What's a reasonable budget for forming a proper shareholder agreement in a new start up, formed as a corporation to be owned between 4 founder/shareholders? I understnad there's some variation depending on complexity, but for basic exist scenarios, and some vesting, how much can you expect to pay to have a lawyer prepare a formal agreement?
We're in the early stages of starting up a new venture, with funding and partners in place, and an understanding (on paper in non-legalese) between us. I've been quoted a fee of about $5000 to prepare such a contract.
Is this reasonable based on others' experience? Is this lawyer out to lunch, or would we be getting a good deal?