Delivered by Walt Wright @ the h
TiE-Boston Business Summit
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LAW GROUP I LC
When times are tough…
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People seek power
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And misery loves company
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Define the term partnership
Explore the conditions that support partnerships
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Explainrfie partnership ;J1 rJk;??J
the ;J?J1 ?fJ?1 ?f?J;J process
Explain rfJ skills and knowledge needed for effective partnerships
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Identifyrfie rii J most commonJb] ii rki i r
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r -pI?JJn fJrJ`J`1how experience tells us these problems may be overcome
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LAW GROUP LLC
What is a Partnership?
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Why Lawyers don’t like the word?
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Where does the Power come from?
the non-partner Partner language …. r
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Legalese to the extreme….
“The use of the word “Partner”rt]J? this Agreement means a
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partyr to this Agreement and does not create a partnership
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between the parties. Furthermore, each Partner shallr]?
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no partnership or rJj !JCJ?]f] J?JJJJ
J1' fiduciary obligations to?I]?. rJ?t]?i
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or any other obligations, duties,, rights or privileges
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imposed under the Uniform Partnership Act or any other
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applicableJ law, except?as expressly provided under this
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H ow to
thrnre in this
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“We showed MonopolySoft our Proprietary
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Business Model and they really liked it.”
“We are partners.”
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LAW GROUP LLC
A PWC study showed that 43% of the companies that launched
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breakthrough services and products did so with outside
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“It's ?? `J f] ]J lopsided picture in favor of companies `J` i Y Jr1?J1' or
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more strategic partners,'' says Pete Collins of PWC.
“A good rule of thumb is that a good strategic rr]ir c iri
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double the value of your company,'' says James Atwell of PWC.
LAW (;ROUP Li.c
What are the objectives?
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LAWS GROUP L LC
Access to technology
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idea…..manyr times it is…..
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Cross selling, up selling Practice working on a1big
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Use of sales force deal
Free mentoring Feedback in product
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development, IP value, even
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Image credibility strength of team
LAW'' GROUP LLC
When you team] up with 's] Jrt]?1 business, one plus Jt]? s]t]can equal three.
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Companies of all sizes are forming strategic alliances.
You can JDg?s -]r]d act bigger than you are.
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Accomplish what you can't alone--often more quickly and profitably. ]j ,;ISJV l ] ?nrDf i ] D, Jy.
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Can be an effective way to pool resources and cutr,?:fJ
Can I]?J;) p)!JF ;pr0product getr to market more quickly.
's]t] help your r-1 1-1 r0 I -?l1'1S?r EJ!]J dy,
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By filling rr]::,the blanks, a] group of companies can offer up new products.
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Youdw]'r I] l`I have to hire more people than you need or dE',`l?Arp costly in-house
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Partnerships let you stay r]]rl r Je a]r]?J flexible, bringing in the right players for
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the h au at hand.
LANV GROUP LLC
Analyze where a partner might quot;help.
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Are .J Wt] i,shut outr ?? certain iii i s? r ;
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markets or?Jf] rr? ? r
Do you f]?j?]re r Ja specific function, talent, resource?
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Explore the relationship carefully.
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Make sure capabilities and strengths are complementary. rr?f] J rf] `
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Document ??]r ] E11 c and use a lawyer.
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will JD!] divide authority, duties, and costs?
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Express your goals and expectations--and create plans and;?? r?] rJ ?f]JJJ?]fj?J ?;r EI r ;?]?]f] ?]f] d
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Protect yourself. Your intellectual property and proprietary
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information and operation autonomy need protection.
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LAWS GROUP I,I.C
Don’t pin all your hopes on any one
large corporate partner company may
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Big companies…little people
Middle management/senior management
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Tie up the tech while they look for better or
develop their own
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keep the goals in line
acknowledge the risk
focus on the opportunity
realistic and pragmatic accessment
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Pay attention to groupthink & your team’s
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psych…Not a marriage…and that’s a good , , ?1n?? rl]?lr? ? ?l g J? d
Till Death Do Us Part…does somebody have to die?
Make sure the “Divorce Law” is properly drafted with
foresight, detachment, and fairness…
Wright’s Objective: “Opportunity to be generous and
the right to be ruthless”