How a Consumer Hired a Lawyer to Review a SAFE Note in Illinois (December 2023)

In 2023, a personal client in Illinois posted a project seeking assistance with a review of a SAFE note. The client aimed to gain a thorough understanding of the various scenarios and potential timeframes concerning their investment, particularly needing a comprehensive table detailing all possible outcomes—positive, negative, and neutral—specific to the investment terms. Additionally, they sought insight into any unique provisions within the SAFE note that might not commonly appear in such agreements and how these terms might benefit either the company or the investor. As a result, the client received 10 proposals from licensed lawyers, with flat fee bids ranging from $325 to $1,150, all submitted to meet the client's deadline of over a week.