Start UpsWe represent a select number of startups. Our experience is that startups, much like children, require significant time and effort properly to develop so they can succeed. As such, we have noted that not all the time spent on startup companies can or should be billable.
Billables for startups are paid with the three available forms of payment, (1) immediately available funds, (2) debt or (3) equity. Bulge-bracket law firms often layer significant amounts of debt on a startup, while demanding less immediately available funds. This can significantly burden the startup – and provide severe stress on the founders – and force them effectively into premature liquidation.
Accordingly, we seek the flexibility, with our low base rates, to provide flex to startups to accommodate the forms of payment with their ability to pay.
However, we note the need to provide significant attention and support, much like with children, which are not subject to our low base rates for startups or any of those billings.
We do not run a “daycare” for startups, with a maximizing of numbers business model.
Our attorneys have lectured at prominent academic institutions regarding formation and management of startups, particularly in the healthcare and life sciences industries. These include lectures for startup programs at the Weill Cornell Medical Center (the medical school for Cornell University), Memorial Sloan-Kettering graduate program and Rockefeller University.