Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.
Episode Description:
Jacob Shiffer (Fordham Law '23) is joined by David Connolly, Chief Legal Officer at Playfly Sports for a look at the Multimedia Rights and NIL considerations for sports startups. Together they discuss the legal considerations for entrepreneurs in the sports and media industry, including a history of Playfly Sports, initial legal issues for entrepreneurial companies in media, the advantages and disadvantages of a legal background and entrepreneurship, as well as NIL considerations.
[:30] Third-year Fordham law student Jacob Shiffer introduces David Connolly (Fordham Law '02).
[1:31] An overview of the mergers and acquisitions practice.
[3:05] Lessons David learned from his time with an M&A team.
[6:18] Forming the idea behind Playfly Sports.
[10:15] Legal considerations that are commonly overlooked by entrepreneurs.
[12:47] Considerations for entrepreneurs who need help raising capital.
[14:09] Advantages and disadvantages of David's legal background.
[17:16] Changes resulting from NIL (Name, Image, and Likeness) rule developments.
[21:36] The impact of NIL on startups and entrepreneurs.
[24:31] NIL issues entrepreneurs tend to overlook.
[27:16] The potential impact of entrepreneurs and startups in this industry.
[28:30] Fordham advice from a successful alumnus.
"People who were too concerned about risks may not be successful in the entrepreneurial side of the business." - David Connolly
"The advice I would give entrepreneurs is to think about how you want your business to grow and who the partners are who are going to facilitate that growth." - David Connolly
"If you're bringing in an investor who can provide capital, you need to make sure you've got the right partner so they can help guide your growing business." - David Connolly
"Know the boundaries of where your expertise ends and when to bring in people who really are experts." - David Connolly
"NIL is all very new and people are trying to figure it out along the way." - David Connolly
"Entrepreneurs need to know, and embrace the fact, that they're going to make mistakes and then learn from those mistakes." - David Connolly
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Disclaimer:
The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the "Podcast") is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.
