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A quartet of partners from Bird & Bird in Sweden have left the firm along with six other lawyers to launch a boutique focused on emerging companies.
Partners Andreas Börjesson, Jim Runsten, Sara Sparring and Johan Tydén launched the new firm, Synch, on 1 March.
The partners are joined by six other Bird & Bird lawyers, and the firm will focus on advising start-up companies on M&A, commercial law, regulatory frameworks and IP.
The aim is for Synch to offer flexible and bespoke services and payment options to its clients, which will be both Swedish and international start-ups with a focus on the technology space. Synch has developed programmes specifically designed for start-up companies and plans to offer further tailor-made services as clients grow and develop.
The firm will also offer flexible fee arrangements, including retainers, fixed fees and other fee structures, and Runsten said it was aiming to act as the legal function for the companies it was working for.
Runsten told The Lawyer: “As far as we can we’ll adapt to the needs of our clients. We’re happy to share the risks and rewards of the clients - it’s nothing that we haven’t done before, but now we’re doing this as our first approach.”
He said the firm was aiming to be as efficient as possible to help keep fees down.
Synch will not have any lawyers with the title of ‘partner’, although Runsten is taking on the CEO role. “Everything is supposed to reflect a more modern way of doing things,” he added.
The firm is aiming to double in size in its first year and add a further 10 to 15 lawyers in its second.
The founding team were all long-standing partners at Bird & Bird. Sparring was most recently the firm’s IP head in Stockholm.
A spokesperson for Bird & Bird said: “Clearly this is a different business model to Bird & Bird’s. We continue to believe that, because clients are increasingly international and want an integrated international service, one of our key strengths is our international reach.Despite the strategic difference in approach, the departures were amicable. We are working with those involved to manage the transition smoothly and minimise the disruption to any clients.”