exclude partners, participate in mergers and acquisitions...
But an advisor who works specifically with startups also knows about alternative forms of financing. Proper equity management will be essential to retain control of the project while nurturing it with capital. And lawyers specializing in this sector will know how to raise funds while maintaining an appropriate proportion of control of the company.
Besides, you will know the main incubators and accelerators and will be aware of the call for aid, grants, and competitions.
Finally, startup lawyers in Spain are specialists in raising funds through Initial Coin Offerings, Crowdfunding, Crowd Lending, Venture Capital, and other alternative financing channels to bank credit circuits.
Also, you must be familiar with the business ecosystem
Regardless of the legal knowledge your lawyer has, he must know the Spanish business ecosystem. To guarantee the success of your project you must be aware of the financial transactions of competitors and investors.
Choosing the right financing or operating method may depend on the transactions that are taking place globally. For example, the success of your funding round may depend on the number of projects that are currently being raised or on the alternatives to your project that have recently been presented.
Even when polishing your MVP, it will be important that you have the advice of a specialist who knows the practices, preferences, and interests of national investors and consumers. Many projects end up failing because they are too innovative for the market of Spain or because they do not take into account the way we consume.
Nevertheless, if you are going to look for a lawyer for startups in Spain you not only have to make sure that he has the right legal knowledge. You should also check his background, his relationships with the entrepreneurial (and investment) ecosystem, and his ability to raise funds. The task is not easy, but at LexGo App we can help you find the right professional.