Allens launches startups practice

Allens has today officially launched its Allens Accelerate practice, devoted to assisting startups and emerging companies.

The Allens Accelerate practice, led by Sydney-based Partner Gavin Smith, will provide a range of legal services to solve the problems faced by startups by ensuring legal guidance is affordable, accessible and efficiently delivered in line with the startup's needs.

These legal services include The A-Suite, a suite of essential legal documents specifically drafted for startups. The A-Suite is being made available on a free and open access basis to startups. The services also include fixed price legal services designed to help startups get incorporated, customise the A-Suite documents and to protect their intellectual property.

'We see our Allens Accelerate practice as a strong commitment and investment into the startup community,' Gavin said.

'The goal is to not only help startups get off the ground, but to build a long-term relationship where we can bring to bear the expertise and contacts we have at our firm during the different growth cycles of a startup.'

Gavin said that startups would often overlook top-tier firms because of concerns over cost.

'We totally understand that startups don't have much money to spend on lawyers and in the past that was a legitimate concern. However, we have been mindful of that and made sure our Accelerate offering is in line with the price expectations of startups.

'Most importantly, the initial A-Suite of documents are completely free. These documents include a constitution, shareholders' agreement, website terms and conditions, a privacy policy, employment contracts and other documents that are crucial for any business just getting off the ground.'

'And once the startup is up and running, we will also offer innovative fee arrangements which run in line with the lifecycle of a startup's funding arrangements.'

Gavin said that the launch of Allens Accelerate coincided with an increased focus on the potential of startups to drive the Australian economy.

'We are obviously seeing a significant change in the Australian economy at the moment. Part of this is the desire of federal and state governments and business to drive technological change and innovation in goods and services. But it is also reflective of an increasing access to capital for startups in Australia and a real entrepreneurial buzz in the sector.'

In the past two weeks, Allens had been involved in three large deals in the Australian market involving fast-growth companies, having advised on the acquisition of Dimmi by TripAdvisor, the acquisition of Menulog by Just Eat Plc and Redbubble on its $15.5 million capital raising.

The launch of Allens Accelerate comes two months after Allens signed on as a foundation corporate partner and the only law firm in the Sydney-based Stone and Chalk fintech startup hub.

Stone and Chalk will provide a range of services to support Australian fintech start-ups to grow and succeed, including subsidised working space, industry networks, expertise and mentoring, and access to capital.

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