bio.legal LLP: An Alternative to Outside Legal Counsel and Full Time In-House Counsel

As the seventh largest biotechnology cluster, British Columbia is home to hundreds of biotechnology companies. These companies have specific legal needs that are not currently being served. This business plan contemplates the feasibility of bio.legal LLP, a new kind of legal services provider that would offer part time in-house legal counsel services to biotech/pharma companies located in British Columbia. An analysis of the law firm industry and the current economic state in Canada suggests that bio.legal LLP will easily establish itself on the market, aided by fierce competition for patent, funding and talent amongst biotech/pharma companies that commands that they find innovative ways to improve their competitive advantage. bio.legal LLP will assist them in that mission by providing cost effective, flexible and specialized legal advice in line with their strategies. This feasibility report also proves bio.legal LLP to be an extremely profitable venture.