Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing, and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City. Episode Description:  Kimberly Fishman (Fordham Law ‘23) and Sydney Glazer (Fordham Law ‘23) welcome Theresa Mohan, Adjunct Professor at Fordham Law School for a discussion about the role of in-house counsel in the startup context. Together they examine the recommended timeline for securing in-house counsel, the benefits of utilizing external versus in-house counsel, and what entrepreneurs need to know when employing legal services at various stages of their start-up.  Episode Roadmap: [:30] Third-year Fordham law students Sydney Glazer and Kimberly Fishman introduce Professor Theresa Mohan. [2:28] When should an entrepreneur hire in-house counsel? [4:41] Employing external counsel as needed in early company stages. [6:23] The recommended path for growing in-house counsel. [8:13] Determining appropriate compensation for in-house counsel. [11:50] Being king versus being rich- how successful founders make their decisions. [14:55] Potential legal issues that lawyers of start-ups will face. [17:15] The expansive and changing role of early-stage legal counsel. [20:00] The standard inflection point of requiring greater legal counsel- going public. [24:21] Raising capital advice can be provided by an outside law firm. [26:45] Lessons learned from 20+ years of advising growing internal legal departments. [29:02] Critical skills to look for when hiring in-house counsel. [31:15] When to utilize outside versus in-house counsel. [32:47] Advice for the entrepreneurial leader. Tweetables: “Hiring a lawyer too soon could inhibit a new company’s perspective or growth.” - Theresa Mohan “The legal department takes its shape and its growth trajectory based on the business itself and the needs of that business.” - Theresa Mohan “The most successful entrepreneurs understand that they are going to get more growth by sharing the potential upside.” - Theresa Mohan “The needs of a company as it grows and expands are going to be keyed off of what that company is doing.” - Theresa Mohan “Raising capital is something that an outside law firm can provide very good service on.” - Theresa Mohan “There has to be alignment between the lawyer and the founder and leader of the company.” - Theresa Mohan Mentioned in This Episode: Additional Resources:  Fordham’s Entrepreneurial Law Clinic Follow us on Twitter @FordhamELC Sponsors:  Nasdaq Educational Foundation Fordham’s Entrepreneurial Law Advisory Council Disclaimer: The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”) is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.