OpenLegal.fyi

Hey all, Excited to launch OpenLegal.FYI today! We had this idea when we were hunting for a startup lawyer and found it difficult to figure out how much startup legal services (incorporation, fundraising, general contract work, etc.) are supposed to cost. When we were searching for a lawyer: 1. We had to take thirty-minute consultation calls with every lawyer (seven of them!) 2. Each lawyer quoted various hourly rates with no explanation We wanted more information to make our decision - but didn’t want to waste time. So we asked more friends and saw interesting insights (some traded equity instead of paying fees, some were able to defer fees until a Series A, etc.). We also saw interest in benchmarking for company dissolution. So, we built OpenLegal to be a trusted website for founders to upload legal fees and create price benchmarks for working with lawyers. Would love to hear your thoughts! - Saketh, Swapneel, and Shreyank

Super cool idea, this is genuinely really valuable info for founders (I see questions like this asked all the time in founder groupchats/forums). Could be a good step towards standardizing more flat fee legal products like Stripe Atlas.

Much needed, legal fees are so opaque for startups, and end up being such a large chunk of the bill

There is a clear pain point in finding lawyers that make sense for your company Excited to see OpenLegal take on this challenge through a transparent platform. Will be useful!

This is actually such a great idea, looking forward to seeing how startups utilize this with increased visibility and transparency.

Wow we spent so much in the early days and the service wasn't even that good... Just shared my info wish this was around in the early days of PromptLayer

Insanely Valid, Just got billed by my lawyer for a 1 hour phone call where he provided me with no useful information - around our re-incorporation. Now seeing that I'm overpaying. Great stuff!