If some professional services firms seem more like venture capitalists these days, there's good reason. Dazzled by the rapid rise of the high-tech economy, firms are in hot pursuit of business from Internet companies. To get that business, lawyers and other professionals are pouring time, effort and sometimes even their own money into online startups in search of a lucrative new source of professional fees and, perhaps, of latching on to the next skyrocketing IPO or billion-dollar buyout.
January 07, 2000 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
To see how professional services firm are latching on to the Internet economy, consider the law firm Edwards & Angell in Palm Beach.
In dealing with certain Internet clients, the firm has been discounting its hourly rates, taking stock in lieu of fees and developing a yet-to-be-announced investment fund specifically for Internet startups.
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