Palak Devpura , FOUNDER AND LEO at Spinach Laws
Great Companies: How did you get your idea or concept for the business?
Palak Devpura : I have been in the business of providing legal services for about 7 years in the subject matter of start-up legal advisory, strategy, Litigation, Corporate advisory and Tech related legal framework. I know business laws in and out, and I have always been dedicated and updated on my understanding and application of the latest regulations, laws, and implications of ongoing legal problems. I use this expertise to build and apply bespoke legal services to every level of the organization's operations. However, after I came to the silicon city of India Bangalore, I saw the whole ecosystem of Startups and the gap of a Legal Advisor who understands business and Law both really well and that’s how I started my journey as a Startup Legal Advisor. Now I am practising in the Silicon Valley of India, Bangalore as a LEO to help entrepreneurs grow in their journey without going into the legal hassle.
That’s where Spinach Laws got incorporated: Palak<> Spinach and that’s why Spinach Laws. So as the name itself signifies “Palak”, Not Spinach, although I do Spin Laws and Dance/Nach on the tune of my work. From being an average kid in a family of successful entrepreneurs to being a category creator in a traditional legal industry.
Great Companies: What are the various services provided by Spinach Laws?
Palak Devpura: Spinach Laws is the end-to-end platform for all the startups and smaller companies/MSME for all their legal and compliance needs starting from incorporation to fundraising to compliances to policy making to documentation till the growth and maturity level of an entity. Today Spinach Laws is India’s only end-to-end platform for startups and smaller companies to create, negotiate, and sign both the simple, and complex contracts they need to run their business, with expert legal advice. At present we are also expanding our areas of service into Cross Border Listing of products specifically for D2C Brands and Government grants which are applicable for MSME and Early Stage Startups.
Great Companies: What makes Spinach Laws different from hundreds of other similar service providers?
Palak Devpura: As I mentioned earlier, we have created a new category in this traditional legal industry. It’s very common to come across great CEOs. Time and again you will bump into a great leader. We are the LEOs of this Industry. The Legal Executive Officer (LEO) who steps into the arena of your company’s legal setup and in no time solves all the problems of that setup. We are creating a brand in the professional space which most professionals fail to create and even if they are able to create it takes years and years of time as we are into service industry. I am here to take up this challenge and build my brand in this industry.
Great Companies: What were the struggles and challenges you faced and how did you overcome them?
Palak Devpura: The major struggle which every professional in the service sector faces is the negotiation or “bargaining” in simple terms. Most of my time in my initial days went into
negotiations with the client and since I was a solo Founder I used to struggle between work, client meetings and negotiations. Another biggest struggle is fear of survival in this competitive World and since I am a young legal professional, it has been always difficult to prove myself in the Industry as people don’t take you seriously unless and until you prove your worth. The only thing which get me going through this journey is patience, motivation and confidence along with my family’s guidance and support. As a budding entrepreneur may fall many times but he/ she needs to motive herself/himself to be consistent and hopeful regarding his/ her venture. So, there are 4 “Ps”” which I follow to keep myself motivated which are “Patience, Perseverance, passion, planning”.
Great Companies: How do you plan to grow in the future? What does 5 years down the line look like for Spinach Laws?
Palak Devpura: As I have experience over 7 years in the legal industry, very recently I identified the biggest problem of our industry and any other industry which is documentation, as drafting of contracts and agreements consumes lot of time and energy and it’s not worth some penny which a lawyer gets. Therefore the very first Agenda is to build an AI based Tech platform to solve the process of documentation. Our vision is to make spinach laws a one stop solution which caters all the needs of a Startup starting from incorporation to fundraising through technology. We want to bridge all the legal gaps of the Startup Industry. Our ultimate goal is to be recognised as the “LEOs” of Startup Industry/ ecosystem.
Great Companies: If you had one piece of advice to someone just starting out, what would it be?
Palak Devpura: My only advice to everyone who wants to start or is starting out is that “no matter how much you plan your life, life will have its own plans so always be ready for worst situations and deal with them with calmness. Lastly accept your weakness and leverage your strengths in best manner.