V50 associate wanting to plan exit to Startup

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V50 associate wanting to plan exit to Startup

Postby Anonymous User » Wed Jun 21, 2017 11:07 am

Background: V50 corporate associate - 3rd year, Top 10 law school , K-JD. Happy in current job but don't want to do this forever.

Goal: Eventually have a significant role in a startup or even create one on my own.

Question: what do I do in the next 2-3 years to put myself in the best position to accomplish goal? Learn coding on the side? Startup-legal networking events, what else?

SFSpartan

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Re: V50 associate wanting to plan exit to Startup

Postby SFSpartan » Wed Jun 21, 2017 11:18 am

SOP seems to be to work at a firm that does EC/VC work, exit to one of your clients, and develop a hybrid business/legal role. With a Top 10 JD and solid corporate experience, lateraling to Silicon Valley shouldn't be hard. Orrick is currently hunting for midlevels both out here and in New York.

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Mickfromgm

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Re: V50 associate wanting to plan exit to Startup

Postby Mickfromgm » Wed Jun 21, 2017 7:07 pm

Assuming you are doing mostly general corporate, securities and M&A like I was, I would recommend taking on as many assignments that involve IP and day-to-day operational contracts (i.e., distribution, license, lease, customer, supplier/vendor and similar agreements) as possible. Furthermore, bone up on employee benefits (equity comp in particular), tax issues involved in employee compensation, and the like. You need to broaden your base; a startup doesn't need a elite specialist in the beginning (except IP, possibly). . . . they need a generalist GC and outside counsel.

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Re: V50 associate wanting to plan exit to Startup

Postby lawlorbust » Thu Jun 22, 2017 9:54 am

Business school

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Re: V50 associate wanting to plan exit to Startup

Postby Anonymous User » Thu Jun 22, 2017 10:49 am

Get Lucky...

But seriously, work hard, gain skills that matter, network like hell (high school, college, law school classmates), stay in touch with juniors at clients (and your own firm), join a board where start-ups are. I have tried to quit being a lawyer for 5 years and in this vein have spoken to dozens of people. People who make the jump from law to anything else, generally were prepared to jump long before they did but then got lucky and did. None of these people sent in a resume and cover letter to Goldman Sachs or Facebook (for a non lawyer role) and just got an interview/offer.

I recently got an offer to go to a startup through a college friend, never thought this would happen and am seriously considering it.

If you want a lawyer role at a startup it helps to be in the emerging company practice at your firm (or another) and be in a SV/SF/LA/NY office where startups are. You will get more bites at startup opportunities at Gunderson SV then Mayer Brown Chicago.

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Re: V50 associate wanting to plan exit to Startup

Postby Anonymous User » Thu Jun 22, 2017 10:52 am

lawlorbust wrote:Business school


M7 business school. Business is even more of a prestige whore then law and no, no startup or VC is going to hire you b/c of your Kentucky U. MBA. Now, a TTT MBA and relevant work experience and your golden.

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Re: V50 associate wanting to plan exit to Startup

Postby lawlorbust » Tue Jun 27, 2017 2:31 am

Anonymous User wrote:
lawlorbust wrote:Business school


M7 business school. Business is even more of a prestige whore then law and no, no startup or VC is going to hire you b/c of your Kentucky U. MBA. Now, a TTT MBA and relevant work experience and your golden.


Eh, I don't agree with this.

Can't think of a more prestige-conscious profession than law. But business school does provide actual paths into the careers OP is interested in (and he's got a fairly strong resume for everywhere but HSW), whereas trying to jump to inhouse and jump to BD is a huge shot in the dark.



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