RocketSpace Recommends: 11 Best Law Firms for Tech Startups in London
Technology startups are disruptive by nature; Unfortunately, the same evolutionary idea that could potentially land you millions could also be the source of your demise — without proper legal planning, that is.
It's not uncommon for tech startups to challenge existing business arrangements that enjoy the protection of long-established laws. However, the status quo doesn't usually bend over backward without a fight. Overlook an obscure regulation, and you could be slapped with a hefty penalty that effectively halts traction to a standstill, siphoning off cash from important objectives like product development, sales and marketing, and recruiting. The best way to avoid such inconveniences? Partner with legal counsel from the very beginning. An experienced technology-focused lawyer can alert you to any "gray areas" that could potentially attract lawsuits, government investigations, and other problematic events that could send your startup into a downward spiral. Additionally, a good lawyer can help draft founders' agreements, prepare venture capital arrangements, and recommend appropriate intellectual property protection. Failing to secure critical legal documents and counsel is one of the most common mistakes we see new entrepreneurs make when transitioning from ideation to market.
Put simply, every startup that has reached the fundraising stage can benefit from having legal counsel on retainer. With that said, identifying which law firms have a solid understanding of the technology industry can be challenging.
Coming in at second in Rocketspace's list is Penningtons Manches:
Penningtons Manches LLP is a UK-based firm with a longstanding reputation for excellence. The firm maintains offices in the City of London, Basingstoke, Cambridge, Guildford, Oxford, Reading, and San Francisco.
Known for its strong ethics and personalized level of customer service, the firm provides technical expertise to private individuals; owner managed businesses and startups to multi-national corporations. The firm's 110 partners and more than 600 employees are organized into multi-disciplinary teams focusing on a variety of industry sectors including technology, life sciences, education, social housing, retail, and international wealth. The industry widely acknowledges Penningtons Manches for its unparalleled market insight.
In their own words:
"We pay great attention to matching your requirements with the right skills, delivered cost-effectively and within the appropriate timescale. Our clients range from private individuals; owner managed businesses and start-ups to multi-national corporations, public companies, professional partnerships, banks and financial institutions."
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