cleantech

There has been considerable interest in the past 10 years in the emerging technologies and industries comprising the so-called “green-tech” sector.   With many of our venture capital clients seeking companies that can develop products which make better use of natural resources, we have seen increased activity in this space. 

At White & Black, we can advise on funding arrangements for clean technology companies and also on fund-formation work for specialist clean tech funds.  As part of our fund-formation work, we can advise on the creation of suitable fund structures and can liaise with your tax advisers on favourable mechanisms for tax purposes.  The “limited partnership” (or so-called, “1907 partnership”) is the traditional fund vehicle in the UK and indeed LPs (local equivalents) are common for most US and European funds. In the UK, the key aspects of limited partnerships are that:

• there are 2 types of partner, general partners and limited partners. General partners have management control over the partnership and unlimited liability to third parties for its debts whereas limited partners have no active management rights and are generally only liable for partnership debts up to a nominal sum
• partner relations are largely unregulated and a matter of contract
• they are largely free from the legal formalities which apply to companies; and
• they are tax ‘transparent’

We are of course also able to draft suitable investment documentation (investor rights agreements, shareholders agreements and articles of association etc) and ancillary paperwork such as term sheets, NDAs, exclusivity agreements and board minutes.

On the day to day commercial side, we are able to advise on a variety of agreements and arrangements including R&D collaboration agreements, IPR licenses, supply agreements and so forth.  We also have expertise in clean-tech joint ventures including those where funders and trade players collaborate on a strategic basis.