Reinventing the Industrial Ecosystem
Rise-X is a company that believes collaboration is the key to building a sustainable future. However, being a company that collaborates heavily with other businesses through blockchain technology means that it’s imperative they checkoff all the legal requirements. For Rowan Fenn, the CEO and Co-Founder of Rise-X, the changing tide of technology and resources means that the resources industry itself also has to change. With this in mind, Rowan started Rise-X, an online marketplace which assists in managing contracts for industrial regulators, products, and Governments. This is all done with the overarching goal of increasing efficiency and keeping up with market demands in a sustainable way.
Building a Legal Infrastructure
As a company that was built from the ground-up, Rowan found himself continually faced with new legal issues. Legal issues are critical for every business to get in order, and because he was also working with Government agencies and regulators – he knew he had to get them right. He had many questions around structuring his company, complying with national Rules, and protecting Rise-X’s intellectual property.
Rowan had previously only engaged directly with lawyers for personal matters. He knew however from his experience in the corporate world that legal protection wouldn’t come cheap, and had seen first-hand the high costs involved with in-house Counsel and external legal professionals. It led him to believe affordable legal help for businesses was virtually inaccessible and only a luxury for larger companies. Rowan ended up doing some of the early legal work himself, but soon realised the complexity of corporate law meant that he’d only be confident after having gotten professional legal advice. “It ended up being more costly than if I’d actually hired a lawyer” Rowan says. Rowan got to work on finding a solution.
A new way of doing legal
“The Lawpath Legal Advice Plan really caught interest, and I’d never seen anything like it.”
With all of his company’s legal documents in order, Rowan sought clarity for his remaining legal questions. Getting answers to these questions was important for Rise-X, however the costs of hiring traditional legal help were still too prohibitive. Rowan then discovered Lawpath’s Legal Advice Plan, which enabled him to chat to a lawyer year-round for all his outstanding legal questions. Rowan was connected with a lawyer who had worked with similar organisations and cleared his doubts within an efficient 30 minute call. Rowan was able to build Rise-X on a solid legal foundation and dedicate more time to growing his company without worrying about all the legal stuff.
“It’s provided me with comfort, and the ongoing support from my lawyer is very beneficial”
For Rowan, finding an online platform which covered him every step of the way was unparalleled. Rise-X has subsequently been able to keep all its legal documents in one secure and easy to access place, and have legal help on hand whenever they’ve needed it. Rowan also found the experience as a whole, educational and positive. ‘Doing more with less’ is an adage that Rise-X lives by, and they’ve certainly lived up to this when it comes to their legal needs.
Co-Founder of Rise-X