b'11. Prepare Your Offering Package & Raise Moneyyou identify all of the direct and indirect risks of your offering, in-cluding risks involving you, your company, the object of the invest-ment, taxes, and regulatory issues, any of which you might overlook on your own.Investor Confidence. Why would investors want to invest in an offering where the syndicator took shortcuts in order to save money, while putting the entire investment at risk from future litigation from disgruntled investors or regulatory agencies?Legal Fees Are Reimbursable. Legal fees for formation of a syn-dicate can be reimbursable by investors. Your investment in compe-tent securities counsel is an insurance policy that will protect YOU and can be reimbursed by your investors.Practicing Law Without a License. The unauthorized practice of law is defined as drafting legal documents that define the rights and duties of people other than yourself. Just as you can sell your own house without a real estate license, you can draft your own will or represent yourself in court. But if others will be signing legal documents that you prepare, you are practicing law without a license and legal action could be initiated against you by any state bar that regulates the legal profession. In many jurisdic-tions, the unauthorized practice of law is a criminal offense. Attorneys are prohibited from assisting non-attorneys with the unauthorized practice of law.Litigation Costs Far Exceed the Costs of Proper Syndication. Undoing or fixing an incorrectly structured or noncompliant offer-ing will cost you many times more in legal fees than it would have cost you to hire a competent securities attorney to help you do it right in the first place.You Cant Be Indemnified for Securities Violations. No limited liability company can protect your assets if you violate the law. And as a matter of public policy, a syndicator cannot be indemnified by the syndicate or its investors for securities violations.Drafting your own syndication documents without an attorney may cost you more in the long run than hiring one to assist you with the prop-er structure and appropriate exemption in the first place. Failure to do so may place your personal assets at risk and subject you to liability that 131'