Over one hundred startupers and tech company founders attended the “Anatomy of a term sheet” panel at How to web Conference yesterday, one more proof that financing is still one of the most important issues in the technology startups market. The presentation marked a premiere on the local market, the global law firm DLA Piper announced through its Romanian branch the launch of Accelerate initiative for entrepreneurs.
“DLA Piper is committed to supporting startups, scaleups, investors and other stakeholders all across the globe. We have recently launched our tech startup microsite, Accelerate, www.dlapiperaccelerate.com, which has videos, blogs and everything in between to help emerging growth companies succeed wherever they are in the world”, said Dylan Kennett, Associate, DLA Piper UK, for Business Review. Kennet, who was a keynote speaker at the Conference in Bucharest, is one of the promoters of this unique programme. “Part of that offering consists of our Startup Pack. This is a product which we offer to startups in a number of jurisdictions., explained the Canadian born lawyer and former start-uper.
What to look for
Most tech start-ups have limited resources to achieve legal counseling and overlook important issues that end up costing them dearly. According to Ana Maria Andronic, Head of IP Practice and Technology at DLA Piper Romania, the three big mistakes made by startups are believing that the Intellectual Property over the technology the founders develop is owned automatically by the company because they are the founders, postponing having the right legal infrastructure in place at the right time and getting any kind of funding without proper legal advice, a thing that usually backfires at their business. In other words, founder need to think from the beginning about protecting their Intellectual Property and have to understand certain Venture Capital terms even before they enter in any negotiations. “Find the right legal partner to help you on the road to building a great company. Your legal partner should be a partner in everything you do, you should trust him or her and believe that he or she is there to enable your business to move on the road you lay ahead”, said Cristina Bucur, Counsel Corporate M&A DLA Piper Romania, during the Conference.
What is in it for the startupers
The platform that DLA Piper develops globally, Accelerate, is website dedicated to start-ups, founders, entrepreneurs, emerging growth companies and investors community. It offers technology enabled tools and initial phases of a company’s development, guidance and best practices. All these materials are meant to help founders learn about the issues commonly faced at the incorporation, understand strategies for protecting the intellectual property assets, to get a handle on the essentials of good corporate housekeeping, employment and equity compensantions considerations and to consider key issued around fundraising, liquidity and ultimately exits.
Through this portal, founders can partner with DLA Piper’s emerging growth teams to accelerate formation, growth and expansion.
DLA Piper Romania is one of the biggest Romanian law firms, a branch of global law firm DLA Piper, and has over 50 lawyers. The Romanian bureau is keen to put at work its technological expertise, an expertise already proved on the market on collaboration with wellknown companies as UiPath.