How a Business Hired a Lawyer to Draft a SAFE Note in Tennessee (June 2026)

In 2026, a business in Tennessee sought assistance with drafting a SAFE agreement as part of their fundraising efforts for an early-stage consumer hardware startup. The founder aimed to create a legally sound agreement suitable for multiple investors while needing guidance on specific terms, including a discount rate, an MFN clause, and advice on valuation caps. Additionally, the client highlighted their competitive advantage with a granted U.S. utility patent, traction from crowdfunding, and a working prototype in development. As a result, the client received 15 proposals from licensed lawyers, with flat fee bids ranging from $450 to $2,000, all submitted to complete the work within the requested deadline of less than a week.