Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Lastminute.com and drParsley.com may both be well-known dotcom companies, but they have different opinions about the wisdom of inviting external legal advisers to take shares in their clients instead of fees.In one corner is Lastminute.com, whose advisers are Bird & Bird and Linklaters & Alliance. The company has grave reservations about the trend, and has not invited the firms it instructs to take its shares instead of fees.DrParsley.com, on the other hand, thinks it is a good idea. It willingly gave its lawyers, Field Fisher Waterhouse, a stake in the company in lieu of fees.So far, more law firms have come out in favour of the shares-for-fees option than have publicly rejected the option.The reasoning behind this is that as fledgling clients are short of cash in the early stages of their development – it is a good idea to give their legal advisers shares instead of fees, thereby allowing them to reap the rewards for their patience at a later stage when these clients ‘grow up’ into a multi-million pound company.In a volatile market with senior associates and partners enticed away to start-ups with the promise of large stakes in them, firms are also keen to take shares in an effort to hold on to their e-commerce stars.Unthinkable 10 years ago, the pace of change in the e-commerce market has forced a rethink of the traditional lawyer-client relationship.

This premium content is reserved for
Legal Week Subscribers.


  • Trusted insight, news and analysis from the UK and across the globe
  • Connections to senior business lawyers within the leading law firms and legal departments
  • Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
  • The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
  • Optimized access on all of your devices: desktop, tablet and mobile
  • Complete access to the site's full archive of more than 56,000 articles

Already have an account?

For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651


Legal Week Newsletters & Alerts

Sign Up Today and Never Miss Another Story.

As part of your subscription, you can sign up for an unlimited number of a wide range of complimentary newsletters and alerts. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2019 American Lawyer Media International, LLC. All Rights Reserved.