Project Description

Client: Start-up in the Financial Services Software Space

Dedicated Cognition Counsel:
Joe Milstone (formerly Oslers)
Phil Lefko (formerly Oslers, CIBC World Markets)


– Client had limited resources to devote to legal services in early growth stages, yet needed regular expertise and credibility in negotiating significant corporate transactions as well as inbound and outbound licensing agreements with major players.
– Client needed patient legal counsel who could provide it with affordable legal advice and the expertise to advise it at each stage of its development.


– Cognition established itself as the Client’s de facto General Counsel, handling its incorporation, the drafting of agreements and other operational legal tasks.
– Cognition also managed its transactional work, introducing the Client to potential financing sources and helping the Client to close an important debt financing with BDC.


– Conservation and Focus of Resources: Client was able to focus its attention and resources on other areas of the business to help it grow, while tapping into important, experienced and strategic legal counsel on a consistent, as-needed basis. Cognition bulk commercial rate of less than $200/hr versus Big Law rate of $500/hr to $750/hr saved Client thousands of dollars each year.
– Successful Acquisition: Cognition corporate/transactional counsel (Phil) was brought in to work with the de facto in-house counsel (Joe) when the company decided to accept an offer to be purchased by a multinational financial services player. The transaction closed successfully in a short period and again at a much more efficient cost than the counterparty, allowing the founders to maximize their keep of the sale proceeds.