Allens Accelerate will provide start-ups with free access to the ‘A-Suite’ – a suite of legal documents specifically drafted for start-ups.
The new practice, which will be led by Sydney partner Gavin Smith, will also provide fixed-price legal services to help new start-ups become incorporated and protect their intellectual property.
“We see our Allens Accelerate practice as a strong commitment to, and investment in, the start-up community,” Mr Smith said.
“The goal is to not only help start-ups get off the ground, but also to build a long-term relationship where we can bring to bear the expertise and contacts we have at our firm during the different growth cycles of a start-up.”
Startups often overlook top-tier firms because of concerns about cost, Mr Smith said.
“We totally understand that start-ups don't have much money to spend on lawyers and in the past that was a legitimate concern,” he said.
“However, we have been mindful of that and made sure our Accelerate offering is in line with the price expectations of start-ups.
“Most importantly, the initial A-Suite of documents are completely free. These documents include a constitution, shareholders’ agreement, website terms and conditions, a privacy policy, employment contracts and other documents that are crucial for any business just getting off the ground,” Mr Smith said.
“And once the start-up is up and running, we will also offer innovative fee arrangements which run in line with the life cycle of a start-up's funding arrangements.”
