You can’t work on MSA’s with big law firms

Usually when founders start a company they hire a big law firm to do their financing; the big law firms are geared towards those deals and do those well; however when the company starts to sell its software services, these companies usually continue to work these big law firm as sort of a default choice; they soon find out that it’s not practical, expensive and slows their ability to close on deals with enterprise customers. while big firms are good at doing big transactions with large fees that are not geared to a steady flow of smaller MSA (master subscription agreements) deals; they generally react very slow (between two for three days) where sometimes all you need is a quick answer within the hour; another element is that every review is done as if the company legal future depends on it…; i.e many many comments, most of which are not necessary; not only the response is slow, it is very very expensive; the hourly rates are through the roof. One way to solve this issue is to hire an in house counsel; however, many times the company is too young for that and there’s not enough work to justify it . Therefore, it makes sense to work with a smaller firm or a solo attorney. They usually react fast, no red tape, sane fees, and fast resposne.