Miles & Stockbridge, a leading business law firm with more than 220 lawyers in the mid-Atlantic region, announced today the launch of an initiative to support Black businesses by providing introductory legal counsel at no cost or a reduced cost.

The Miles & Stockbridge Black Business & Start-Up Initiative will focus on helping to eliminate or temper some of the barriers uniquely experienced by Black entrepreneurs and businesses, such as a lack of funding (particularly as it relates to legal expenses) and a lack of access to a network experienced in the challenges confronting all businesses.

“Our Board of Directors met in mid-June to discuss and share what specific steps we, as a law firm, could take inside and outside to address social injustice,” said Nancy Greene, chairman of Miles & Stockbridge. “Using our legal experience and talents to help Black entrepreneurs is a concrete way we as lawyers can be of real help—in our lane—to support the cause of greater economic opportunities and justice for the Black community.”

As a starting point, Miles & Stockbridge will work with emerging or start-up companies, owned at least 50 percent by Black owners, meeting one of the following criteria:

• Less than five years of operating history,
• Less than $500,000 of annual revenues (as verified by tax filings), or
• Fewer than 10 employees

Inclusion in the initiative will be determined on a case-by-case basis, and subject to other parameters determined by the firm.

The Miles & Stockbridge team will meet with qualifying applicants by phone to assess their needs and determine next steps. Miles & Stockbridge is prepared to provide legal counsel to Black businesses accepted into the initiative to help develop and grow their businesses—from general corporate and business legal services necessary to keep operations running smoothly to more complex tax, acquisition, employment, general commercial contracting, intellectual property and immigration advice and insight. The firm will also counsel clients interested in attracting growth capital or angel funding and securing funding for ongoing operations.

In support of this initiative, the firm will count 50 non-billable hours spent on providing legal advice to Black entrepreneurs and businesses toward a lawyer’s annual hours. These hours are in addition to the 50 non-billable hours that the firm’s lawyers can receive credit for performing traditional pro bono services.

“We do not expect this initiative to be a panacea in any way,” added Greene. “It is a step we can take right now as a firm and as individual lawyers to help Black businesses launch or grow.”

About Miles & Stockbridge’s Emerging Business Practice

Miles & Stockbridge’s Emerging Business practice focuses on the unique needs of entrepreneurial and privately held companies and the equity partners who invest in them. The firm’s lawyers bring an understanding of business issues to their role as legal counsel, and they offer the resources of a full-service business law firm. They have practical experience throughout the business life cycle, because their lawyers have served as both outside and inside general counsel with start-up, early and growth stage companies, as well as family-owned and mid-market businesses.

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