Case Study: Tank Stream Labs & Lawpath Partnership
Tank Stream Labs is at the forefront of fostering innovation in the technology startup ecosystem. As a co-working space and incubator, it offers vital resources, services, and education to help startups launch and scale. Bradley Delamare, CEO, emphasizes the incubator's commitment to supporting startups in all operational facets, including legal, compliance, and accounting. Among the many success stories nurtured by Tank Stream Labs, Lawpath stands out as a testament to the incubator's supportive environment.
Advice covered by Lawpath
Start-up Legal
Contract Drafting
Company structures
Legal Compliance Advice
Challenge
The tech industry demands efficiency and effectiveness, especially in non-core yet crucial areas like legal and regulatory compliance. Bradley Delamare points out that, traditionally, engaging with legal services was time-consuming and less than enjoyable for non-legal professionals. The need for a solution that would streamline these processes and provide reliable legal support was evident, particularly for startups already struggling with time and resource constraints.
We at Tank Stream Labs try to work with as many of our companies as possible across all areas of our business, whether it's operations, compliance, legal, accounting, all aspects we try to, and Lawpath is one of those that over the years we've worked with closely, and so we have used Lawpath over the years for multiple areas of our business when it comes to legal and regulatory and compliance.
The Lawpath Solution
Lawpath emerged as a critical solution for Tank Stream Labs and its affiliated startups. Its digital platform revolutionized how the incubator approached legal services by offering a user-friendly interface and access to a wide range of legal documents and advice. Lawpath's ability to connect businesses with lawyers specialising in their specific industry needs significantly enhanced the efficiency and effectiveness of legal processes for Tank Stream Labs.
Lawpath does provide off the shelf templates that you can take and fill in the data, which is great, and that gave us the bare bones of some structures, but then being then be able to utilise a lawyer with a particular skillset, which the Lawpath platform could connect you to... was really quick and really efficient.
Impact and Growth
Bradley highlights how Lawpath's digital approach to legal services significantly saved time, a precious resource for any growing business. The ease of use of the Lawpath platform made it an ideal choice for a tech-centric company like Tank Stream Labs. A notable experience involved starting an education venture where specific legal requirements were paramount. Lawpath enabled quick and efficient creation of necessary legal documents and contracts, tailored by lawyers with expertise in the education sector. The first legal consultation through Lawpath was seamless, transitioning smoothly from platform-based interaction to detailed calls when needed. This efficiency underscored the value of Lawpath's service in dealing with complex legal matters swiftly.
Make sure that you are on top and in front of your legal requirements...it's really serious. And from a reputational risk, if you're a small business, you could lose that overnight then you haven't got a business.
Future Aspirations
Looking ahead, Tank Stream Labs is on an ambitious growth trajectory, planning to expand its footprint both within Sydney and interstate. Bradley is optimistic about the startup ecosystem's future, driven by emerging technologies and sectors. He emphasizes the importance of legal preparedness and advises startups to proactively manage their legal and regulatory requirements to avoid potential pitfalls.
With Tank Stream Labs, we're on this huge growth journey. We've come out and we've grown five x since then. We've got multiple locations around Sydney, so we'll look to expand that footprint in the Sydney market and we'll look to go interstate as well.... It's a really exciting time right now because... there's definitely a lot of energy back into the startup world.
Discover How Lawpath Can Help Your Business
Experience the legal solutions that elevated Tank Stream Labs. Join Lawpath today and start navigating your business's legal needs with confidence and ease.
