A set of legal documents for start-ups
Allens Accelerate is a legal practice dedicated to supporting the Australian startup community by providing a range of free and cost-effective legal documentation, advice and policy commentary.
Allens Accelerate assists startups from beginning to launch and beyond in all areas of corporate law, fundraising, intellectual property, data protection, employment, tax and other issues that affect emerging companies.
The Allens Accelerate services are comprised of the following:
- The A-Suite, a suite of essential documents specifically drafted for startups, together with user-friendly guidance notes. You can access these at no cost.
- Fixed price Getting Started services, including company incorporation, ABN/TFN/GST/PAYG registration and registered office services.
- The A-Suite Tailoring Service, a fixed price legal service to help you customise the A-Suite documents for the specific needs of your startup.
- A fixed price Intellectual Property Protection package, including an hour consultation with our IP experts.
- A fixed price subscription Hotline service to discuss, and seek advice on, all legal aspects of your business.
In May, the firm launched Allens Accelerate, to provide an accessible service to technology start-ups that could not otherwise afford its hefty fees.
In contrast, Smith says, the Australian start-up community has not been as well served or supported by law firms.
Smith says the “quid pro quo” for accepting reduced or deferred fees is that clients continue to use Allens as they grow although there will be nothing to stop them shifting their business elsewhere down the track.
Smith says his team is looking for start-ups established by people with a pedigree or track record or those already accepted into an incubator or hub program.
One of the firm’s new start-up clients is Sydney-based business Raincheck, which aims to solve the problem of online shopping-cart abandonment.
Smith, who became a partner at Allens four years ago after arriving from Britain in 2008, admits he had to convince some colleagues there was an upside to giving away the firm’s valuable intellectual property.
Allens chief executive partner Michael Rose says the firm’s focus on the start-up sector has not been prompted by the extraordinary changes that have been occurring in the legal sector.
Rather, he says, the firm is aware how much its existing clients are paying attention to the start-up space and it wants to be in that space with them.
He is enthusiastic about the health of Australia’s start-up community and says the decision of the NSW government and several big corporates, including Allens, to back new fintech hub Stone and Chalk is “fantastic”.
But Smith says start-ups looking to raise later-stage funding of more than $10m are still often forced to look offshore and he would “dearly love” for the government to do more to solve this problem.