How a Business Hired a Lawyer to Review a SAFE Note in New York (October 2023)

In 2023, a business in New York sought assistance with the review of a SAFE note to ensure that there were no standard protections missing and to clarify any associated tax or reporting obligations, particularly as the client was a non-U.S. investor. Their primary goal was to secure a thorough analysis of the investment documentation related to an upcoming $100,000 investment, specifically in the context of their venture focusing on artificial intelligence for venture capital firms. As a result, the client received 10 proposals from licensed attorneys, with flat fee bids ranging from $400 to $750, all submitted to complete the work within the requested deadline of less than a week.