Larry Gennari, of Gennari and Aronson, is holding another thought-provoking event for entrepreneurs and startups this week. Join author Tony Tjan as he speaks about his book “Heart, Smarts, Guts, and Luck,” the New York Times Best-Seller and #1 Non-Fiction with Publisher’s Weekly.
Anthony K. Tjan (Tony) is Managing Partner of Cue Ball, a Boston-based venture capital firm. Most recently, Tony was Senior Partner at The Parthenon Group, a leading strategic advisory firm where he continues as Vice Chairman. Tony holds his AB and MBA degrees from Harvard University. He was also a Fellow at the Harvard Kennedy School of Government. Tony sits on several boards, is a contributor to Harvard Business Review, and is on the Editorial Advisory Board of MIT Tech Review.
Whether your company is raising money or positioning for a sale, the support of experienced professionals is essential and the relationship with your lawyer is a very important one. Before you spend a significant amount of money and energy pursuing your financing or some other deal, it is crucial that you establish a solid legal foundation that protects your business, technology and processes.
Selecting a law firm can be a daunting task…typical advice ranges from choosing the right sized law firm (to ensure a cultural fit, and to receive the right level of attention), to finding a firm that is local (close enough to give you the opportunity to establish a closer relationship with your lawyer, which facilitates their understanding of your business, leading to an improved level of service) to avoiding big law offices (so that you don’t end up financing part of their huge overhead, via higher hourly rates).
But beyond this basic advice, if I am either starting a company or am part of a small cap public company, I am looking for a two-fer (“two for one’). In other words, beyond a law firm, I would also seek a strategic partner. So my two-fer criteria would be the following for selecting a law firm:
- Legal: ethical, right sized, cultural fit, entrepreneurial minded, local, fair fee structure
- Strategic: highly connected (introductions to top-class advisors, board members, angels, entrepreneurs) and relevant industry business experience