Everyone realizes startups are tough: walls and speed bumps litter the path ahead of any daring entrepreneur. While you're busy making product progress and thinking you've found the perfect designer to round out the team, your first business angel might have finally seen the light and gotten out their checkbook.
You've worked the hard grind to get through a particular challenge, and now it's time to get it locked in: let's bring in the lawyers to help celebrate this milestone! said nobody, ever.
A Necessary Evil, Legally Speaking
I've spoken with many startup teams over the past few years, and most roll their eyes when the topic of lawyers comes up. At best, the legal profession is seen as a necessary evil; at worst, it's not unusual to hear tales of law firms charging astronomical fees for apparently straightforward and standard pieces of work.
Rarely do you hear an entrepreneur eulogizing about the additional value their legal team brought to the table; rarely do you hear about the legal team willing to adapt away from century-old fee structures when dealing with the dynamic and rapidly evolving world of startups.
Patricia Gannon of Karanović & Nikolić, Connecting Startups with Legal
My guest at the most recent Startup Grind Dublin is planning to change this situation. A lawyer by training, Patricia Gannon is celebrating 20 years at the head of Karanović & Nikolić, the company she started with her husband in Belgrade in 1995 -- now the leading commercial law firm in the Balkan region.
In recent years, Patricia has developed a particular interest in startups, and was instrumental in launching many of the fundamental components of the local ecosystem.
Her achievements include creating the Serbian Private Equity Association, and organizing the first Startup Weekend ever held in Belgrade. Patricia's next challenge might impact a much wider audience of entrepreneurs: as Vice Chair of the International Bar Association's European Forum, she is focused on helping bridge the skills gap between the needs of European startups, and the lawyers of tomorrow.
The single biggest challenge she sees? Helping lawyers adapt to the pace at which startups move. Check out the video below for more insight's from our inspirational guest.