Published on December 15, 2008
Ar mimml I O 'N I quot; 4;cwA TRINITY Power Partnerships ]VE1JtV?'r??rr Delivered by Walt Wright @ the h TiE-Boston Business Summit ?J?- OE 1 ?!J JII ? !]Milli]-r
TRINITY LAW GROUP I LC When times are tough… J J/`? I ?f ??f ?J ?l?r rJ!? fJ J J People seek power J r /JPJ? J?? f r And misery loves company
o TRINITY 1.1XV (SRO UP LLC Define the term partnership Explore the conditions that support partnerships <;JJ 47 r J ki JJJIJ?j Ij rkJ?Jr !ipp r ;JSJJL fi-e1 Jk p Explainrfie partnership ;J1 rJk;??J -JJii the ;J?J1 ?fJ?1 ?f?J;J process Explain rfJ skills and knowledge needed for effective partnerships ?s;JJ?J?ii the ; loll kn D Identifyrfie rii J most commonJb] ii rki i r J deii UJf j the r ?;JriiriiJf?;J1 problems that partnerships face ?J1 rii r JfJJ;J J J?Jr;e r -pI?JJn fJrJ`J`1how experience tells us these problems may be overcome J Explain ??<;J?1J?fJ?;? r?J =J rfJ?J? rJ1'Jf etIJJ tIJ-JJ .' a , ic B eat e Odds How to urvive & thrive in this c' no rr.y
4t2l TRINITY LAW GROUP LLC 1-i®1 • What is a Partnership? J/??J 4- P i riiiu ?!r Why Lawyers don’t like the word? ly ! rri'? r ? Where does the Power come from?
i _4 tol TRINITY 7,! LAW GROUPLIX the non-partner Partner language …. r ic /p, ?. ft/fnj r fflJ J J Legalese to the extreme…. “The use of the word “Partner”rt]J? this Agreement means a rt]? ! 2 J rt]? `JC) ??]frf]'?,sM J? in ?Jr ;ff]??]r ff] N If]J ?J ]r -,]f] rJ ?J ]rj -,] partyr to this Agreement and does not create a partnership p Ifry rJ J f] f] Jr ;J?]frf] J ] ;J rJ between the parties. Furthermore, each Partner shallr]? rJ??`?`J??f] rt]? ?= frJ?? rLisLh fft]Jf quot; ??JCJJ? P?J1rf]?fquot; ?I]?JJJ have no partnership or rJj !JCJ?]f] J?JJJJ f]rJ ?J?]f?f]?fquot;?I]J J J1' fiduciary obligations to?I]?. rJ?t]?i J J J ?JJr]? J ?J the other Partner ??]f?f ?f D-r -My JrjIJJ -], J f]J, CJ!Jri? JI]? D-r jprIJJJJ or any other obligations, duties,, rights or privileges -J t]] Jrt]:-L)1' imposed under the Uniform Partnership Act or any other J Jff] JJ?.?J ir]d- f rt]? ufJJ1Jrff] J r+ ?- ? ??lfrf]?1 JI]J r??'r rJfquot; J ,J f J Ji C] C ! J r] CJ :-L)f f applicableJ law, except?as expressly provided under this ?J;J;J J? ? ?J ?J quot;?. J ?•J? ? f ?J ??? ?J IJ ? J J Y] J ?] `?`J, Jff]?f]rJJJ ?] Agreement.” quot;? Beat? The Odds H ow to urvinre & thrnre in this c>> n o mgr • rr
TRINITY Strategic Alliances rr JG ?- ?r? 1?J i ?1 “We showed MonopolySoft our Proprietary JDP?Uy aft they r ?lJJy J?1? ?r aT]r1 ?1 Business Model and they really liked it.” “We are partners.” J? p1 1J 1l 1quot; pElffL1
LAW GROUP LLC A PWC study showed that 43% of the companies that launched 11SrIj?) is ??::-,3jJ I'J?i !J_,r breakthrough services and products did so with outside ?1' ? ciici ?J? all Jri 1ri collaboration. J-?j'r “It's ?? `J f] ]J lopsided picture in favor of companies `J` i Y Jr1?J1' or / a very ?Jr]ir]?JJ?'?!J?'? ?rJ ?1r]J ? with one more strategic partners,'' says Pete Collins of PWC. “A good rule of thumb is that a good strategic rr]ir c iri ?r?I??rjic rj jj partner can Jv? double the value of your company,'' says James Atwell of PWC.
i TRINITY /// LAW (;ROUP Li.c What are the objectives? Revenues I Near term J Xi r rrri Long term
Ar ON I O TRTX!/ LAWS GROUP L LC Access to technology j jJJ? VCs think it is a good i ?? J ? JJ fJ J idea…..manyr times it is….. ? J J? -.-J J Sales J ?1 J f _... ? J rJy J J • J ?1 J J J J rrJ ?1 I Cross selling, up selling Practice working on a1big l'rJf v,??JII ?IfI ? JfI 6 -?:: Use of sales force deal Free mentoring Feedback in product r-1 ?- -i Jf] J development, IP value, even J J J pf fI Jf ] r J J / r1 I I / J -S I J J) Image credibility strength of team
i _1- 1 TRINITY LAW'' GROUP LLC When you team] up with 's] Jrt]?1 business, one plus Jt]? s]t]can equal three. W yr, .Jt? ] it] ! `J J rt] another 1?Jt] J ;?l! ]? one ??! J 1 i,? ij'?) ?jv =]ii ]r, X )rrf] rig rr?]r?_- gi? Companies of all sizes are forming strategic alliances. J You can JDg?s -]r]d act bigger than you are. I] look and Accomplish what you can't alone--often more quickly and profitably. ]j ,;ISJV l ] ?nrDf i ] D, Jy. r id '- po r' r? ?? ifs a]rj r Can be an effective way to pool resources and cutr,?:fJ f fj r,!]r costs. 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, rtl?)r 1'O!] ) () ?;L)rf] 's]r]J ?; By filling rr]::,the blanks, a] group of companies can offer up new products. E y filling JJ.]r]ISJ, ] DT.T?-r Lip r]Sw I Youdw]'r I] l`I have to hire more people than you need or dE',`l?Arp costly in-house Ygu don't [ I]J1quot;? rj gpJ rl]?]I] ]J!J r]IEquot;d ?)r develop expertise. ??]?rr]?r?r?i;?? Jar y0!] ,- Partnerships let you stay r]]rl r Je a]r]?J flexible, bringing in the right players for r ]y nimble and ? b rr]e j job YJ ]r] d, the h au at hand.
_4 tol TRINITY LANV GROUP LLC Analyze where a partner might quot;help. ref ?]] J-!' ` vki quot; ?! ? ?]r rf] ' r HiJ J t1 r L J;?, r r? `ii you r Are .J Wt] i,shut outr ?? certain iii i s? r ; ?! J of r?1Jf] markets or?Jf] rr? ? r ?r contracts? Do you f]?j?]re r Ja specific function, talent, resource? !] need -] 1 f!]f]jrkf], Explore the relationship carefully. )s ,1Ji] ilp _r D-] JJJ d - -]f] d Make sure capabilities and strengths are complementary. rr?f] J rf] ` s11 ?Jri]J ri] quot;] r?]rJ, Document ??]r ] E11 c and use a lawyer. ' LiL1]?f] r ?; clearly ! How `J`JJJJyoudJ`iid D`jv ]:mss will JD!] divide authority, duties, and costs? ?S]!JfiD r?<;Jr J)! ]r ??iii ]f] d Express your goals and expectations--and create plans and;?? r?] rJ ?f]JJJ?]fj?J ?;r EI r ;?]?]f] ?]f] d benchmarks. P i c i J?! ]r??]f, Y?! ]r Ji] r Jisc;r!]i]J ufou r Protect yourself. Your intellectual property and proprietary Jfr??rrn EIi i ?f] ?]f] ?J ?;??s iU ?]!]rcJf]cfl]J f]?? information and operation autonomy need protection.
Alliance Agreements Joint Ventures Creeping Acquisitions Licensing Agreements it riirij quot;? 1'? lli rJ Co-Marketing Agreements JrJ iii -?. Beat The I Ed s
TAL1A////) LAWS GROUP I,I.C Don’t pin all your hopes on any one y?) partner deal large corporate partner company may ,#,I -rj ? r,; ?) p, ffj-.0 r-;r - fj ::-, --.# -.01fly fir r -P ? ] be dangerous ] IflF
TRIr LAW GROUPLIX Big companies…little people I Middle management/senior management T,T J rj rj Different objectives…personal…divisional…. r l I J I J r ` /r A l¦ / l Tie up the tech while they look for better or develop their own
i Jb/Y /// / keep the goals in line acknowledge the risk focus on the opportunity realistic and pragmatic accessment
LAW G1ZOU1'LLC Stockholm Syndrome J?1 l?J ff] fYnjJ!HJ X Pay attention to groupthink & your team’s ?]y -t-lrr l1 rJJ l rJ I I I? I rJ! n1 I 1 1S <?? JOLIf 'r Elll pE ych. , . INJr ?] Tl ?lrri i psych…Not a marriage…and that’s a good , , ?1n?? rl]?lr? ? ?l g J? d thng thing
T;1 1 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”
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