023 : An entity’s warm blanket with Matthew Moisan

Matthew Moisan LegalWhen I was talking to my friend Andrew about joining him to help co-found TripExpert, I was handed a big stack of legal papers to trudge through and eventually sign. As I was reading them, my eyes began to cross. I thought I understood most of it, but I had no idea whether anything in there was good or bad, or if anything should be added or removed.

I knew I needed to get some help from someone who was better versed in founders’ agreements than me. On the recommendation of a friend, I got in touch with a lawyer specializing in startups and had him take a look. With just a 30-minute phone call and a few emails back in forth, he potentially saved me thousands (if not tens of thousands) of dollars. And I now had full understanding of the document I was signing.

Law can be an intimidating field, and first-time entrepreneurs often have so many unanswered questions: when should you talk to a lawyer? What type of lawyer should you hire? Where can you even find a lawyer?

My guest today is Matthew Moisan of Moisan Legal. We discuss exactly what you need to know about law as you’re delving into entrepreneurship, and how to best set yourself up for success.

In just 50 minutes, he’ll raise you out of law novice-dom, and there’s honestly not a dull moment.

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Should you ask your investor to sign an NDA?

There’s a common question among first-time entrepreneurs: Should I ask [insert person here] to sign a Disclosure Agreement? These “idea people” think they have a highly profitable idea, and want to make sure it’s protected before talking to anyone.

When someone asks my opinion on whether they should present an NDA to a potential investor or mentor, I have one emphatic reply: No. No no no. No no no no no no no. NO.

I made a video to explain why. Continue reading