Frequently Asked Questions (Video)
Am I eligible?
Eligible McDermott Rise members include early-stage and emerging companies whose core leadership include 50% people of color. We suggest candidates have a comprehensive and innovative business plan, are solving an important problem and have an immediate need for an experienced legal team.
Does it matter what stage of financing my company is at?
Companies at early-stage funding levels (Series A and prior) are invited to apply.
If I am selected, what do I get?
Selected members will receive 25 hours of free legal counsel for their priority legal needs.
What happens after the complimentary hours are used?
Once the complimentary hours are used, we will defer up to $50,000 of fees until the next fundraising or milestone event, or up to a maximum of 18 months.
What other benefits do members have beyond the scope of free legal services?
All members have access to the McDermott Rise Resource Center, McDermott-sponsored events, legal forms and networking opportunities, including our global network of venture capital firms, private equity funds, incubators and accelerators.
What type of legal services can I expect to receive after I’ve been selected?
McDermott has lawyers across multiple practice areas. Some common examples of legal issues applicable to McDermott Rise members include documenting a fundraising, applying for a patent, securing a trademark, developing compliant privacy and cybersecurity policies, hiring employees, and selling or planning an exit.
How do I know which practice areas apply to my business?
Once admitted to the McDermott Rise program, each member will have a kick-off orientation session with their advocate, a McDermott partner who will serve as their guide and mentor throughout the length of their membership. This kick-off session introduces the program, helps members prioritize their immediate legal needs and offers a time to answer any questions. All members are encouraged to view the practice area-specific orientation sessions on the McDermott Rise Resource Center. The purpose of these sessions is to help members understand possible areas that will enable them to tackle an important project to grow, scale or launch their business. Practice areas include:
- Employment Law
- Enterprise Organization
- Funding and Financing
- Global Privacy & Cybersecurity
- Incentive Compensation
- Patents and Trademarks
- Personal Estate Planning
- Planning an Exit
- Tax
What information do I need to apply?
Applications should include:
- Your contact information
- The percentage of senior leadership/founders who are people of color
- Your industry/business vertical
- What stage of financing your company is at
- 150 words or fewer describing what is unique about your business
- A submission video (strongly encouraged but not required)
- Your business website
Does McDermott Rise provide business funding?
McDermott Rise does not provide funding but can help you navigate the legal landscape implicated when securing funding through any fundraising vehicle.
Who will be my main point of contact if I am selected?
Following acceptance into the program, members will receive a welcome email from their McDermott Rise advocate. Your advocate will serve as your main point of contact.
How many McDermott Rise members are selected, and how often?
We select 20 companies per year, added on a rolling basis.
Where can I apply?
Apply online at https://go.mwe.com/RiseApplication.
How can I submit questions or ask for additional information?
Contact us at McDermottRise@mwe.com.
FACT SHEET
Learn more about the McDermott Rise program including; who should apply, application steps and more.
Ready to Apply
Ready to Apply
If you think your business would be a good fit for McDermott Rise and you’ve reviewed our terms and conditions we encourage you to submit an application using the below link.
