Wy'East Law Firm

Law Firm Business Plan

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Executive Summary
Wy'East Law Firm (WLF) is a boutique technology law firm located in Portland, Oregon. The
firm will be lead by Richard Bloom, a seasoned attorney previously with (name omitted)'s e-
group. WLF will service all needs generated by technology firms, with specialization on mergers
and acquisitions and qualified stock option plans; and handles both start-up and established
companies.
In addition to WLF's technology practice, we will offer public interest legal work at subsidized
rates. The technology practice will allow the firm to be able to provide public interest
organizations legal help at the cost of overhead.
WLF is a limited liability company founded and lead by Richard Bloom.

1.1 Objectives
The objectives for WLF for the first three years of operation include:
 1. To create a law firm whose primary goal is to exceed customer's expectations.
2. To develop a client list that includes at least 20 companies, each with revenues of over $3
million.
3. To increase the ability to serve public interest organizations each year.
4. To be able to offer each year some legal services at a subsidized rate.

1.2 Mission
The mission of Wy'East Law Firm is to provide the Portland community with technological and
public interest legal guidance. We exist to attract and maintain customers and to support the
public interest community. When we adhere to this maxim, everything else will fall into place.

Company Summary
WLF is a law firm serving technology companies and public interest organizations, and will
subsidize its public interest work with local companies. WLF specializes in mergers and
acquisitions as well as stock option plans, but can handle most legal needs for a technology
company.
The technology work will subsidize the company's public interest work which will be billed out
at the cost of overhead.

2.1 Company Ownership

WLF is a limited liability company, owned solely by Richard Bloom.

2.2 Start-up Summary

WLF's start-up costs will include all equipment needed for the home office, website creation, and
advertising.
The home office equipment will be the largest chunk of the start-up expenses. This equipment
includes 4 computers, a fax machine, copier, cellular phone, office supplies, additional land
line, a DSL connection, and office furniture.
Start-up expenses will also include advertising. Two methods will be used: a content-only
website and the Yellow Pages.
Start-up Requirements

Start-up Expenses

Legal $0

Stationery etc. $100

Website creation $500

DSL installation $150

Office equipment $500

Rent $0

Research and development $0

Expensed equipment $0

Other $0

Total Start-up Expenses $1,250

Start-up Assets

Cash Required $18,750

Other Current Assets $0

Long-term Assets $5,000

Total Assets $23,750

Total Requirements $25,000

Start-up Funding

Start-up Expenses to Fund $1,250

Start-up Assets to Fund $23,750

Total Funding Required $25,000

Assets

Non-cash Assets from Start-up $5,000

Cash Requirements from Start-up $18,750

Additional Cash Raised $0

Cash Balance on Starting Date $18,750

Total Assets $23,750

Liabilities and Capital

Liabilities

Current Borrowing $0

Long-term Liabilities $0

Accounts Payable (Outstanding Bills) $0

Other Current Liabilities (interest-free) $0

Total Liabilities $0

Capital

Planned Investment

Investor 1 $25,000

Investor 2 $0
Other $0

Additional Investment Requirement $0

Total Planned Investment $25,000

Loss at Start-up (Start-up Expenses) ($1,250)

Total Capital $23,750

Total Capital and Liabilities $23,750

Total Funding $25,000

Services
WLF will provide provide law services to two different groups of customers.
1. Technology law services. WLF will provide legal services to high technology clients, to
both start-up companies and established firms. While the firm excels in mergers,
acquisitions, and qualified stock option plans, we also have experience in almost any
legal field that a tech firm encounters. These clients, billed at market rate, will subsidize
the public interest clients.

2. Public interest law. WLF will serve regional public interest organizations, with a
concentration on environmental and civil rights organizations. For most public interest
organizations, good legal help is expensive. By using technology clients to subsidize the
cost of legal fees for public interest firms, WLF is able to make significant contributions
back to the community.

Market Analysis Summary

WLF's customers can be divided into two groups, technology firms and public interest
organizations.
1. Technology firms. New clients are likely to be from small technology firms or start-up
companies. The reason for this is that the larger tech firms usually will go with one of the
larger law firms in town because a large firm can offer them a wide range of services and
do all of the different types of work that is needed. This type of customer sees an
advantage for one firm handling all of their needs, and rightfully so. A smaller company
has fewer overall legal needs and can be serviced by a boutique firm. A start-up might
also be attracted to us because of our willingness to accept equity as partial payment for
services rendered. Clients that were brought over to WLF from Richard's old firm are
typically small firms, but there are a few larger companies that are using this firm for
some services and kept some other work at (name omitted), where Richard practiced
before.
2. Public interest organizations. These clients will be diversified, some are environmental
organizations others are civil rights groups. While some public interest organizations
receive their legal services for free (pro bono) from some attorneys, there is an extreme
shortage of legal help for these organizations. Therefore, it is quite attractive to these
organizations to have the possibility of receiving top legal help at a subsidized rate.
Attracting these clients will not be the problem, the difficulty will be for Richard to select
which organization will receive his help.
4.1 Target Market Segment Strategy
WLF will be targeting high technology companies for two reasons.
1. Although the economy has taken a recent plummet, particularly technology firms,
technology is still a growing sector of the economy. This is evidenced by the fact that 17
out of the top 25 fastest growing companies are technology firms, according to The
Business Journal of Portland.
2. Technology is Richard's area of expertise. Richard practiced law at one of the top three
law firms in Portland and was in their e-group, concentrating on technology firms. His
experience, coupled with his network of colleagues within the industry, makes
technology firms attractive customers.

WLF will be targeting public interest organizations for one simple reason, a desire to give back
to the community. Public interest work is inherently altruistic to some degree. Generally, the
person performing the work receives a good feeling for his/her contribution, but in today's
capitalistic society, someone who donates his/her time at far below market wages should be
considered altruistic.

4.2 Service Business Analysis

The technology law practice is fairly competitive in Portland. Most larger, more prestigious firms
have attorneys who specialize in technology. Some smaller firms also have attorneys who do
work for technology companies. Lastly, there are boutique firms, like WLF. As a service-based
industry, the practice of law is driven by personal relationships and reputation. Potential clients
choose attorneys based on reputation and who they are familiar with or are recommended to.
Therefore, if the attorney is providing better service to a client, the client is likely to form a long
lasting business relationship with the client.
Clients typically switch attorneys only if they are unhappy with their current attorney. New
companies find attorneys through networking: who they know or who their friends know.
WLF has the advantage that when Richard left (name omitted) he brought 15 of his clients,
which, for now, are almost enough to survive on.
Strategy and Implementation Summary
WLF will be courting new technology clients through networking and advertisements in the
Yellow Pages, Business Journal of Portland, and other technology specific regional journals. As
stated earlier, WLF has a sufficient amount of business at day one, however, more technology
clients means the ability to perform more public interest work.
Richard will be attending the Portland Venture Group meetings as well as other informal
gatherings of technology companies to network with the different technology firms in the region.
These networking activities along with advertisements in appropriate media forms will allow
WLF to steadily grow their list of clients.

5.1 Competitive Edge

WLF's competitive advantage will be based on two factors, experience and specialization:
1. Experience. Richard brings to WLF three years of practicing technology law at a top firm
in Portland. Reputation carries a lot of weight and Richard's time at (name omitted)
means a lot in the Portland legal community and is very attractive to prospective clients.
Additionally, beyond the reputation of working for a coveted firm, is the fact that the
three years spent at (name omitted) provided Richard with big name clients.

Specialization. As a boutique firm that concentrates on technology companies, WLF is in

a desirable situation because it's knowledge base is considerable, relative to other firms
that practice a wide range of law.
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5.2 Sales Strategy

WLF's sales strategy will begin with months two through five with the goal of serving the
existing customer base of clients. The absence of bringing in new clients during this time is
purposeful, it allows WLF and the existing clients to form a new relationship at WLF, different
from their previous relationship at (name omitted).
Month six will signal WLF's conscious effort to generate new clients. Using the previously
mentioned networking techniques, Richard, through personal communications, will convince
prospective clients of the value of a boutique technology law firm, specifically the depth of
knowledge and the close attention that the client will get when dealing with a small firm.
Regarding the public interest organizations, there will be less of a sale strategy, more of a
choosing of the organizations that Richard wants to represent. There are so many needy public
interest organizations that Richard will have to pick and choose those that he wishes to help out.

5.2.1 Sales Forecast

The first month will be spent setting up the home office. This will include setting up the office, a
conference room, and all of the computer equipment. During the first month, Richard will also be
serving some existing technology clients and some public interest clients. We project that if we
spend 1/3 of our time on the technology clients, this would sufficiently subsidize the public
interest clients so we would only have to cover overhead expenses.
By month six, Richard will begin actively soliciting new clients. Between months one and five
he will continue networking, though will not be actively seeking customers. From month seven
on and there will be a slight increase in clients taken aboard. There will be only a slight increase
so as to create solid relationships with the new and existing clients. Richard will be cognizant of
the possibility of growing too fast and not being able to offer the same quality service to his
clients.
5.3 Milestones
WLF will have several milestones early on:
1. Business plan completion.
2. Set up home office.
3. First month of total technology subsidy.

Management Summary
Wy'East Law Firm is an Oregon Corporation founded and run by Richard Bloom. Richard has a
degree in Political Science from the University of Colorado, Boulder, and a J.D. from Lewis and
Clark University. While at Lewis and Clark, Richard was the President of the school's Public
Interest Student Organization. It was through this organization that Richard became fond of
public interest law. After graduation, Richard went to work for (name omitted) for three years in
the e-group which concentrated on technology. While working in the e-group, Richard worked
on technology issues with a number of well known start-up organizations and established
companies.
One of the perks working at (name omitted) was his ability to do pro bono work which counted
toward his required yearly billable hours requirement. Richard has spent a fair amount of time
with 1000 Friends of Oregon and other public interest organizations. After three years however,
Richard was feeling constrained and desired more autonomy. He decided to leave and start his
own firm. Richard was able to bring a fair number of his clients from (name omitted) to his new
firm, helping the transition from leaving an established practice to hanging out his own shingle
and starting over.

6.1 Personnel Plan

The staff will consist of Richard working full time. In addition to Richard, a part-time secretary
and part-time paralegal will join WLF by month two. Month four will bring WLF a law clerk,
and a second law clerk by month eight.

Financial Plan
The following sections will outline important financial information.

7.1 Important Assumptions

The following table details important assumptions.
7.2 Projected Profit and Loss
The following table and charts present the projected profit and loss.