How a Business Hired a Lawyer to Draft a SAFE Note in Texas (February 2024)

In 2024, a business in Texas sought assistance in drafting a SAFE note to facilitate its fundraising efforts. The client aimed to raise $1,000,000 to support product development while addressing essential aspects like debt retirement, legal contracts, resell agreements, and key hires. With a tight timeline to close the financing in just one month, the client prioritized finding a suitable legal framework that would effectively attract investors. As a result, the client received four proposals from licensed lawyers, with flat fee bids ranging from $750 to $3,500. All proposals were submitted to meet the client's requested deadline of less than a week, ensuring that the legal needs aligned with their ambitious fundraising timeline.