John Bautista of Orrick, Herrington & Sutcliffe was the chief lawyer behind the Long-Term Stock Exchange, as well as a co-founder and director. The U.S. Securities and Exchange Commission-approved exchange is designed to change the paradigm of traditional stock exchanges by rewarding entrepreneurs and investors committed to long-term business strategies. Bautista is among the five finalists for the Innovator of the Year Award. The winner will be announced Nov. 6 as part of the California Leaders in Tech Law and Innovation Awards. The Recorder recently asked Bautista about the concept behind the exchange and the legal work that went into it.

The Recorder: What does it mean to you to be called an innovator?

Innovation to me means identifying, developing and launching solutions that involve both technology and law to solve significant problems for emerging companies. Innovative solutions are novel because others have not yet identified them. To be an effective innovator who takes on significant problems requires collaborating with others and moving quickly.