Ross Mongeon Covello & Co (RMC&Co) is a boutique firm of experienced business lawyers, each of whom has had significant practical IP experience. That experience includes dealing with and managing both business and legal issues faced by technology-based, start-up companies and SME’s. Each is well-versed in the business of IP and has also served in important, volunteer roles in national and international organizations, helping develop IP practice for the province and country.
Frequently, larger firms find that they are not able to properly support the needs of technology-based start-up clients. The clients’ needs for business and strategy advice, the significant amount of education that must be done to prepare the clients for various types of transactions coupled with fee considerations will frequently lead to decisions for large firms to avoid this type of business.
However, as clients grow and require more sophisticated legal services such as M&A work, securities advice or in-depth IP support, larger firms are concerned that they may lose the opportunity to have them as their clients if they do not represent and service these companies in their start-up phase.
The solution is to refer such clients initially to a boutique firm such as Ross Mongeon Covello & Co. The boutique nature of the firm means that the clients who have been referred will receive advice from specialized and experienced professionals on a par with those of the referring firm. The smaller size of the firm and its unique operational structure also ensures that overheads are as low as possible with a correspondingly lower fee arrangementthat enables start-up and small business clients to get the advice they need to structure and position their business for success.
RMC&Co is experienced in respecting its referrals. Our firm is accustomed to working with the client in a fashion that will preserve the future opportunities for the referring firm. Our focus is on educating and preparing the client and its business for the ‘Big Leagues’.We work cooperatively and collaboratively with law firms to ensure the client’s needs are met at every stage of development. As the client ‘outgrows’ the services that we provide, the larger law firm takes on a more prominent role.
When is it appropriate to refer a client to RMC&Co.? It can happen at almost any stage, but typically it starts with IP registrations (i.e. patent and trade-mark applications), licensing and business development support, IP management strategy development or other designated work. The larger law firm remains on the scene to provide financing,securities and more significant corporate and transactional work. Ultimately, successful clients ‘graduate’ from start-up mode and become fully-integrated, large firm clients with appropriate legal issues and financial resources.