As we prepare for the much-anticipated Silicon Summer social event, we’re excited to highlight one of our partners: Square One Law, a certified B Corp commercial law firm with offices in Newcastle, Leeds, and Darlington. Their focus is not just to provide high-quality service but to find solutions, add value, and support clients as and when needed.
This interview delves into Square One’s great work with tech companies in the region and gives an insight into the legal side of startups.
Interview with Riz Shahid, Trainee Solicitor at Square One Law
Q: Can you tell us about your role and background?
A: I’m a trainee solicitor specialising in tech law, and I’m set to qualify in September 2024. My focus is on supporting startups and growth-stage companies with a wide range of legal matters, from contracts to intellectual property and everything in between that’s tech-related.
Before starting my legal career, I spent several years recruiting for tech startups across the North East and Yorkshire, which gave me a deep understanding of the tech ecosystem and the challenges these businesses face.
I take great pride in knowing that I’m playing a part in someone’s success story
Q: What inspired you to get involved in supporting startups?
A: I’ve actually been in the trenches myself, having started a business that, unfortunately, didn’t succeed. I remember how tough it was to juggle everything, and that experience really stuck with me. I once heard someone say that the success of a startup isn’t just about the business idea or the individual running it—it’s also about the support network around them.
That really resonated with me. When I later pursued a career in law, I wanted to combine my passion for tech and law with my desire to support the businesses that need it most. For me, it’s not about working with big multinational corporations, even though they might bring in more money. It’s about getting real satisfaction from helping entrepreneurs on their journey.
Right now, I love what I do, and I take great pride in knowing that I’m playing a part in someone’s success story.
Q: Can you tell us about Square One Law and its history in the tech space?
A: What appealed to me about working at Square One Law is that they are driven by their values and doing the right thing for their clients. We have a saying at Square One which is ‘we protect and help our clients’ business as if they were our own’. We were a start-up ourselves not that long ago and so can very easily put ourselves into our clients’ shoes.
We provide the region’s tech businesses with high-quality jargon-free legal advice, helping them protect what matters most. Our work within the tech space has been varied from start-ups and accelerators/incubators to multinational tech companies. We have helped innovators in renewable technologies grow and secure investment, software businesses to protect their valuable intellectual property, manufacturers of cutting-edge technologies to secure premises, and guided start-ups from development through to successful exit.
Startups today face some serious challenges
Q: How does Square One help startups? Can you share a success story?
A: At Square One, we get that startups have to make every penny count, so we focus on delivering legal advice that’s practical and cost-effective. We’re here to help with everything from setting up your business the right way, drafting contracts that protect you, securing your IP, and guiding you through funding rounds as you grow.
Obviously, we cannot share any names, but one success story that stands out involves a local tech startup we were introduced to through another client. They knew they had some issues with their contracts and were also concerned about the state of their intellectual property. We started by conducting a thorough contract and IP audit to identify the risks they were facing and to figure out what needed to be done to mitigate those risks. After we pinpointed the problem areas, we worked closely with them to put a plan in place that addressed these concerns, all while keeping things cost-effective.
Following the success of this initial project, we’ve now become their go-to legal advisors. We’re currently supporting them on their next round of funding, and it’s been amazing to see how far they’ve come since we first started working together.
Q: What are the biggest challenges you see startups facing today, and how do you help them overcome them?
A: Startups today face some serious challenges—securing funding, managing cash flow, keeping up with regulations, and protecting their intellectual property are just a few. One of the biggest challenges is balancing the need to grow fast with the need to build a solid, legally sound foundation.
That’s where we come in. We help startups navigate these challenges by offering legal advice that’s not just about ticking boxes but about setting them up for long-term success. We make sure your contracts manage your risk, your data protection is on point, and you’re ready to scale minimising the risk of any legal roadblocks.
Q: What common mistakes do startups make, and how can they avoid them?
A: One big mistake we often see is startups not prioritising the legal aspects of their business early on. It’s understandable—when you’re focused on building your product, finding customers, and securing funding, the legal side can seem like something that can wait. However, neglecting it can lead to significant issues down the line. For instance, not properly documenting agreements with co-founders or investors can result in disputes that could have been easily avoided—and I’ve seen this happen far too many times.
Another common mistake is delaying the protection of intellectual property. In the tech world, your IP is often one of your most valuable assets, and failing to safeguard it can have serious consequences.
To avoid these pitfalls, it’s important to seek legal advice early on. I’m always available to chat with anyone who needs guidance on what steps to take to protect their business.
Q: What key message would you like to share with the readers?
A: The key message I want to share is that building a successful startup goes beyond just having a great idea—it’s about executing that idea with the right support around you. The legal aspects might not be the most exciting part of the journey, but they’re absolutely essential for your long-term success. By investing time in creating a solid legal foundation, you’re not only protecting your business but also setting yourself up for sustainable growth and success.
At Square One, we’re here to support you every step of the way, helping you navigate the challenges and seize the opportunities that come with building something remarkable. We’re in this with you, and we’re genuinely excited to see where your journey takes you: https://squareonelaw.com/
We are grateful to Riz and Square One for sharing their insights and support for Silicon Mingle. Join us at Silicon Summer on August 29th at The Grove in Byker to meet the Square One Law team and engage in more inspiring conversations.
Get your tickets here: siliconsummer.com