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    Power Partnerships
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Delivered by Walt Wright @ the                             h


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 When times are tough…
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 People seek power
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 And misery loves company
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 Define the term partnership

 Explore the conditions that support partnerships
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 Explainrfie partnership ;J1 rJk;??J
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 Explain rfJ skills and knowledge needed for effective partnerships
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 Identifyrfie rii J most commonJb] ii rki i r
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 r -pI?JJn fJrJ`J`1how experience tells us these problems may be overcome
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 What is a Partnership?
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 Why Lawyers don’t like the word?
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 Where does the Power come from?
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       the non-partner Partner language ….                                                   r
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      Legalese to the extreme….
               “The use of the word “Partner”rt]J? this Agreement means a
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           Strategic Alliances
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 “We are partners.”
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 A PWC study showed that 43% of the companies that launched
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                                                         partner can
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        What are the objectives?
        Revenues
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        Long term
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   Access to technology
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   Use of sales force                        deal
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                                              development, IP value, even
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   When you team] up with 's] Jrt]?1 business, one plus Jt]? s]t]can equal three.
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   Youdw]'r I] l`I have to hire more people than you need or dE',`l?Arp costly in-house
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   Analyze where a partner might quot;help.
    ref ?]] J-!'     ` vki quot;      ?! ? ?]r rf] ' r HiJ J t1 r L J;?,

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                                                                                  s11
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    Protect yourself. Your intellectual property and proprietary
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    information and operation autonomy need protection.
 Alliance Agreements
 Joint Ventures
 Creeping Acquisitions
 Licensing Agreements
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 Co-Marketing Agreements
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 Don’t pin all your hopes on any one
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  partner deal
 large corporate partner company may
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   Big companies…little people
              I


   Middle management/senior management

      T,T
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    Different objectives…personal…divisional….
            r
                
                    l
                        I   J   I J
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   Tie up the tech while they look for better or
    develop their own
i
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 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
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                    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
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 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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Walter Wright Attorney On Joint Ventures

  • 1. 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
  • 2. 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
  • 3. 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
  • 4. 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?
  • 5. 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
  • 6. 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
  • 7. 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.
  • 8. i TRINITY /// LAW (;ROUP Li.c  What are the objectives?  Revenues I  Near term J Xi r rrri  Long term
  • 9. 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
  • 10. 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.
  • 11. _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.
  • 12.  Alliance Agreements  Joint Ventures  Creeping Acquisitions  Licensing Agreements it riirij quot;? 1'? lli rJ  Co-Marketing Agreements JrJ iii -?. Beat The I Ed s
  • 13. 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
  • 14. 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
  • 15. i Jb/Y /// /  keep the goals in line  acknowledge the risk  focus on the opportunity  realistic and pragmatic accessment
  • 16. 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
  • 17. 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”