In our live session this week, Patricia Wing, founder of SuLE and a former VC and M&A lawyer, discussed how lawyers can better serve start-ups at a time when technology is reshaping legal delivery, founders’ expectations are shifting, and traditional fee models are under increasing pressure.

Wing began by outlining her career in venture capital and M&A at a leading City law firm before leaving private practice to build a platform designed specifically for founders. Having supported over 1,200 founders in under two years, she subsequently expanded into working with law firms seeking to digitise and modernise their venture processes.

The discussion explored what founders now value, why many law firms struggle with early-stage companies, and how technology is reshaping both legal delivery and lawyer skillsets.

The Founder Mindset Has Changed

Wing made it clear that founders no longer see legal work in the same way.

Today, the first stop for many founders with a legal query is AI. This has created a perception that legal answers are easily accessible and that drafting work, in particular, is commoditised. As a result, founders are increasingly resistant to paying high hourly rates for what they perceive as standard documentation.

Through data gathered from thousands of founders, Wing identified a clear pattern: what founders are willing to pay for is not document production, but high-level advisory input. They value:

• Negotiation experience with VCs and private equity
• Market insight into current deal terms
• Strategic judgement informed by pattern recognition
• Clear, confident advice without excessive caveats

In short, drafting is expected; advisory is most valued.

The Problem with Traditional Law Firm Models

Wing examined why many corporate firms struggle to serve start-ups effectively.

Start-ups are fast-moving, under-resourced, and often chaotic. They want fixed fees, speed, and practical advice. Many law firms, however, operate on hourly billing models that discourage ongoing advisory relationships and create friction around every interaction.

Wing highlighted a cultural issue: risk aversion. Lawyers often hesitate to give clear guidance without surrounding it with caveats. Yet founders are paying precisely for judgment.

She also pointed to exclusivity around knowledge. Historically, access to legal information was itself valuable. That is no longer true. Legal knowledge is widely available. Law firms must now differentiate through insight, relationships, and commercial understanding.

Some firms avoid early-stage clients altogether, seeing them as loss-making. Others justify the work as a “funnel” strategy: invest early, retain the client as it grows.

But without operational change, that strategy can simply burn money.

Digitising the Venture Process

Wing described how her platform replicates and digitises the process used by top-tier firms in venture transactions. This includes:

• Managing cap tables and transaction checklists
• Automating drafting workflows
• Extracting and comparing terms
• Coordinating signing processes
• Streamlining due diligence

AI plays a significant role, but not as a single dependency. Instead, multiple tools are integrated to accelerate development and improve efficiency.

The result is not to replace lawyers, but to remove repetitive, manual work. This enables firms to offer fixed-fee packages while protecting margins.

The opportunity, Wing argued, is clear: if technology reduces delivery costs, firms can price more transparently, satisfy founders, and remain profitable.

Advisory, Networks and Ecosystems

A particularly strong theme was the underutilised power of law firm networks.

Wing emphasised that one of the most valuable assets a firm possesses is its ecosystem: investors, advisers, founders, and board-level connections. Opening those networks to clients can create significant value at little additional cost.

They noted that lawyers often fail to recognise how embedded they are within a broader ecosystem. Leveraging that position strategically can differentiate a firm far more effectively than drafting skill alone.

The discussion also touched on geographic differences. Wing observed that:

• The US prioritises innovation and deploys capital aggressively.
• The UK takes a more cautious but still active approach.
• Continental Europe is generally more conservative and slower-moving, influenced by stricter regulatory frameworks.

These dynamics shape both deal culture and legal advisory styles.

Essential Skills Lawyers Must Develop

When asked what younger lawyers should focus on, Wing was unequivocal: communication and business development.

Drafting excellence is no longer sufficient. With AI tools increasingly capable of handling document production, lawyers must:

• Build authentic client relationships
• Develop confidence in advisory conversations
• Understand commercial drivers
• Cultivate networks
• Be comfortable with selling and visibility

The point was reinforced, highlighting communication as the “last mile” skill that technology cannot replace.

The future lawyer is not simply technically competent, but commercially engaged and relationship-driven.

Why Start-ups Still Matter

Despite the challenges, both speakers agreed that working with start-ups remains strategically important.

Early-stage clients can:

• Become significant long-term revenue sources
• Strengthen a firm’s employer brand
• Enhance the innovation culture internally
• Build credibility within venture ecosystems

Many firms proudly cite their role as early advisers to major global brands. Supporting start-ups is not merely charitable or reputational; it is often foundational to future growth.

However, success requires structural change: revised pricing models, technological adoption, and a mindset shift away from pure hourly billing.

Conclusion

The session underscored a central tension: legal knowledge is increasingly accessible, but judgment, experience, and networks are not.

Law firms that embrace technology to eliminate low-value work can reinvest time in advisory relationships; those who cling to information exclusivity risk obsolescence.

Serving start-ups effectively is not about discounting traditional services. It is about redefining value.

The lawyers who thrive will be those who combine technical competence with commercial insight, clarity of advice, and meaningful connection.