contract-law
Review of contract with startup
<p>I'm considering a contract with a very small startup (in the US). The compensation is largely equity-based, as opposed to salary. I understand the offer and have strong trust in the other owners (I've worked with them previously). I don't, however, have a huge amount of trust that the small lawyer hired by the company did a great job with the contract. The primary risk I'm concerned about it that an acquiring company might take advantage of a poorly written contract to not pay me.</p>

<p>What services are available to an individual to have this contract reviewed and ensure it protects my interests?</p>

<p>How important is it to get the contract reviewed at this point? Is there any recourse in a future dispute for the legalese not matching the lay-person's understanding of the contract?</p>

<p>This is what lawyers are for.  There is no reasonable alternative to paying a lawyer with expertise in corporate and employment law to review the contract to ensure it protects your interests.  Even if you <em>did</em> think the lawyer hired by the company was competent, he is <em>not</em> looking out for <em>your</em> individual interests because <em>you</em> didn't pay him.</p>

<p>There are many reasons that contracts and their clauses can be voided or interpreted in different ways.  But if it ever comes to a <em>dispute</em> it's too late to hire a lawyer to reconcile the contract to your understanding.  At that point all you can do is spend <em>a lot more money</em> trying to litigate it into being interpreted your way.  And by the time you're in litigation, it has been said, "only the lawyers win."</p>

<blockquote>
  <p>What services are available to an individual to have this contract
  reviewed and ensure it protects my interests?</p>
</blockquote>

<p>A lawyer</p>

<blockquote>
  <p>How important is it to get the contract reviewed at this point? Is
  there any recourse in a future dispute for the legalese not matching
  the lay-person's understanding of the contract?</p>
</blockquote>

<p>The question of <em>how important is it</em> is up to you. It sounds to me that you are totally right to be concerned. The situation you are imagining is exactly the sort of thing that happens. I say this without assuming any ill-will on the part of the acquiring company.</p>
