The protagonist of our interview on this occasion is LAWESOME, sponsor of the Barcelona Contech Hub.

LAWESOME is a boutique specializing in innovative legal services that combines legal knowledge, technology, and a modern vision of law for corporate operations. It offers clear, efficient solutions adapted to the needs of each client, with a close, agile and results-oriented approach.

Welcome Robert, to our interview space

1. To begin with, could you briefly tell us what Lawesome is and what is your value proposition within the legal sector?

We are a boutique legal services for complex corporate operations. Our philosophy is to facilitate transactions for customers, focusing on what really has value (e.g. the agreement, the business) and with a clear vocation to reach the agreements that our customers are looking for. The differential fact is that we understand the different business models and we know how to adapt to implement the best legal structures that cover and facilitate these businesses.

2. Lawesome specializes in merger & acquisitions, venture capital and funding rounds. What type of customers do you usually accompany and at what point in their growth?

We have three main types of customers. Firstly, the “traditional” company understood as that already consolidated corporation that seeks inorganic growth, via acquisitions, or that seeks a sale, mainly due to a lack of generational replacement. Secondly, investment funds and family offices, which we help in all their investment operations, especially in startups from the Seed phase. And finally to the founders of startups, where we support them in the negotiation and closing of funding rounds. Usually, the startups we support are usually companies from the Seed phase onwards and with funding round amounts close to and greater than one million euros.

3. What sets Lawesome apart from other law firms when it comes to advising investment funds and entrepreneurs on complex transactions?

I would highlight our ability to focus on what is really important and the knowledge we have of the different business models, which makes it easier to adapt a more tailored service by understanding the particularities of each client. Obviously, all this would not be possible without the high legal specialization and excellent preparation of our team. In addition, given that in our day-to-day we advise both investment funds and startups, we are used to being on both sides of the table and this allows us to understand very well the position of each party, an issue that facilitates reaching good agreements. In addition, our knowledge of the sector means that we are very accustomed and in daily contact with the usual market practices, so that we can weigh very well the suitability, or not, of the agreements that we want to propose.

4. Focusing on startups: what exactly are the services you offer to entrepreneurial projects, especially in the initial and growth phases?

Our support varies depending on the specific phase of the startup. Specifically in the initial phases, we provide support in various issues such as: implementation of incentive plans for key employees (Phantom Plans and/or Stock Shares), negotiation of Shareholders’ Agreements (between founders and/or with first investors), advice on first rounds of investment, support in recurring contractual matters of the startup’s day-to-day life and support in intellectual property and data protection.

5. From your experience, what are the most common legal mistakes startups make in their early years, and what practical advice would you give them to avoid them?

The most common mistake that continues to be repeated would be summarized in two points:

1. Not having a partnership agreement between founders. We all know that in an initial stage the most important thing is to focus on the business and, therefore, allocate all efforts to validate an MVP and be able to go to market as soon as possible, however, having a partnership agreement between founders is still a pending issue for many entrepreneurs and, unfortunately, Then we see how it brings problems in the future. If one of the partners wants to leave halfway and there is no shareholders’ agreement, it always involves great friction and a good problem for the founding team that remains, apart from the difficulties that this entails of closing a round of financing with a captivable that has dead equity (founders’ shares in the company, who no longer work there). On many occasions you see that they do have partner agreements, but they are agreements made with funds of dubious reliability and that you can see that they do not foresee the main issues that should be regulated by this initial partner agreement between founders (e.g. roles of each founder, decision-making, reverse-vesting, permanence, among others).
2. Signing a Term Sheet (TS) with an investor without having had legal support. It is very important that before signing a TS you are accompanied by a legal team by your side that will advise you and give you the necessary comfort to be able to sign this investment pre-agreement with peace of mind. Although the SC is not binding in most of its clauses, it is no less true that the terms agreed there are terms that will later have to be reflected in the Shareholders’ Agreement and Investment Agreement, so it is very important to have a legal team that validates and negotiates by your side to defend your interests.

6. In the event that startups need international support, can you help them from your office?

When we are dealing with international operations, we always provide legal support from the perspective of Spanish regulations, and we have collaborations with different local boutiques in different countries to provide this 360° support to the client.

7. Focusing on the ConTech ecosystem, how do you assess the evolution of this sector and what opportunities do you see in the short and medium term?

It is a sector that, given its complexity and ways of acting, has taken longer to adapt, but precisely for this reason it represents a great opportunity, both for the investment part to be able to participate in the paradigm shift and be part of innovation, and for the entrepreneurial part, since there are many areas of the ConTech sector with high potential for innovation and growth that will help to achieve greater efficiency in the sector.

8. Do you think ConTech startups have different legal needs than other tech startups ? If so, how do they differ mainly?

Undoubtedly, each sector has its particularities and ConTech is no exception. In this particular sector we would highlight two important aspects to take special care of: 1. International contracting; 2. Intellectual Property.

9. What does LAWESOME’s participation in the Barcelona ConTech Hub mean as one of its ConTech Sponsors?

For us, it is an opportunity for which we are very grateful. We really like being able to be close to centres such as the Barcelona ConTech Hub, as it allows us to interact first-hand with entrepreneurs in the sector and to be able to help them in their process. Our goal is to be able to share those common mistakes that we have seen over the years in order to prevent them from happening again and to be part of the training and growth of high-impact entrepreneurial projects such as those of the Barcelona ConTech Hub.

It has been very interesting to learn more about LAWESOME and your way of understanding law. We are sure that our readers take away a very clear vision of your project. Thanks again and see you soon.