I finally know what sector i want to work in within law. What next?

OP

You only have a law degree and think startups will come to you as opposed to an established firm without any work experience or even a TC? I think you've just watched too much Silicon Valley

I have a deep understanding in a small area of tech. Most established lawyers are old people who have no interest in tech or they dont have any interest in that specific area of tech I will work in. I already have had some projects coming to me for help because I understand them unlike the 50yo lawyer with experience more than my age. Such company starters are very young as well. After advising 1-2 companies, it will have a domino effect because I have good contacts and an established community within the sector which I believe will help me.

(edited 5 years ago)

Reply 21

That'sGreat

21

Original post by Ketchuplover

I have a deep understanding in a small area of tech. Most established lawyers are old people who have no interest in tech or they dont have any interest in that specific area of tech I will work in. I already have had some projects coming to me for help because I understand them unlike the 50yo lawyer with experience more than my age. Such company starters are very young as well. After advising 1-2 companies, it will have a domino effect because I have good contacts and an established community within the sector which I believe will help me.

How do you have a deep understanding in a small area of tech with no experience or training aside from a law degree? Researching in your spare time doesn't constitute a 'deep understanding'. People follow the money, you will find an abundance of 'old people' involved in tech if it's worth something, and the fact that tech startups have been around for ages, it suggests there are already people and established companies doing this (with expertise and qualifications to evidence it). How do you have an 'established community' within the sector also?

No doubt your uncle probably knows some tech founders, but whose to say they would trust you with something as important as fundraising (without it they will die)?

Reply 22

Cereidee

18

this whole thread is a mess.

Reply 23

Ketchuplover

OP

12

Original post by That'sGreat

How do you have a deep understanding in a small area of tech with no experience or training aside from a law degree? Researching in your spare time doesn't constitute a 'deep understanding'. People follow the money, you will find an abundance of 'old people' involved in tech if it's worth something, and the fact that tech startups have been around for ages, it suggests there are already people and established companies doing this (with expertise and qualifications to evidence it). How do you have an 'established community' within the sector also?

No doubt your uncle probably knows some tech founders, but whose to say they would trust you with something as important as fundraising (without it they will die)?

I have a deep understanding of the sector in which I have been involved with for a long time. It didn't have legal implications before but now it does because it's growing and laws are adopting. I do have experience about the legal aspect of it and personally involved in teams where this was being done. I have also written and created drafts to automaise my online business. Since I am only a legal graduate, I can help with "assisting" people with documents. I can also provide other services but I will not because I am not a qualified lawyer and that would be illegal.

When I'm talking about tech, I use that as a term to try and explain the small area broadly. I don't want to give more information. It's a very small emerging area which has a very little amount of lawyers and those 50yo lawyers probably haven't even heard of it. This is the advantage of it. There's only 8 law firms that deal with this and those law firms are within top 50 worldwide.

Reply 24

Ketchuplover

OP

12

What? I'm talking about connections such as banks, hedge fund managers, worldwide casino owners, investors...

Reply 25

Ketchuplover

OP

12

I also don't see how this is related to my question:
"Blame an OP who thinks that getting a mate of theirs with a startup to ask them about something legal makes them the next Herbert Smith."

I was simply disputing against your claim...

Reply 26

That'sGreat

21

Original post by Ketchuplover

What? I'm talking about connections such as banks, hedge fund managers, worldwide casino owners, investors...

Original post by Ketchuplover

I have a deep understanding of the sector in which I have been involved with for a long time. It didn't have legal implications before but now it does because it's growing and laws are adopting. I do have experience about the legal aspect of it and personally involved in teams where this was being done. I have also written and created drafts to automaise my online business. Since I am only a legal graduate, I can help with "assisting" people with documents. I can also provide other services but I will not because I am not a qualified lawyer and that would be illegal.

When I'm talking about tech, I use that as a term to try and explain the small area broadly. I don't want to give more information. It's a very small emerging area which has a very little amount of lawyers and those 50yo lawyers probably haven't even heard of it. This is the advantage of it. There's only 8 law firms that deal with this and those law firms are within top 50 worldwide.

Ah, so you aren't fresh out of university? That was my perception so I apologise. It seems decent then.

Question for you though, where have you got these high powered contacts from such a wide range of industries?

Reply 27

Trinculo

21

Original post by Ketchuplover

I also don't see how this is related to my question:
"Blame an OP who thinks that getting a mate of theirs with a startup to ask them about something legal makes them the next Herbert Smith."

I was simply disputing against your claim...

OP (Ketchuplover):

I wouldn't normally do this - but I feel this is for your own good.

You're not being realistic and I feel you're heading yourself and people around you for a world of trouble.

As I understand it, you're a very mediocre law graduate, and your industry knowledge seems to be rather limited too.

You haven't taken the LPC, despite having flirted in and out with taking it for years. Your academic law is highly questionable.

Your objective in all this is to become an unqualified lawyer of some kind and short-circuit the legal profession so that you can become some kind of boutique in-house consultant.

This, in of itself - is not necessarily a terrible idea IF you had some kind of experience, talent or otherwise specialist skill. But you don't. As it stands, you have a dodgy LLB- from where, I don't know (was it distance?) and zero experience and zero training of practise.

Yet here you are, asking time and time again if you can get advice on how to game the system and get a big money job when you don't actually know what you are doing. Your only selling point is that you seem to think that being in your 20s is advantageous, relative to a 50 year old technology lawyer who has been doing start-up law every day for the last 15 years.

I say this entirely without prejudice.

Give up.

Go and find honest work.

Before you do something to mess up your life, or the lives of people around you.

Reply 28

jacketpotato

20

Original post by Ketchuplover

It's within the tech industry helping new startup businesses establish their newly formed business ideas and fundraising. Checking their documents etc. That's what it is basically.

Original post by Ketchuplover

I can do it all by myself too.

As a qualified lawyer who works in this space! You cannot do it all by yourself. Even qualified lawyers who have advised start-ups for years would get specialists to help them (e.g. tax specialists for EIS/EIB, IP specialists for critical IP etc.)

There is simply no way that you can have the technical knowledge to be a competent adviser to start-ups based on a law degree.

If you are intending to work for start-ups on their fundraising and establishment - at the moment I doubt that you know how fundraising rounds are documented or what the market practice is. These documents can be pretty complex. If you tried to do it yourself you would miss most of the technical issues.

You might just about get away with reviewing basic commercial contracts but you wouldn't have the know-how to start advising on business critical IP.

And I very much doubt you know how the tax aspects work. The EIS rules are pretty complicated. On the benefits side you'd probably not realise that issuing shares to employees leads to an enormous tax bill ! You could help your clients avoid that by setting up an EMI option scheme but I doubt you know how to do that ...

Even if you do have your own contacts - it would definitely be a good idea to do a TC at a firm which operates in the sector you are interested in, or perhaps paralegal first, so that you can learn what you are doing ...

(edited 5 years ago)

I finally know what sector i want to work in within law. What next?

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