Speaking of lawyers…

I know that many of you who are regular visitors are attorneys at some of the largest law firms in the world (Google has a wonderful analytic tool that allows me to see what network visitors come from). Some would say this is of no help to me as I seek to promote my law practice, that I would rather have potential clients visiting. Yes of course I would love that, but I also love you lawyers.

Why is that? There are two very important reasons. First, for many years one of the principal impediments to improving the legitimacy and acceptance of IPO alternatives were the large firm lawyers. They would suggest these techniques were shady, etc.

Over the past 5-7 years, through a variety of methods lawyers have finally understood the value of these approaches. They noticed the SEC tightening up disclosure to add more transparency. They may have read my book. They send their representatives to well-attended conferences. They see the success of many companies going public this way. More recently, some have been involved in some of the largest SPACs. And maybe some have been brought around in part through exposure to my humble blog.

So my view is, the more the merrier. I am thrilled that most large law firms now advise their clients to tread carefully but that reverse mergers, APOs, self-filings and these other options are indeed worth exploring. To me, this means more deals will happen which is good for everyone.

The second reason I love the lawyers is more selfish. More and more large law firms are referring clients to me that are contemplating these alternatives. Since, for various reasons, I am rarely interested in representing the company after it goes public (in part it is because of potential conflicts with our industry leading PIPEs practice which only represents investors and broker-dealers), these firms are comfortable allowing me to come in as “special counsel” while they remain on board with their client as general counsel, working with me on the deal. Once the company is public, I skeedaddle and the client returns to its capable big firm attorney.

The second and a half reason is this. Every deal needs at least two lawyers. Often it is the lawyer for one side who recommends me to represent the other side if they are not already “lawyered up.” I also appreciate these relationships in helping me refer business back when I have the opportunity.

So thanks big firm lawyers and I hope you remain loyal blogees (somehow this reminds me of the great “real men of genius” ads). But remember, I get the stats and I know you’re out there!!

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