Some of the best entrepreneurial collaborations have been those involving a legal professional and a technically skilled creative. Good lawyers are the ones who get entrepreneurs to think creatively, and a strong technical background is key to getting the creative juices flowing. This type of relationship between lawyer and creative can lead to unique business concepts.
When you have a good lawyer on your team, it’s your job to structure the whole business. A lawyer is the only person who can give you the true legal requirements for your new business. If you can’t figure out where to start, you could waste a lot of time and money. You might have the technical skills to line up among the ranks of the new casinos 2021 has to offer, for instance, but if you can’t get a licence to operate then your technical skills mean nothing at all.
Understanding legal requirements is one of the first things I teach entrepreneurs to do before they start their businesses. If you don’t have a lawyer on your team, consider hiring one right away. Ask for referrals from your entrepreneur friends or get it done through a legal recruiter similar to Alex Gotch. Remember that a good lawyer can save you from many costly mistakes that I’ve seen others make. Once you have a lawyer on board, try to make a firm relationship with him and keep him updated on all your business-related decisions.
Nevertheless, it would be beneficial to any entrepreneur to be up to speed with different laws, regulations, and clauses that might apply to them. Apart from going for regular consultations with a good lawyer, reading blogs posted by Giselle Ayala or similar authors could better equip you with the knowledge to deal with legal difficulties that can arise in the future.
Here are some examples of creative partnerships between lawyers and creative individuals.
Betsy Greiner, the founder of Liquid Magic and founder of the Beautiful Group, has a great relationship with Steve Ramirez, who is a creative genius. Betsy always has Steve’s ear. Steve is always looking for new ideas to bring to his agency. Their business partnership works because they respect each other’s strengths.
In addition to working closely with Steve, Betsy also has me on her team, which helps with the legal requirements of her business. When it comes to legal requirements, lawyers are the experts. Betsy can reach out to her lawyer for specific guidance. Betsy and Steve share a good relationship, so we know what needs to happen to keep their business compliant with the law.
One of the coolest examples of a creative and a lawyer working together is a collaboration between Paul Saffo and Paul Elam, the founder of A Voice for Men and author of The Culture of Cruelty. Paul and Paul have been friends for years. When they first started talking about starting a group to talk about how modern men are oppressed in today’s society, Paul thought it would be great if he could work with Paul on his idea. Paul’s pitch was really innovative and he had a lot of good ideas.