How should startups pay their attorney?

Startups are often cash-strapped in their early days, but it’s usually during those times that they most desperately need legal counsel. So what’s the best way to compensate those professionals for their time?

Despite some perceptions, the industry norm is for attorneys to not take equity or a board seat as a form of compensation from startups, says attorney Martin Nichols in this Entrepreneur Thought Leader Lecture at Stanford University. In Silicon Valley, fee deferrals are far more normal.

http://ecorner.stanford.edu/swf/player-ec.swf

(Can’t see the video? Click here.)