Olswang's UK start-up programme nets 19 clients
UK firm's new initiative adds multiple clients in just over five months with some won by staff and junior lawyers
April 20, 2016 at 12:17 AM
3 minute read
Olswang's programme to provide legal counsel to UK start-ups and entrepreneurs has grown its client base to 19 clients since it first launched in November last year.
The programme, called equIP, is aimed at intellectual property (IP)-rich tech start-ups that expect their next fund raising round to be between £500,000 and £5m.
In just over five months, equiP has already added around half of the total number of clients it is targeting. It aims to support around 30-40 clients at any one time.
The clientele of equIP is made up of a mixture of existing Olswang clients and new clients of the firm.
Its new members have joined equIP for a three year term. They include Apperio, which helps businesses track their legal spending in real time and was set up by former CMS Cameron McKenna lawyer Nicholas d'Adhemar in 2012, computer software company RAVN Systems and cyber security company SQR Systems.
EquIP is led by Olswang corporate partner and co-head of technology Tony Waller, IP partner and head of trade marks Sarah Wright and IP partner and co-head of patent prosecution Justin Hill.
Waller said: "It is a firm-wide initiative that has been initiated and adopted by fee earners across our corporate, commercial and IP practices. Through it, we've been pleased to have introductions from all over the firm to interesting scale-up businesses."
The 19 clients that have signed up to equIP were won by lawyers and staff across the firm. For example, one client was recently brought in by a trainee, and another came to the firm from a member of staff in business services.
The programme is free to join and its services include discounted legal advice, a dedicated relationship manager and promotion and marketing through Olswang channels.
The launch of equIP came after the firm brought in a new bonus scheme in November to encourage all staff to bring in more business to the firm, including lower value mandates.
They are now eligible to receive bonuses worth 10% of fees generated by new clients spending at least £20,000.
The bonus scheme and the equIP programme are expected to encourage the firm's staff to deepen their relationships with clients in the wider technology media and telecoms (TMT) market.
The firm appears to have narrowed its strategy in the wake of the departure of former chief executive David Stewart, with a closer focus on its core TMT strength.
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