Practical Legal Advice for Startups [Entire Talk] - Martin Nichols, Stan Christensen (DLA Piper)

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Separate Business and Legal Issues - Martin Nichols, Stan Christensen (DLA Piper)
Date: 11/10/2010
Length: 3 minutes
Speaker(s): Stan Christensen
Sources: Stanford Technology Ventures Program
Description: Attorney Martin Nichols suggests separating legal issues from business issues before entering into negotiations. This strategy is often very helpful, particularly in face-to-face negotiations. In meetings and conference calls, Nichols sets out an agenda and key issues, and then tries to come up with a basket of issues for the business people to try and work out with their counterparts.

Other Videos in Series

Attorney Compensation from Startups - Martin Nichols, Stan Christensen (DLA Piper)
Stan Christensen
11/10/2010
Summary: The industry norm is for attorneys not to take equity or a board seat as forms of compensation from startups, says attorney Martin Nichols. In Silicon Valley, fee deferrals are far more normal. Big legal firms may be less likely to work with small startups due to time and revenue constraints, but a smaller firm may not be able to provide a startup with everything that is needed when it comes time for big transactions, such as mergers and acquisitions. Watch More
Choosing an Attorney - Martin Nichols, Stan Christensen (DLA Piper)
Stan Christensen
11/10/2010
Summary: Attorney Martin Nichols shares subjective early filters to use when trying to find a proficient attorney. Beyond these basic measurements, a difference in quality will be found in each attorney's ability to get deals done. Nichols suggests finding an attorney who can also be a solid advisor and a true value-add for your company. Watch More
Legal Billing Issues - Martin Nichols, Stan Christensen (DLA Piper)
Stan Christensen
11/10/2010
Summary: Billing is less of an issue, if you build a relationship with legal advisors you trust, says attorney Martin Nichols. Entrepreneurs should share their acceptable fee ranges with attorneys, but they may also be able to work out fee caps and flat rates for services. Clients can help ensure the best service from attorneys by showing mutual respect through offering referrals and paying bills on time. Watch More
Listen to Practical Advice - Martin Nichols, Stan Christensen (DLA Piper)
Stan Christensen
11/10/2010
Summary: Attorney Martin Nichols believes clients should receive the best practical advice from an attorney, even when the client is in a legally superior position during a negotiation. Nichols shares an anecdote where he needed to explain to a client the practical value of not fighting for a previously agreed on payment, to avoid being exposed to legal costs of an even greater amount. Watch More
Practical Legal Advice for Startups [Entire Talk] - Martin Nichols, Stan Christensen (DLA Piper)
Stan Christensen
11/10/2010
Summary: Stanford lecturer and Arbor Advisors Managing Director Stan Christensen discusses legal issues related to startups and entrepreneurs with attorney Martin Nichols, partner at DLA Piper. The conversation covers selecting and working with legal advisors, issues of compensation and negotiation, and the need for entrepreneurs and companies to always seek practical and efficient advice. Watch More
Protecting Intellectual Property - Martin Nichols, Stan Christensen (DLA Piper)
Stan Christensen
11/10/2010
Summary: According to attorney Martin Nichols, entrepreneurs need to have a great deal of trust when sharing intellectual property with venture capitalists, as VCs often will not sign non-disclosure agreements. If a client is working on patentable technologies, Nichols suggests trying to button up those issues before going to meetings. Watch More
Seek an Efficient Legal Team - Martin Nichols, Stan Christensen (DLA Piper)
Stan Christensen
11/10/2010
Summary: Individuals or startups seeking legal advice need to obtain solid referrals on all prospective attorneys. Martin Nichols, partner at legal firm DLA Piper, believes entrepreneurs often don't need big legal teams, but should always seek efficient legal teams. Watch More
Separate Business and Legal Issues - Martin Nichols, Stan Christensen (DLA Piper)
Stan Christensen
11/10/2010
Summary: Attorney Martin Nichols suggests separating legal issues from business issues before entering into negotiations. This strategy is often very helpful, particularly in face-to-face negotiations. In meetings and conference calls, Nichols sets out an agenda and key issues, and then tries to come up with a basket of issues for the business people to try and work out with their counterparts. Watch More

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