Introduction
We believe that your counsel is a key member of your company’s team. Inviting your lawyer to work with you on the platform creates a relationship that can give your legal counsel access to documents in your Data Room and authorization to act on behalf of your company in the platform. You can even send them documents to be reviewed before you execute them. Here's how to add your counsel to your account and some resources to help them to know about us.
During the Register Legal Counsel workflow:
- Request your lawyer's contact information.
- Send an email inviting them to collaborate with your company.
- If you already have one, you can upload your Engagement Letter into your data room.
Your counsel will activate their account, and the two of you can begin collaborating in the platform.
Talking to Your Lawyer about the platform
Remember, you are your counsel's client, but you are also their customer. The best way to collaborate on the platform is to have a clear understanding of what it can do for both of you. You've already started to see what it can do for you, and we have an article to tell you even more! Here are a few thoughts you can share with your counsel about how it may benefit your relationship and ultimately your company and their firm.
What is the platform, and what do we do?
- The platform is for all of the stakeholders in a company to collaborate on the legal processes essential to operating. This includes founders, employees, board members, stockholders—and counsel.
- Users log in to review and execute documents. No more scanning and emailing and no more questions about being on the same version.
- The documents are stored in your account's Data Room for easy access by counsel and are fully downloadable. (In other words, your documents are yours!)
- The platform was built from the beginning to support the counsel/company relationship; streamlining processes so companies can conserve their resources for high-value legal advice on challenges like fundraising strategies and company positioning.
Our last, and most important, tip is to be open with your questions. It’s important to understand how the decisions you make here will impact your business. The platform can help you execute changes in your equity, but your lawyer will be the best person to advise you and help you understand the implications of the choices you are making.
For even more tips on working with your lawyer, visit our blog post, Working Effectively With Your Lawyer. For step-by-step instructions for how to change your counsel settings see our article here.
Additional Resources
- Adding Law Firm Team Members
- For lawyers: Registering Legal Counsel
- Editing Documents in the Platform
- For Lawyers: Working with Clients
1089354.1.0
© 2023 FMR LLC. All rights reserved.