Jan. 7, 2025

Nicholas Lipresti, corporate and business transactional attorney with Lipresti Law

Nicholas Lipresti, corporate and business transactional attorney with Lipresti Law

Nicholas Lipresti is a transactional attorney practicing in corporate, business, commercial lending, and finance. His practice focuses on structuring, negotiating, and closing joint ventures, as well as mergers and acquisitions.

He often acts as...

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Nicholas Lipresti is a transactional attorney practicing in corporate, business, commercial lending, and finance. His practice focuses on structuring, negotiating, and closing joint ventures, as well as mergers and acquisitions.

He often acts as outside general counsel with expertise in real estate, asset-based financings & lines of credit, project financings, tax credit financings, subordinated and senior debt transactions, convertible/preferred equity structured finance and loan assumptions.

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Churchill said, those who fail to learn from history are

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condemned to repeat it. Kevin helen n believes that certainly

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applies to business. Welcome to Winning Business Radio here at

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W four CY Radio. That's W four cy dot com

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and now your host, Kevin Helena.

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Thank you everybody for joining in today. I'm Kevin Hallanan

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and welcome back to Winning Business TV and Radio on

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W four cy dot com. We're streaming live on talkforretv

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dot com, and of course we're streaming live on Facebook

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and that's at Winning Business Radio. And we're available in

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podcast form after the live show on just about whatever

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platform you use to find your podcast content. That's YouTube, iHeartRadio, Spotify,

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Apple again, wherever you listen. The mission of Winning Business

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radio and TV, as regular viewers and listeners know, is

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to offer insights and advice to help people avoid the

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mistakes of others, to learn best practices, the how tos,

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the what toos, the what not tos, to be challenged

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and hopefully to be inspired by the successes of others.

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Who are those others. They're consultants, coaches, advisors, authors, founders, owners, entrepreneurs,

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people with expertise. Today's an attorney. But you know, virtually

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every successful person I've ever had a chance to talk

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to has said some form of failure in their lives

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and careers. So every week I say, we all have

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to get our knee skinned once in a while. I'm

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driven to keep those scrapes from needing major surgery. To

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learn from history so we don't repeat it. I've spent

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the better part of my career equipping businesses to grow

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from solopreneurs to small and medium sized businesses all the

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way up to the Fortune fifty, and I've seen a

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lot of those companies win, and to varying degrees. I've

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seen some fail, and I've had the opportunity to rub

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elbows with some of the highest performing people around and

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with some who probably should have found other professions. In

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my own businesses, I've had lots of success, but some

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failures too, So I like to think I've learned a

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lot from those experiences. So you're going to hear from

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me my opinions and insights. But anyone who knows me

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will tell you that I have a hard time staying quiet.

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So more importantly than me, you're going to hear from experts,

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those consultants, coaches, advisors, authors, founders, owners, entrepreneurs, attorneys. Today,

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my guest is attorney Nick Lapresty, corporate and business transactional

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lawyer with Nepresty Law Lapresty Law. Here's his bio. Nicholas

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Depresti is a transactional attorney based near Boston, concentrating his

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practice in corporate business, commercial lending, and finance law. His

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practice focuses on structuring, negotiating, and closing joint ventures as

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well as mergers and acquisitions, and that's both buyers and sellers.

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Nick is also known for his expertise in asset dispositions, securities, issuances,

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and other capital raises. Recapitalizations, restructurings, buyouts and takeouts, as

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well as various forms of business and real estate financing

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ranging from venture and private capity capital excuse me, I

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said that wrong? From venture and private equity to asset

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and property backed bank financings. He sought after for his

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expertise and negotiating term sheets, letters of intent, purchase, asset

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and equity agreements, profit sharing plans, operating agreements, buyer seller agreements,

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shareholder agreements, employment agreements, as well as confidentially in non

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disclosure agreements for business. Nick has significant experience preparing private

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placement memorana and other offering documents for equity issuances and syndications,

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as well as compliance with federal and state blue law

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excuse me, blue sky securities laws getting ahead of myself there.

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He also represents many commercial lenders and borrowers in connection

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with commercial estate financings, asset based financings and lines of credit,

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project financings, tax credit financing supportinate and knows the lob

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we're going to get to this subordinated and senior debt transactions,

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convertible preferred equity, structured finance, and loan assumptions. Nick regularly

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counsels financial institutions and borrowers, and the drafting and negotiation

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of loan documentation including loan agreements, notes, mortgages and deeds,

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security pledges, guarantees, and subordination agreements. Providing outside general counsel,

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he works with closely held businesses from startups to establish companies,

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as well as nonprofits and entities and workout situations. Nick

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supports clients with organizational and equity planning, strategic advice, resolution

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of conflicts among owners, executive employment matters, and ongoing corporate counseling.

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Nick earned his BA in Political Science and government with

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a minor and classical civilizations from William and Mary, his jd.

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Or Law degree from the Columbia Columbus School of Law

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at the Catholic University of America, and his Master's of

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Laws and Taxation from the Georgetown University Law Center. He

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and his wife Kristin live in Upton, Mass with their

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daughter Lily who's ten, their son James who's eight. There

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are two rescued dogs, Cody and Beast, and their three

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axe lotels. Nick. Welcome to Winning Business Radio.

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Thank you, thank you for having me, and I've just

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heard a lot about myself and that.

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Do I do all that well? I appreciate the time.

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I know you're busy, and I appreciate you carving out

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about an hour here. Let's start with family. Tell us

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a little bit about Kristin.

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Kristin, she's my wife and the reason i'm up here

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in New England now. Met her in college and actually

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summer abroad in Sicily.

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So oh wow, go cool back many years at this point.

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And Lily and James.

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Yep, there's are the ones that keep me young and

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or feeling old dependent on the day.

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Yeah, they're They're.

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My two and the reason I do everything and family

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time is great and also the reason we're New England

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to raise them as my wife always wanted to come

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home for that.

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That's awesome. Uh So I'm a dog guy, so but

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don't don't let me offend anybody. I want to hear

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more about the Axle Lottels three action Lottles. Tell us

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what that is, what they are.

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I did get.

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Very driven, so I did not know about them before

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the kids.

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There must be in a TV.

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Show or a cartoon or something, because I wasn't aware

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of them.

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But they exist. They're real.

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It's like a salamander with a tadpole tail is the

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best I can describe me, and it's they're like fish,

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but you can't put them with fish because fish will

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actually bully them. And they don't like the light, so

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they kind of like to be in the dark. They're

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interesting animals, but the kids love them. They look like

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cartoon characters.

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And.

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They they that my wife does not like that we

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have to keep outside and and they're they're family pets.

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That's awesome, and h I happened to look them up

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because I was curious. They're used in research because they

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can regenerate uh, tales, ears, whatever, limbs.

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Right, yeah, there again the salimenter tail we have.

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We haven't thankfully suffered any of that at our house,

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but they and they're crazy little things.

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They got neck.

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Beards, which I just find are hilarious because they move

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and they moved in the water.

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That's awesome. All right. So you grew up in the

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DC Virgin area, right, yep?

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The man man of kind of the East Coast. My

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parents are New Yorkers that went down to d C.

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And that's where I was born and raised in Fairfax County.

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Cool. What was it like to grow up there.

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Uh interesting, I thought, again, as we all did. We

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thought it was normal growing up because it was just

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the way. But now looking back on it.

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But even though you weren't a Mandalorian.

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Not a not a Mandalorian, and I walked in.

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Little little reference, this is the way, anyway, go ahead, And.

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But looking back on it is different. It's different from

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New England and it was rolling suburbia. I mean again,

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my parents are New Yorkers, went down to d C

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for work, ended up settling in the suburbs, which was

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again at that time being completely redeveloped into suburbs. And

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it just has continued since then and even after I left.

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And it's different because there's no there's no central town feel.

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Again, it's rolling suburbia. And I, to be honest, I

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like it up here.

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So did you bring your sports allegiances with you? Where

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do those?

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They? I have? And the Commanders are making it easier

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this year again, And I'm old enough that I remember

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ninety two when when the Redskins now Commanders were good

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and then it was a brutal winner of about thirty

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so years. Still follow the the Nationals. We'll see wizards.

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I still can't love that name. And I don't know

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where they're going, but we got the commanders and we'll see.

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So my wife and I were doing the MLB Ballpark tour.

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I mean, I've talked about that at one point or another,

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but we saw the Nationals two years ago.

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Beautiful park.

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Beautiful is it really is? Yeah? What made you decide

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to attend? William and Mary into major in polyscien government?

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And then I'm curious about classical civilizations too. I think

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it's pretty cool. I'm not you know, some people laugh

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at minors. Yeah, whatever, but I'm curious about that as well.

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So William and Mary again growing up in northern Virginia

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and blessed with a great in school or in state

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school system.

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So again I love my parents.

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They are very clear you can go anywhere you want

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in the country, but if you're going to pay over

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state tuition, so that that heavily impacted. And so I

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looked at the the general all three again, I don't

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even know how college admissions work. I applied to University

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of Virginia, I got waitlisted.

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I got applied to Virginia Tech, which I got in.

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My older sister went there, and I was a big

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fan of the football program at the time, and when

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to William and Mary, it probably goes into political sites

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and the rest of the conversation. It was it was

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the area in the history. It's just a lovely area.

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It was. It wasn't too small, wasn't too big.

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It was one of the older schools in the nation, right.

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Yeah, I mean it's right there. I think they said

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seven presidents studied there. Got funny back in the day,

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no one had really graduated. You just went to college,

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learned until you thought you were done, and then you

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were good and you left different these days, but yeah,

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great area. Liked it there, and being from DC and

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then the courses with government that that kind of just

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led to. I didn't know what I wanted to do

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when I grew up, but thought I was going to

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go into government work on Capitol Hill when I was

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a kid, again just being a political nerd.

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Well, you had some cool internships and I want to

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get to those in a little bit, but you did have

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some of that experience that's which is cool.

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Yeah, So I had some experience, and unfortunately it was

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enough to realize that it wasn't for me. So again,

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I love the opportunities. I got there, but it Capitol Hill,

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and this was again twenty years ago. It was starting

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to change from what historically had been. And again you'd

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think kind of collegial environment. Again, you work on what

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you can together, respectful disagreements, and I guess the average politician,

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you would say, on both sides, was more of a

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flag bearrier bear excuse me for his or her cause.

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It started to shift to more kind of a celebrity

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culture where people cared more about who was coming to

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see what they gone on. And again this is twenty

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years ago, so not a comment on anything regular, but

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it was enough to say I'll go somewhere else, and

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law school was the next option.

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So yeah, that was my next question. When did you

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know you wanted to be an attorney?

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When I graduated law school, it was pretty clear because

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when I went into law school, or at least planned

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to go into law school taking the LSATZ the entrics exam,

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was still government was on my mind, and a lot

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of people on Capitol Hill went to law school, so

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it was kind of just a logical step. And then

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I realized in law school that I didn't want to

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go into the government or Capitol Hill, and then I

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had to figure out in law school what type of

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lawyer I wanted to be, and that was part of

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the journey.

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And was Catholic University of America a choice because you

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got in or did you apply there specifically you wanted

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to go there? What was that about?

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Got in and was looking to stay in the DC

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area and my whole career would be down there.

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Foolish me? So yeah, got in and.

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When went straight from undergrad to law school, which actually

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I don't recommend really for anyone out there.

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Not that if any kids are listening to this.

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Is take a gap year, go go be a paralegal

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somewhere before you decide to commit to the school, and

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then probably at least the next decade of your life

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to pay off the debts associated with it.

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Is that your biggest motivator for that advice? Or was

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it the grueling nature?

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It was? It was the grueling nature. And it's one

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of those things almost I say med school, but again

254
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I didn't have that where it's once you step on

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the train, it's hard to get off. It's three years,

256
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it's very intense, and again, you there's only so many

257
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options and the market's tough, So it's not I guess

258
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it's you can't just kind of be a babe in

259
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the woods anymore and it'll work out it And it's

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the industry itself is tough, so it always get some

261
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experience and see if you like it or you decide to.

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To DIA to do it.

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Last question before the first break. You also got your

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Masters of Taxation. What was behind I'm saying that correct

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Masters of Law Laws focusing on LM. Is that we said,

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and what was the motivation for that? What was that plan?

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A part of that again was my career has been

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what's been planned and then what actually happened. So when

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I went to law school, decided not to go it

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wasn't going to go in Capitol Hill politics, and not

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that I was ever going to run for office or anything,

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but just over there, I said, all.

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Right, I'm going to go to law school.

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And then not blaming my dad, but kind of his

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insight was working for the government is some of the

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and he did it when he was younger is some

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of the best training he ever got. So the idea

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was go work in the Chiefs General's Council office. Again,

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you're in DC, so is there and yet training. Unfortunately,

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I came out of law school in one of the recessions,

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including legal market recession.

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So it was very tight at that time.

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But that was the plan, and so l excuse me,

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and tax was going to be kind of a culmination

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of tax analysis as well as business.

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Thank you all right, we're going to be back in

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just a minute. Everybody will be back with Nick Lepresty

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in about sixty seconds.

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You're listening to Winning Business Radio with Kevin Helena on

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W four CY Radio. That's W four cy dot com.

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Don't go away. More helpful information is coming right up

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And now back to Winning Business Radio with Kevin Helene

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presenting exciting topics and expert guests with one goal in

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mind to help you succeed in business. Here once again

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is Kevin Helene.

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We are back with nick La Presty, partner of Lapresty Law.

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All Right, I want to take you through Samavia. I

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won't go through every early position, but you had some

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00:17:02.840 --> 00:17:04.759
cool internships and I want to ask kind of what

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you learned. What were your key takeaways. You interned for

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00:17:09.039 --> 00:17:13.720
Senator John Warner national on the National Security Team. Talk

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about that briefly and what did you take away from

315
00:17:15.839 --> 00:17:16.519
that experience?

316
00:17:17.440 --> 00:17:19.119
That was a great experience.

317
00:17:19.200 --> 00:17:22.839
Again he by the way, quick interruption for the audience.

318
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Internship ships are brief.

319
00:17:26.079 --> 00:17:28.640
Yes, it was for the summer and again the late

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Senator Warner, and he was an elder statesman by the time,

321
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the senior senator, and it was a great experience because

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he was he was very respected. So in terms of

323
00:17:40.039 --> 00:17:43.200
again you're you're such a peon of an intern at

324
00:17:43.240 --> 00:17:46.519
that but getting to kind of be close to what's

325
00:17:46.559 --> 00:17:49.680
going on and seeing the people that he interacted with

326
00:17:50.480 --> 00:17:53.240
was again for political nerd was really cool and I

327
00:17:53.240 --> 00:17:57.400
mean especially at that time, it was an interesting environment. Again,

328
00:17:57.920 --> 00:18:01.640
he in the same building, remember from the Senator Ted

329
00:18:01.720 --> 00:18:05.240
Kennedy again another yeah, beast, but it was when.

330
00:18:05.039 --> 00:18:07.039
He was another elder statesman.

331
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Legend, a legend, and and what I always.

332
00:18:09.240 --> 00:18:12.440
Remember about him was in the Russell Building there were long.

333
00:18:12.279 --> 00:18:14.799
Hallways because then the offices would be off the halls,

334
00:18:15.319 --> 00:18:17.799
and he was he'd been around enough that he had

335
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his two dogs, so he would walk and whenever you

336
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saw him, he'd have the dogs and a staffer two

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and he'd have that that.

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Again older gate.

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But and so again it was a great experience and

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00:18:30.200 --> 00:18:32.960
you you'd like to think again that how things worked

341
00:18:33.000 --> 00:18:37.480
in terms of the government and the country and and

342
00:18:37.599 --> 00:18:42.079
being there and especially at interesting times again national security team.

343
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There again a flare up in Israel, a war during

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that time, so there was political pressure.

345
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Like five years post nine to eleven, so everything was

346
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pretty raw still.

347
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Yeah, and so it was it was a great time

348
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to be there and learn and again get experience. I mean,

349
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life's about the journey and getting experiences, and that was

350
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a great one. Again realizing that it wasn't going to

351
00:19:06.559 --> 00:19:09.200
be a call in, but at least getting getting.

352
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To have that and move on.

353
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And then the first of your two judicial internships, first

354
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with Superior Court of District of the DC Court, Honorable

355
00:19:18.400 --> 00:19:20.720
Len Leibovitz talk about that experience.

356
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So that was great.

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The I'm not a big fan of classroom learning, just again,

358
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that's not how I learned the best, not that it's that,

359
00:19:29.240 --> 00:19:32.079
it's just we all learn different ways. So I learned

360
00:19:32.119 --> 00:19:35.480
better on the job the experience. So in law school

361
00:19:35.559 --> 00:19:38.960
and with Judge Leberwitz at the time, I don't even

362
00:19:39.000 --> 00:19:41.359
know if I was getting credit, but it was going

363
00:19:41.400 --> 00:19:44.039
in and helping answer a couple of emails, being an

364
00:19:44.079 --> 00:19:47.039
assistant to the law clerk, but it was getting some

365
00:19:47.160 --> 00:19:50.160
experience on what the law is. First year of law

366
00:19:50.200 --> 00:19:53.680
school is a very brutal process. It's kind of it

367
00:19:53.680 --> 00:19:57.039
breaks you down, and so kind of getting out that

368
00:19:57.160 --> 00:19:59.920
it's more than just a classroom was important to me.

369
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And DC the big courthouse not too far away, and

370
00:20:05.440 --> 00:20:08.160
she was on the civil docket at the time, which

371
00:20:08.279 --> 00:20:11.359
to me was humorous because she I believe she's still

372
00:20:11.400 --> 00:20:18.319
on the bench. Great lady. She career criminal attorney. I

373
00:20:18.319 --> 00:20:21.400
think she was a prosecutor, so that was where she

374
00:20:21.599 --> 00:20:24.240
liked to be. And when I worked or assisted, she

375
00:20:24.319 --> 00:20:27.079
was on the civil docket, which again is not it's

376
00:20:27.119 --> 00:20:31.359
not criminal, it's lawsuits among parties, not the state. So

377
00:20:31.480 --> 00:20:33.799
it's just I don't want to say it just didn't

378
00:20:33.799 --> 00:20:36.640
interest her as much. It wasn't her passion. So it

379
00:20:36.839 --> 00:20:40.000
was funny. I remember at the time one of the

380
00:20:40.039 --> 00:20:44.400
court cases it was between two owners or to an

381
00:20:44.440 --> 00:20:49.200
owner and a former owner of a Georgetown townhouse and

382
00:20:49.240 --> 00:20:52.680
down in DC, very nice area of the city. I

383
00:20:52.759 --> 00:20:57.440
think probably eight figures or sover price tag. The two

384
00:20:57.480 --> 00:21:02.559
parties were arguing over or some drapes and a chandelier

385
00:21:02.599 --> 00:21:06.160
about whether it was fixed years or not. And again

386
00:21:06.200 --> 00:21:09.759
everyone can do it, but I want to say the

387
00:21:09.839 --> 00:21:13.440
value might have been twenty five thousand dollars they're fighting over,

388
00:21:13.640 --> 00:21:15.400
I think. And again it was going on for a

389
00:21:15.400 --> 00:21:17.119
while so that by the time I even came in,

390
00:21:17.720 --> 00:21:19.799
I think each side had probably spent over a quarter

391
00:21:19.920 --> 00:21:24.720
million dollars in legal fees in process. And it was

392
00:21:25.680 --> 00:21:28.440
it was frustrating for the judge to see that because

393
00:21:29.000 --> 00:21:30.920
again washe not a waste of time?

394
00:21:31.039 --> 00:21:34.799
But again that's where emotion got the better of those

395
00:21:34.839 --> 00:21:37.400
two parties, right, yes, and so.

396
00:21:37.519 --> 00:21:40.359
But again it was it was learning how things work

397
00:21:40.440 --> 00:21:43.200
in the dock and as civil so if you had

398
00:21:43.240 --> 00:21:45.839
an issue, if you needed to get paid suit how

399
00:21:45.880 --> 00:21:50.359
that worked, and again it was another experience where I

400
00:21:50.400 --> 00:21:53.200
took from that that I didn't want to be a litigator,

401
00:21:53.400 --> 00:21:56.880
and not that there's anything wrong, but it was. It

402
00:21:56.920 --> 00:22:01.519
was an experience and I appreciate it and just realized

403
00:22:01.599 --> 00:22:04.240
it wasn't for me. So again it was a great

404
00:22:04.279 --> 00:22:06.960
I got to where I am in law school, didn't

405
00:22:07.000 --> 00:22:08.839
know where I was going to be doing this. It

406
00:22:08.920 --> 00:22:11.920
was kind of things started to fall away and the

407
00:22:11.960 --> 00:22:13.039
best way to kind.

408
00:22:12.920 --> 00:22:14.960
Of that's a good experience to know what you don't

409
00:22:14.960 --> 00:22:16.400
want to do as much as you find out what

410
00:22:16.440 --> 00:22:16.720
you do.

411
00:22:17.440 --> 00:22:19.880
And so I spent the first two years probably of

412
00:22:19.920 --> 00:22:24.359
law school, started to jettison whole practice areas that again

413
00:22:24.480 --> 00:22:26.640
nothing wrong with yes, not for me.

414
00:22:28.599 --> 00:22:32.640
Let's see, I want to go to Actually, you had

415
00:22:32.759 --> 00:22:35.680
a summer internship, another internship. I'll skip those if you

416
00:22:35.720 --> 00:22:37.720
don't mind. Listen, there's something specific you want to share

417
00:22:38.599 --> 00:22:42.480
mcandalish and Lillard and McGuire woods. But I want to

418
00:22:42.480 --> 00:22:45.640
get to the other judicial internship, Superior Court of DC.

419
00:22:45.839 --> 00:22:47.359
The Honorable John Bailey Junior.

420
00:22:48.559 --> 00:22:51.559
Yeah, So that was again back in DC Superior Court,

421
00:22:51.680 --> 00:22:54.480
and this time it was on the criminal docket. So

422
00:22:55.000 --> 00:22:59.240
a completely different experience because in the criminal docket, the

423
00:22:59.240 --> 00:23:02.640
plaintiff is O is the government, and the defendant is

424
00:23:02.680 --> 00:23:04.960
always an individual that's been charged with the crime.

425
00:23:05.599 --> 00:23:08.359
So and this is it was DZ but it was

426
00:23:08.400 --> 00:23:09.599
state level not federal.

427
00:23:10.680 --> 00:23:15.759
Yes, its DC so local not yeah, well it is.

428
00:23:18.119 --> 00:23:21.640
You talking, but yes, it was. It was local but criminal.

429
00:23:21.759 --> 00:23:27.079
So again you're looking at at situations, uh, violence, drug

430
00:23:27.160 --> 00:23:34.519
related and it again appreciation of it and again where

431
00:23:34.799 --> 00:23:38.799
how how society works? And because when you when you're

432
00:23:38.960 --> 00:23:41.720
looking at a criminal docket like that, a lot of

433
00:23:41.759 --> 00:23:45.799
it there's not murder. And then and again the big crimes,

434
00:23:45.960 --> 00:23:50.759
it's it's a lot of again just processing crimes again,

435
00:23:50.799 --> 00:23:53.880
a lot of drug related and it I mean, it's

436
00:23:54.079 --> 00:23:55.440
it's sad to see.

437
00:23:55.200 --> 00:23:58.839
How Yeah, you see people at their worst in those situations.

438
00:23:58.599 --> 00:23:59.079
They're worse.

439
00:23:59.160 --> 00:24:01.680
And then some people, even young people that you almost

440
00:24:01.680 --> 00:24:05.680
say never had a chance. So it again it was

441
00:24:05.759 --> 00:24:08.039
it was. It was a poignant moment, uh, in my

442
00:24:08.119 --> 00:24:11.119
career of learning. And and there's the good thing is

443
00:24:11.200 --> 00:24:13.720
at that level there is a lot of assistance of

444
00:24:13.799 --> 00:24:17.079
people that in organizations that that try to help where

445
00:24:17.119 --> 00:24:21.680
they can, especially when state federal governments kind of falls short,

446
00:24:22.559 --> 00:24:26.359
but it's it again. It gives you an appreciation and

447
00:24:26.400 --> 00:24:28.359
that that life is a little different than we'll.

448
00:24:28.200 --> 00:24:29.000
Say Law and Order.

449
00:24:29.680 --> 00:24:34.039
It's a great TV show, but doesn't exactly show how

450
00:24:34.240 --> 00:24:34.920
how true it is.

451
00:24:36.160 --> 00:24:40.119
What the it's not all settled in an hour, not less.

452
00:24:40.160 --> 00:24:45.319
Lesson is easy and everything, but there's ups and downs

453
00:24:45.359 --> 00:24:49.799
and and it's hard and again even you've got to

454
00:24:49.839 --> 00:24:52.680
prove it and and sometimes again it's one of those things.

455
00:24:52.680 --> 00:24:55.319
You know it, but to prove it is a different story.

456
00:24:55.359 --> 00:24:58.759
And again if you can't prove it, there's there's serious ratifications.

457
00:24:59.680 --> 00:25:03.400
And then law clerk Jackson and Campbell again short term,

458
00:25:03.440 --> 00:25:05.920
because that was still you were still in school at

459
00:25:05.920 --> 00:25:06.519
that point.

460
00:25:06.759 --> 00:25:09.960
Yep. That was still kind of like the other legal internships,

461
00:25:10.000 --> 00:25:12.880
getting out there and just getting more experience and finding

462
00:25:12.960 --> 00:25:16.559
each one. Again mcainleish Lillard, we don't have spent much

463
00:25:16.559 --> 00:25:18.720
time on it, but that was my first summer associate,

464
00:25:18.880 --> 00:25:23.799
and I spent against civil litigation, working with lawsuits and

465
00:25:23.839 --> 00:25:27.599
then also doing family law. Realized very quickly again family

466
00:25:27.680 --> 00:25:31.519
law was not not for me. Again another important part

467
00:25:31.720 --> 00:25:34.039
of then there's lawyers that do it. But at the

468
00:25:34.119 --> 00:25:39.480
time I was reading and notating impact statements by ten

469
00:25:39.640 --> 00:25:44.359
twelve year olds about their parents' divorce. And again you

470
00:25:44.480 --> 00:25:46.839
need to do it. Yeah, unfortunately it has to be done.

471
00:25:46.880 --> 00:25:49.039
But I knew it would shoot me up in a year.

472
00:25:49.119 --> 00:25:51.440
Maybe it was not going to be my career. So again,

473
00:25:51.480 --> 00:25:55.240
the people that do that are necessary and have that makeup,

474
00:25:55.680 --> 00:25:57.599
but I knew I didn't. So it was again kind

475
00:25:57.599 --> 00:26:02.039
of the jettisoning of areas and and then working in

476
00:26:02.119 --> 00:26:05.680
McGuire woods doing some some tax work. So again it

477
00:26:05.759 --> 00:26:08.720
was kind of sticking your toe in different ponds and

478
00:26:08.799 --> 00:26:11.880
seeing where you're going to go. Because even as an attorney,

479
00:26:11.880 --> 00:26:14.160
there's a lot of different types of attorneys and and

480
00:26:14.240 --> 00:26:17.799
your your career, your lifestyle can be very different depending

481
00:26:17.880 --> 00:26:18.960
what you end up at.

482
00:26:19.799 --> 00:26:23.519
Well, it's like if you don't uh play the right

483
00:26:23.640 --> 00:26:27.319
music for your unborn child, it determines the future, the

484
00:26:27.400 --> 00:26:31.799
right or wrong internship can not just kidding, this is important,

485
00:26:31.839 --> 00:26:35.759
just as important. All right, Then you were an associate

486
00:26:35.920 --> 00:26:38.920
for this guy, Peter la Presty. I'm guessing there's a

487
00:26:38.920 --> 00:26:40.880
connection there, and that was a four year that was

488
00:26:41.079 --> 00:26:43.880
that was a that was a professional legal position.

489
00:26:44.519 --> 00:26:47.759
Yep, that was just associate and that was again learn

490
00:26:47.960 --> 00:26:50.480
learning how to how to be an attorney, and coming

491
00:26:50.519 --> 00:26:54.160
out of law school in a recession, the legal market

492
00:26:54.480 --> 00:26:58.160
was was pretty tough, and so I was thankful for

493
00:26:58.200 --> 00:27:02.079
that and to have a job, and again to appreciate that.

494
00:27:02.240 --> 00:27:07.079
And again that's a lesson in itself, coming out.

495
00:27:06.960 --> 00:27:10.839
Of a school uncle or oh no, work with my dad,

496
00:27:11.000 --> 00:27:11.759
Oh that was your done?

497
00:27:11.799 --> 00:27:13.000
Oh yes, that was my dad.

498
00:27:13.160 --> 00:27:16.240
And so being able to again never really designed to

499
00:27:16.279 --> 00:27:19.240
be fathering son job. And again they were firm and

500
00:27:19.279 --> 00:27:22.519
it was only for a time, but again at that

501
00:27:22.559 --> 00:27:25.319
point having a job and being able to maintain and

502
00:27:25.640 --> 00:27:28.680
then as the market opened up, even being able to

503
00:27:28.720 --> 00:27:31.400
apply from having a job was much different than applying

504
00:27:31.440 --> 00:27:35.680
from not having a job. So again that's true, it

505
00:27:35.720 --> 00:27:38.720
seems almost like a lifetime ago, but it was again

506
00:27:38.759 --> 00:27:42.440
as professional, a different time and kind of scary when

507
00:27:42.960 --> 00:27:45.039
again you want to work. You know you can do

508
00:27:45.079 --> 00:27:48.519
the job, but sometimes your options are limited by what's

509
00:27:48.519 --> 00:27:49.319
out there.

510
00:27:49.440 --> 00:27:52.359
What was the practice area or areas.

511
00:27:53.240 --> 00:27:53.559
Working.

512
00:27:53.640 --> 00:27:57.480
I've always done corporate work, working with business as business owners.

513
00:27:58.519 --> 00:28:01.559
Again, started to do some tax work as I had

514
00:28:01.599 --> 00:28:02.279
my LLM.

515
00:28:02.720 --> 00:28:05.119
I realized a couple of years in that I'd be

516
00:28:05.160 --> 00:28:08.400
one heck of a tax issue spotter. But I was

517
00:28:08.440 --> 00:28:12.839
going to focus on corporate tax. It's something, it's consuming,

518
00:28:12.960 --> 00:28:15.839
there's a lot of changes. You need to stay current.

519
00:28:16.160 --> 00:28:18.920
You can't dabble in it. And I knew that I

520
00:28:19.000 --> 00:28:22.039
was going to not be fully there. So I still,

521
00:28:22.079 --> 00:28:24.240
like I said, I'm a great issue spotter, but now

522
00:28:24.279 --> 00:28:27.559
I focus in in corporate business world, which is really

523
00:28:28.119 --> 00:28:32.400
helping business owners businesses again meet their goals, make money

524
00:28:32.559 --> 00:28:35.920
and stay out of trouble and losing money.

525
00:28:36.640 --> 00:28:38.960
All right, which is a good segue. We'll take our

526
00:28:39.200 --> 00:28:41.519
second commercial break, we'll come back and we'll dig into

527
00:28:41.559 --> 00:28:44.200
the current work you're doing now. We'll be back in

528
00:28:44.319 --> 00:28:48.720
one minute with Nikola Presty.

529
00:28:49.920 --> 00:28:53.880
You're listening to Winning Business Radio with Kevin Helene on

530
00:28:54.160 --> 00:28:57.680
W four CY Radio. That's W four C Why dot

531
00:28:57.720 --> 00:29:00.519
Com Don't go away, more helpful information and is coming

532
00:29:00.559 --> 00:29:03.480
right up right here on Winning Business Radio.

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544
00:29:39.759 --> 00:29:42.759
And now back to Winning Business Radio with Kevin Helene,

545
00:29:42.799 --> 00:29:46.640
presenting exciting topics and expert guests with one goal in

546
00:29:46.720 --> 00:29:50.240
mind to help you succeed in business. Here once again

547
00:29:50.519 --> 00:29:51.480
is Kevin Helena.

548
00:29:59.359 --> 00:30:03.680
We're back with Nick Lapresty, partner at Lapresty Law. So

549
00:30:03.799 --> 00:30:07.559
you make your way from Virginia back to Worcester. Fletcher

550
00:30:07.640 --> 00:30:11.440
Tilton spent about a year there. Tell us a little

551
00:30:11.440 --> 00:30:13.400
bit about that and your key takeaway.

552
00:30:14.720 --> 00:30:15.079
Funny.

553
00:30:15.119 --> 00:30:17.759
So my key takeaway that I came up that was

554
00:30:17.799 --> 00:30:20.000
a contract job and as you said, out in Worcester,

555
00:30:20.440 --> 00:30:23.720
and that was my realizing that New England is not

556
00:30:23.799 --> 00:30:29.559
home moment. And again, great people there, great firm, but

557
00:30:30.240 --> 00:30:32.119
it was kind of it was the moment and the

558
00:30:32.160 --> 00:30:35.880
big takeaway or the light going off was that I'm

559
00:30:36.319 --> 00:30:40.359
I'm an entrepreneurial attorney in regards to again, I'm an attorney,

560
00:30:40.359 --> 00:30:43.640
but going out making business, growing that book.

561
00:30:43.720 --> 00:30:45.759
Yeah, attorneys or business people, they better be right.

562
00:30:45.759 --> 00:30:48.079
We're service providers. We have to be.

563
00:30:48.559 --> 00:30:54.160
And that that experience and that model was was not entrepreneurial.

564
00:30:54.200 --> 00:30:55.720
It was just, I don't want to say, an old

565
00:30:55.759 --> 00:30:58.119
boys and girls network, but it was. It was very

566
00:30:58.519 --> 00:31:04.240
insular and established. So Okiel, Yes, And so I knew

567
00:31:04.279 --> 00:31:08.599
that that structure and then probably that that community was

568
00:31:08.680 --> 00:31:12.279
not really the best for me, because I would I'd

569
00:31:12.279 --> 00:31:15.279
fail left and right in terms of it was clear,

570
00:31:15.440 --> 00:31:20.680
especially in the professional service provider world of attorneys, accountants, insurance,

571
00:31:21.240 --> 00:31:27.279
that there were generations at play of locals, and that

572
00:31:27.759 --> 00:31:30.880
to kind of break into that as an outsider would

573
00:31:30.920 --> 00:31:34.359
be difficult and probably not the best use of time.

574
00:31:35.720 --> 00:31:38.599
But that was your ability to get back, as you said,

575
00:31:38.640 --> 00:31:42.960
family reasons, not back for your wife to get back.

576
00:31:43.240 --> 00:31:45.279
No, that's how we got back again.

577
00:31:45.359 --> 00:31:48.039
We got back, and that was the lesson in which

578
00:31:48.079 --> 00:31:50.920
I took from after that with my next job. And

579
00:31:51.000 --> 00:31:54.279
part of the reason I was there, Everett and was

580
00:31:54.359 --> 00:31:57.400
at that firm is very entrepreneurial.

581
00:31:57.519 --> 00:31:58.920
So that's when you and I met, when you were

582
00:31:58.920 --> 00:31:59.599
at Darrel Everett.

583
00:31:59.799 --> 00:32:04.519
Yeah, yes, yeah, yeah, years a lifetime ago, and again

584
00:32:04.680 --> 00:32:07.759
looking there, even as an associate attorney, where generally you're

585
00:32:07.799 --> 00:32:10.799
not looked at to get business or co out in business,

586
00:32:11.200 --> 00:32:14.200
they actually had a weekly requirement to go out in

587
00:32:14.240 --> 00:32:17.240
the community. And again the expectations were pretty low, but

588
00:32:17.720 --> 00:32:19.759
you have to learn and you had to start somewhere.

589
00:32:20.240 --> 00:32:23.559
And that was exactly what I was looking for because

590
00:32:23.599 --> 00:32:26.880
when I came up north, and again especially after the

591
00:32:26.880 --> 00:32:30.200
Fletcher Tilton experience, I realized not being in New Englander,

592
00:32:30.240 --> 00:32:34.279
there's nothing wrong with it, but being from somewhere, whether

593
00:32:34.319 --> 00:32:37.799
it's a college, a town, that you could tap into

594
00:32:37.799 --> 00:32:40.039
that community for contacts, and that's how we start to

595
00:32:40.039 --> 00:32:43.240
build a network and then from there you built a

596
00:32:43.279 --> 00:32:47.440
book of business out of that network. And that was

597
00:32:47.599 --> 00:32:49.960
what was important for me, was I had to build

598
00:32:49.960 --> 00:32:53.480
a network because I had nothing, and so being the

599
00:32:53.640 --> 00:32:58.599
entrepreneurial lane was very helpful and that's what I started

600
00:32:58.640 --> 00:33:01.640
at that time, and again being an attorney and working

601
00:33:01.680 --> 00:33:05.920
on that and developing my practice there, but also understanding

602
00:33:05.960 --> 00:33:11.000
about networking, building a network and realizing that to be successful,

603
00:33:11.079 --> 00:33:14.119
especially as an attorney and as a service provider, at

604
00:33:14.119 --> 00:33:16.279
a certain amount of time or a certain place in

605
00:33:16.319 --> 00:33:19.599
your career. It's just not enough to be proficient at

606
00:33:19.599 --> 00:33:21.680
the work that's being put in front of you. You

607
00:33:21.799 --> 00:33:24.920
have to also bring in work for yourself and potentially others,

608
00:33:25.400 --> 00:33:29.839
if you're looking to continue to climb the career, or

609
00:33:29.920 --> 00:33:33.599
if you're looking to put yourself in a position. As

610
00:33:33.640 --> 00:33:37.839
they said, the the golden rule is gold and if

611
00:33:37.880 --> 00:33:40.440
you can bring in a lot of money, you'll be

612
00:33:40.480 --> 00:33:42.359
able to dictate your terms.

613
00:33:43.279 --> 00:33:46.759
So then you made your way to this is interesting,

614
00:33:46.839 --> 00:33:50.400
the Presty law. But Greater Boston. Is that an office

615
00:33:50.640 --> 00:33:53.599
of the DC firm or is that a new firm?

616
00:33:54.000 --> 00:33:57.640
So it is an office of the firm. And this

617
00:33:57.720 --> 00:34:01.279
now goes back to COVID. And in end of twenty

618
00:34:01.400 --> 00:34:04.960
or end of nineteen twenty nineteen, I knew that my

619
00:34:05.079 --> 00:34:08.079
time at Dara Everett was coming to an end, solely

620
00:34:08.119 --> 00:34:12.039
for the fact that the man behind the firm, Zach

621
00:34:12.119 --> 00:34:15.880
Darrow I want to say twenty seventeen, had moved to

622
00:34:15.920 --> 00:34:20.320
Florida and was spending more time out of the Miami practice.

623
00:34:20.400 --> 00:34:24.199
So fast forward a couple of years. The Miami office

624
00:34:24.239 --> 00:34:26.679
had grown a lot, as he had been down there,

625
00:34:26.719 --> 00:34:29.000
a lot, which makes sense. There was also a New

626
00:34:29.079 --> 00:34:32.039
York Office of Providence, Rhode Island, which was kind of

627
00:34:32.039 --> 00:34:35.400
the headquarters, and then mass mass was not really kind

628
00:34:35.400 --> 00:34:38.519
of mission critical. So while again knock on Wood I

629
00:34:39.159 --> 00:34:42.239
was doing well, I was growing, it was clear I

630
00:34:42.320 --> 00:34:44.440
was growing, and it had a point where the firm

631
00:34:44.480 --> 00:34:49.239
wasn't going to be interested at so looked around. Actually,

632
00:34:49.280 --> 00:34:53.239
in January of twenty twenty, started a partnership with a

633
00:34:53.280 --> 00:34:57.719
couple of former colleagues, which crashed and burned extremely quickly.

634
00:34:58.239 --> 00:35:02.840
So now go end of March, we're now COVID.

635
00:35:02.559 --> 00:35:05.760
Before we're all lockdown. Yeah, yeah, but no one's working

636
00:35:05.800 --> 00:35:06.360
at that point.

637
00:35:06.440 --> 00:35:08.760
So it was really the question of do I start

638
00:35:08.760 --> 00:35:11.320
my own firm at that moment, or do I open

639
00:35:11.400 --> 00:35:14.760
up a satellite office of an existing firm, which is

640
00:35:14.800 --> 00:35:18.199
what I did, because in terms of starting a business

641
00:35:18.400 --> 00:35:22.639
again professional licensure as an attorney, it was it would

642
00:35:22.679 --> 00:35:25.639
have been a lot more hurdles, especially at a time

643
00:35:25.719 --> 00:35:28.840
when people weren't answering the phone. It was again not

644
00:35:29.000 --> 00:35:32.239
until maybe June or so of twenty twenty when people

645
00:35:32.320 --> 00:35:34.000
realized we're gonna have to work through COVID.

646
00:35:34.119 --> 00:35:36.079
Yeah, it was only gonna be two weeks, yeah, no.

647
00:35:36.039 --> 00:35:38.679
Two two weeks maybe a little bit more than the world.

648
00:35:38.400 --> 00:35:42.039
Of reset, and that's not what happened. So yeah, So

649
00:35:42.280 --> 00:35:46.519
Lepressey Law is again founded in two thousand and three,

650
00:35:47.079 --> 00:35:50.440
and again it's my dad's firm. It was never meant

651
00:35:50.599 --> 00:35:53.000
to be a father and son and it's not now.

652
00:35:53.039 --> 00:35:55.239
If anything, it's viewed as a kind of think of

653
00:35:55.280 --> 00:36:00.400
it as an expense sharing relationship and so on in

654
00:36:00.440 --> 00:36:04.079
twenty twenty and then ended up taking over operations in

655
00:36:04.199 --> 00:36:08.480
twenty twenty two and now still working with my dad,

656
00:36:08.519 --> 00:36:11.360
which is great. He's in what he calls his glide path.

657
00:36:13.119 --> 00:36:16.239
He's on his way to retirement at his own pace.

658
00:36:17.519 --> 00:36:20.320
But it sounds like you guys have a working relationship,

659
00:36:20.400 --> 00:36:23.360
unlike I've seen in a lot of other quote family

660
00:36:23.400 --> 00:36:28.000
businesses where all due respect, dad sticks around too long.

661
00:36:29.199 --> 00:36:34.360
Yes, no, And the dynamic is different because it's an

662
00:36:34.360 --> 00:36:35.599
expense sharing situation.

663
00:36:36.000 --> 00:36:39.639
Again. He has his world, his clients. I have mine.

664
00:36:40.079 --> 00:36:43.039
So it's not again you think of traditional family business

665
00:36:43.079 --> 00:36:44.960
where it's the kind of the turning over the keys

666
00:36:45.039 --> 00:36:48.400
of whether again it's a physical building or again kind

667
00:36:48.400 --> 00:36:51.400
of all the clients that were one generation are now

668
00:36:51.440 --> 00:36:54.480
coming years and again there will be some clients and

669
00:36:54.480 --> 00:36:58.880
there are some clients that shared, but generally he's got

670
00:36:58.880 --> 00:37:01.760
his stuff and I've got mine, which from a pressure

671
00:37:01.800 --> 00:37:04.280
and intensity purpose, is kind of great because it isn't

672
00:37:04.840 --> 00:37:06.639
it's it's very low pressure.

673
00:37:07.440 --> 00:37:09.159
It gives him, it sounds to me like it gives

674
00:37:09.199 --> 00:37:11.599
him all kinds of freedom to chart his path whenever

675
00:37:11.639 --> 00:37:13.639
he wants to step away. It's not going to negatively

676
00:37:13.639 --> 00:37:17.480
impact you, exactly. And he's in control of that. You're

677
00:37:17.519 --> 00:37:18.199
in control of that.

678
00:37:19.039 --> 00:37:22.039
So he's it's and so it's fun and and so

679
00:37:23.119 --> 00:37:27.679
the only troubled times are when there's technology upgrades and uh,

680
00:37:27.760 --> 00:37:29.960
and then that that hits him, and then there's usually

681
00:37:29.960 --> 00:37:32.719
a couple of emails a zoomed to figure something out.

682
00:37:32.719 --> 00:37:35.679
But other than that, he's usually pretty happy about the arrangement.

683
00:37:36.000 --> 00:37:39.920
But the expletives don't make the filter though, right, No, no, And.

684
00:37:40.719 --> 00:37:44.360
Again we have a consultant for our outsourced I T

685
00:37:45.079 --> 00:37:49.039
which again so poor for them, is then usually the

686
00:37:49.079 --> 00:37:49.840
tip of the spear.

687
00:37:50.440 --> 00:37:52.559
All right, So let's dig into the work that you do.

688
00:37:54.360 --> 00:37:58.199
It's all business focused. You're working with your clients that

689
00:37:58.320 --> 00:38:02.079
probably range in size and industry. Give us sort of

690
00:38:02.119 --> 00:38:04.639
a probably not fair to say, thumbnil give us a

691
00:38:04.679 --> 00:38:07.639
description of the types of clients that you work with.

692
00:38:08.679 --> 00:38:12.719
We were with a variety and again from small to

693
00:38:13.639 --> 00:38:16.239
someone setting up their own company and I need some

694
00:38:16.480 --> 00:38:20.320
basic guidance that again could probably maybe pay a vendor

695
00:38:20.400 --> 00:38:23.320
online to do it, but in terms of learning and

696
00:38:23.039 --> 00:38:25.159
bet and process, that's not the best.

697
00:38:25.239 --> 00:38:28.800
Yeah, ce Corpes Corp LLC. Right, right, what's the right

698
00:38:28.880 --> 00:38:31.519
choice for that entity partner exactly?

699
00:38:31.719 --> 00:38:35.320
And we'll pervent some basic documents right now, there's there's

700
00:38:35.480 --> 00:38:37.800
it's easy access to a lot of information, which in

701
00:38:37.840 --> 00:38:40.920
itself becomes a problem because there's there's right information, there's

702
00:38:40.960 --> 00:38:45.639
wrong information, there's over information. And so again we say

703
00:38:45.639 --> 00:38:48.960
nothing's too small, and then we work all the way

704
00:38:49.239 --> 00:38:54.119
again through operations, ongoing matters with owners, transactions up to

705
00:38:54.800 --> 00:38:59.119
medium large companies which again have hundreds of employees. Again

706
00:38:59.239 --> 00:39:03.159
top line revenue you can go into tens or hundreds

707
00:39:03.159 --> 00:39:07.000
of millions. But at the end of the day, the

708
00:39:07.039 --> 00:39:10.840
common threat is in terms of ownership, there is a

709
00:39:10.880 --> 00:39:15.000
defined ownership group and we're not near anything towards public

710
00:39:15.199 --> 00:39:18.559
or that that is a different end of the ecosystem.

711
00:39:18.920 --> 00:39:23.840
So we work with yet little too again Main Street

712
00:39:23.960 --> 00:39:28.960
Boston or anywhere downtown that again appreciates what we do here,

713
00:39:29.039 --> 00:39:32.119
which is working with businesses, business owners, and that's what

714
00:39:32.159 --> 00:39:35.239
we focus on, but without what we say is the

715
00:39:35.239 --> 00:39:38.280
downtown fee. Again, our goals to kind of slip it

716
00:39:38.320 --> 00:39:41.679
and provide the value. Since this is what we do,

717
00:39:41.719 --> 00:39:44.320
We've done it our whole careers. And while we don't

718
00:39:44.360 --> 00:39:47.840
have the bench and some would say the name recognition

719
00:39:47.880 --> 00:39:51.440
of some of those larger firms, again, we're there when

720
00:39:51.599 --> 00:39:55.840
you don't want to pay fifteen hundred dollars and we're

721
00:39:55.880 --> 00:39:58.880
happy to help you out at a reasonable rate. But

722
00:39:58.920 --> 00:40:02.480
sometimes you do that those firms and those matters, and

723
00:40:02.480 --> 00:40:04.920
and again we'll be honest that that's not us, but.

724
00:40:04.920 --> 00:40:07.679
You have a deep referral network to know those guys.

725
00:40:08.039 --> 00:40:10.079
Yes, if it ever gets that big, if you've got

726
00:40:10.079 --> 00:40:12.599
a company that hits the rocket and you need to

727
00:40:12.599 --> 00:40:15.159
do an I p O, it's never going to be me,

728
00:40:15.360 --> 00:40:17.480
but I'll get you to someone that that's going to

729
00:40:17.559 --> 00:40:20.079
be more than happy to help you. And and again

730
00:40:20.159 --> 00:40:22.519
they're they're probably going to be about fifteen hundred dollars

731
00:40:22.559 --> 00:40:25.000
an hour, but that's like, that's that's what it is.

732
00:40:25.159 --> 00:40:27.559
If that's what the matter requires, right, And so it's

733
00:40:27.599 --> 00:40:30.679
really anything law related in there's a lot of law

734
00:40:31.960 --> 00:40:34.800
baked into business purchasing a piece of real estate, selling

735
00:40:34.880 --> 00:40:37.880
a person piece of real estate, partnerships.

736
00:40:39.159 --> 00:40:40.039
Most paperwork.

737
00:40:40.199 --> 00:40:43.159
Again I joke, I'm a paperwork nerd in terms of

738
00:40:43.199 --> 00:40:47.239
the company. If you're signing something there there's a reason.

739
00:40:47.440 --> 00:40:50.239
And again you're you're either looking to make money, you're

740
00:40:50.280 --> 00:40:53.519
looking to access something. Again, with a commercial lease, you

741
00:40:53.519 --> 00:40:57.519
can access brick and mortar space.

742
00:40:57.920 --> 00:40:59.719
A lot of companies, some of these are my clients,

743
00:40:59.719 --> 00:41:02.119
when they do a deal with their client, there's paper.

744
00:41:02.199 --> 00:41:06.280
They call it paper, right, is it the prospects paper

745
00:41:06.559 --> 00:41:10.159
or is it the seller's paper? And there's you know

746
00:41:10.199 --> 00:41:13.280
that documents, those documents. This is for the audience sake.

747
00:41:13.320 --> 00:41:15.800
I know you know this. I'm trying to draw this out.

748
00:41:16.039 --> 00:41:19.199
Is uh you know which is better? Depends on the

749
00:41:19.199 --> 00:41:21.159
side you're on and how should how is it written?

750
00:41:21.159 --> 00:41:23.440
It depends on the side you're on, right, And who's

751
00:41:23.440 --> 00:41:25.559
going to review it? Well, it better be reviewed before

752
00:41:25.559 --> 00:41:26.360
anybody signs it.

753
00:41:26.719 --> 00:41:29.239
Absolutely, And I know that's self interested because I'm one

754
00:41:29.320 --> 00:41:33.440
of those people, but that's really we and again, businesses

755
00:41:33.599 --> 00:41:38.360
and business owners that know what they're doing understand that

756
00:41:38.760 --> 00:41:41.480
it's best to bring in a professional, and it could

757
00:41:41.480 --> 00:41:44.719
they figure it out themselves probably, but again it's it's

758
00:41:44.800 --> 00:41:46.880
usually what gets you is now what's in front of you,

759
00:41:47.039 --> 00:41:47.599
it's what you.

760
00:41:47.519 --> 00:41:48.360
Didn't see coming.

761
00:41:48.599 --> 00:41:52.679
And without being a professional on that line, it just

762
00:41:53.679 --> 00:41:55.880
pay the professional, get it done, and then go to

763
00:41:55.920 --> 00:41:59.639
your highest revenue earning activities. If you're in sales, have

764
00:41:59.719 --> 00:42:03.960
a go sell more. If you're manufacturing, go make more stuff.

765
00:42:04.039 --> 00:42:07.599
And that's where we kind of come in to assist

766
00:42:08.320 --> 00:42:12.679
in making money. Another big thing is protecting liability, to

767
00:42:12.800 --> 00:42:16.800
make sure people don't take money away, and that's where

768
00:42:16.840 --> 00:42:19.800
we come in. And a lot of it is documenting

769
00:42:20.000 --> 00:42:23.119
and making sure that when parties understand I'm bringing this in,

770
00:42:23.599 --> 00:42:27.559
you're bringing that, we're building this together, you're putting money in.

771
00:42:27.679 --> 00:42:28.960
Now I'm doing here.

772
00:42:29.079 --> 00:42:31.280
This is how it comes out, this is what happens

773
00:42:31.320 --> 00:42:35.760
if something goes wrong, it's really again documenting the process

774
00:42:35.800 --> 00:42:40.400
and making the parties understand how things work. And again,

775
00:42:40.559 --> 00:42:43.280
God forgiven, if anything bad happens, then you kind of

776
00:42:43.280 --> 00:42:46.559
have the initial playbook of how to unwind, uncouple, and

777
00:42:47.199 --> 00:42:48.760
try to figure out a dispute.

778
00:42:49.159 --> 00:42:52.000
Yeah, I mean, I'm sure you've heard way more than me.

779
00:42:52.079 --> 00:42:54.280
But I've heard a few more stories of partnerships that

780
00:42:54.320 --> 00:42:56.079
are dissolving. And it's like a divorce.

781
00:42:57.280 --> 00:43:01.159
It's a business divorce, it is, and there's as much

782
00:43:01.159 --> 00:43:04.639
emotions as in it's a relationship. Again, it's it's a

783
00:43:04.679 --> 00:43:07.800
professional relationship, not a personal relationship.

784
00:43:07.880 --> 00:43:10.079
But still there.

785
00:43:10.440 --> 00:43:14.599
We have our egos, we've been slighted or perceived slides,

786
00:43:15.079 --> 00:43:19.800
and everyone will say it's the principle, and yet it

787
00:43:19.800 --> 00:43:22.400
can get brutal. And the worst times is when there's

788
00:43:22.440 --> 00:43:27.599
nothing there because if there's a disagreement, again, no one's happy.

789
00:43:27.679 --> 00:43:30.559
But if there's a process there, you just start going

790
00:43:30.599 --> 00:43:33.400
through the steps. You do this, I do that, we

791
00:43:33.519 --> 00:43:36.719
figure out the value here. No one's really happy, but

792
00:43:36.840 --> 00:43:40.559
you're moving forward and again getting to a place where

793
00:43:40.639 --> 00:43:43.719
you're there getting rid of the assets or one's taking

794
00:43:43.760 --> 00:43:46.440
them from the other and the others getting compensation. But

795
00:43:46.800 --> 00:43:49.840
you're moving past the pain point, and that's the goal.

796
00:43:49.880 --> 00:43:53.639
When you don't have paperwork, there's no process, you're you're

797
00:43:53.719 --> 00:43:56.960
stuck in the mud of really what the two parties

798
00:43:57.039 --> 00:43:57.480
want to do.

799
00:43:58.079 --> 00:43:59.920
And so the old, the old adage of never get

800
00:44:00.079 --> 00:44:04.519
into business with your friend isn't really true. It's don't

801
00:44:04.519 --> 00:44:07.360
do it without documenting things. It's don't do it without

802
00:44:07.400 --> 00:44:09.719
agreements upfront. And you set a key phrase. I think,

803
00:44:12.159 --> 00:44:14.239
how'd you say it about? You know, you implied when

804
00:44:14.320 --> 00:44:15.920
things go bad, and they often do.

805
00:44:17.119 --> 00:44:19.719
When things are going well, no one looks at the paperwork, right,

806
00:44:20.199 --> 00:44:22.880
they know how processes are going and people are going

807
00:44:22.880 --> 00:44:26.840
out to lunch, smiles, phone calls of you're doing great.

808
00:44:27.119 --> 00:44:30.360
It's when oh, we're not making enough money as we

809
00:44:30.440 --> 00:44:34.039
thought we would, or things are moving slower. That's when

810
00:44:34.079 --> 00:44:36.400
you start looking at the paperwork to say, okay, well

811
00:44:36.440 --> 00:44:39.719
what are my options here? And it's not the best

812
00:44:39.719 --> 00:44:42.960
place to be, but unfortunately it happens, and it happens

813
00:44:42.960 --> 00:44:47.679
with some regular regularity. In business, not everything is a success.

814
00:44:47.840 --> 00:44:50.960
There's failures, and then again there's a whole gray area

815
00:44:51.000 --> 00:44:54.599
of might be failure, might be success, somewhere in the middle,

816
00:44:55.199 --> 00:44:59.719
and again completely self interested. But having a process in

817
00:44:59.760 --> 00:45:03.679
place is smart planning, and it again you don't need

818
00:45:03.679 --> 00:45:05.639
to pay a ton for it, and against it can

819
00:45:05.679 --> 00:45:09.320
be replicated. I call it institutional knowledge. The longer you

820
00:45:09.360 --> 00:45:11.760
work with a professional that the easier it is for

821
00:45:11.800 --> 00:45:15.360
he or you. Assist and that's really where we come

822
00:45:15.400 --> 00:45:16.679
in again.

823
00:45:16.480 --> 00:45:17.800
So talk about business.

824
00:45:18.159 --> 00:45:20.960
So sorry, talk about the term outside general counsel for

825
00:45:21.039 --> 00:45:22.199
those that don't know what that means.

826
00:45:23.239 --> 00:45:26.519
So in outside general counsel, it's really a term for

827
00:45:26.719 --> 00:45:28.840
businesses that have legal.

828
00:45:28.599 --> 00:45:32.280
Needs but aren't going ongoing ongoing legal.

829
00:45:32.079 --> 00:45:34.239
Needs, but aren't going to have an attorney on staff.

830
00:45:34.320 --> 00:45:38.639
It doesn't make sense from a need, from a price

831
00:45:38.679 --> 00:45:42.360
point to have an attorney inside the business. So what

832
00:45:42.440 --> 00:45:45.559
you look for is again an attorney outside the business

833
00:45:46.039 --> 00:45:49.519
that again can provide that council with as much regularity

834
00:45:49.559 --> 00:45:52.960
as needed. So again it's not that every Monday there's

835
00:45:53.000 --> 00:45:55.199
a call or a meeting. Again, there can be if

836
00:45:55.199 --> 00:45:57.559
the client needs it. Is that probably the best use

837
00:45:57.599 --> 00:46:01.519
of the time. No, unless there's a weekly impression. But

838
00:46:02.320 --> 00:46:05.199
it's working. I call it the boomerang effect to an extent,

839
00:46:05.440 --> 00:46:09.320
is that you have the relationship and when something comes up,

840
00:46:10.440 --> 00:46:11.760
that's the boomerang coming.

841
00:46:11.599 --> 00:46:13.519
In and hey, this is a matter.

842
00:46:13.599 --> 00:46:16.840
It could be something our commercial landlord sent us some

843
00:46:16.840 --> 00:46:19.719
paperwork to get looked at, or you've just had an

844
00:46:19.760 --> 00:46:23.719
employee quit and sent this over. It can be anything,

845
00:46:23.840 --> 00:46:26.440
but that's that's the come in and then we usually

846
00:46:26.480 --> 00:46:28.360
will address it. If I can do it in house.

847
00:46:29.000 --> 00:46:29.320
Great.

848
00:46:29.360 --> 00:46:33.119
If again, let's say it's an employment situation, I do

849
00:46:33.400 --> 00:46:35.920
I call employment light. But if again an employee files

850
00:46:35.920 --> 00:46:38.960
a lawsuit, we're not helping. So again we'll get them

851
00:46:38.960 --> 00:46:41.639
to the right professional that will assist in that moment.

852
00:46:42.719 --> 00:46:45.679
And then again once the matter is resolved, or maybe

853
00:46:45.679 --> 00:46:48.880
it's a contract situation, but it's done. Again, that's the

854
00:46:48.880 --> 00:46:53.719
boomerang boomerang zooming out and maybe they come back a week,

855
00:46:53.760 --> 00:46:56.119
a month, six months, but it's really as an as

856
00:46:56.199 --> 00:47:00.480
needed relationship. But again, you have what I call institutional knowledge,

857
00:47:00.519 --> 00:47:03.639
which is okay, this is why things are done, or.

858
00:47:03.760 --> 00:47:06.440
Is you're not starting all over again understanding the wise.

859
00:47:07.039 --> 00:47:09.239
Yeah, this is why we handle it this way. But

860
00:47:09.320 --> 00:47:11.679
this is why we're not handling it that way. It's

861
00:47:11.880 --> 00:47:16.239
it's that ability, which again brings i'd say a lot

862
00:47:16.280 --> 00:47:18.960
of value. The longer it goes on, wall costs get

863
00:47:19.000 --> 00:47:19.519
cut down.

864
00:47:20.880 --> 00:47:23.280
So it's all those events that take place, it's all

865
00:47:23.320 --> 00:47:30.679
those transactions that might seem minor. Lease right, seems minor,

866
00:47:30.719 --> 00:47:32.119
but it's a lot of pages.

867
00:47:32.119 --> 00:47:33.760
A lot of pages. And again, if you've got a

868
00:47:33.800 --> 00:47:36.760
personal guarantee and you're the owner. I mean that means

869
00:47:36.800 --> 00:47:40.440
you're you're responsible for it just as much. Again, the

870
00:47:40.559 --> 00:47:43.800
lease work we do is also with companies where there's

871
00:47:43.840 --> 00:47:47.199
what we call buildouts. So it could be a medical practice,

872
00:47:47.880 --> 00:47:51.079
could be retailed, but again that that's basically a construction

873
00:47:51.159 --> 00:47:54.840
agreement inside a lease. And again you want to make

874
00:47:54.880 --> 00:47:57.360
sure it's going along the same time. And then also

875
00:47:57.440 --> 00:48:01.000
with that, who's paying What is the lord paying fully

876
00:48:01.000 --> 00:48:03.400
for the build out? Are you paying twenty percent, they're

877
00:48:03.440 --> 00:48:06.280
paying eighty percent? If so, are you doing it at

878
00:48:06.280 --> 00:48:08.400
the same time or as you're the first twenty and

879
00:48:08.440 --> 00:48:09.440
they're the last eighty.

880
00:48:09.800 --> 00:48:13.960
Things like that matter, and again PaperWorks nerves. But that's what.

881
00:48:13.960 --> 00:48:16.159
We look at and that's what we do because there's

882
00:48:16.280 --> 00:48:19.119
reasons for it, and it's always kind of the bodyguard

883
00:48:19.400 --> 00:48:22.639
of protecting the business and the business owner. That again

884
00:48:22.679 --> 00:48:25.400
there's a cost of doing business and putting yourself out there,

885
00:48:25.440 --> 00:48:28.679
but making sure that you're aware of your risks and

886
00:48:28.719 --> 00:48:31.280
you're not taking more risks than you should.

887
00:48:32.039 --> 00:48:33.480
All right, believe it or not, we only have time

888
00:48:33.519 --> 00:48:35.519
for a couple of more questions. First, what do you

889
00:48:35.880 --> 00:48:37.119
is kind of a big one, but what are you

890
00:48:37.159 --> 00:48:39.880
most proud of in your career thus far.

891
00:48:41.239 --> 00:48:46.519
Thus far, I'd say the entrepreneurial aspect and realizing and

892
00:48:46.519 --> 00:48:51.519
again I'm nothing special, but again it's we're professional service provider.

893
00:48:51.800 --> 00:48:57.960
We have to the floor is providing good quality service.

894
00:48:58.760 --> 00:49:01.679
Beyond that, it's it's the business aspect of it. It

895
00:49:01.639 --> 00:49:06.800
is sales, marketing growth and that's been something in my

896
00:49:06.920 --> 00:49:10.639
career and I'm focusing on now again of how to

897
00:49:10.639 --> 00:49:13.239
build a business in addition to being an attorney, and

898
00:49:13.519 --> 00:49:17.440
this business is a law firm and that especially the

899
00:49:17.480 --> 00:49:20.679
last years, the last couple of years has been a

900
00:49:20.719 --> 00:49:24.599
great experience, a frustrating experience at times, but I feel

901
00:49:24.599 --> 00:49:28.360
like where I'm at now in being able to build

902
00:49:28.440 --> 00:49:31.639
something and again more than just a book of business,

903
00:49:32.159 --> 00:49:34.840
but something that again there's others that are working here

904
00:49:34.880 --> 00:49:36.000
at along for the ride.

905
00:49:36.320 --> 00:49:37.880
Is That's what I'm proud of.

906
00:49:37.880 --> 00:49:37.920
It.

907
00:49:37.960 --> 00:49:41.280
Again, we're nothing yet, but we're we're hopefully going to

908
00:49:41.440 --> 00:49:43.559
build something in a little bit of our own model

909
00:49:43.800 --> 00:49:45.280
and see how it works.

910
00:49:45.559 --> 00:49:47.960
Well. We're hearing good things. We are out of time.

911
00:49:48.000 --> 00:49:53.800
He's Nick Lapresty and Lapresty at Laprestylaw dot com or

912
00:49:54.000 --> 00:49:57.800
six one seven three five one four seven five four.

913
00:49:58.280 --> 00:50:00.440
Reach out to him if you are a bit business

914
00:50:00.480 --> 00:50:04.880
in need of legal assistance, whether it's specific or ongoing. Nick,

915
00:50:04.920 --> 00:50:07.880
thank you very much. Thanks Kevin, You're quite welcome, and

916
00:50:07.880 --> 00:50:10.639
thanks everybody for listening and watching. This is the show

917
00:50:10.639 --> 00:50:14.000
about business and business challenges. If you've got concerns about

918
00:50:14.039 --> 00:50:16.920
the sales effectiveness of your company, whether your sales team

919
00:50:17.000 --> 00:50:19.360
is you or small or large, feel free to reach

920
00:50:19.360 --> 00:50:22.480
out to me on Facebook or LinkedIn at Winning Business Radio.

921
00:50:22.639 --> 00:50:25.719
You can drop me a note. That's Kevinatwinning Business Radio

922
00:50:25.800 --> 00:50:29.039
dot com. We are Winning Incorporated, part of Sandler Training.

923
00:50:29.119 --> 00:50:33.079
We say we develop sales teams into high achievers and

924
00:50:33.159 --> 00:50:36.880
sales leaders into true coaches and mentors. We're not right

925
00:50:36.920 --> 00:50:39.079
for everybody, but hey, maybe we should have a conversation.

926
00:50:39.159 --> 00:50:42.119
That's up to you. Thanks as always to producer and

927
00:50:42.159 --> 00:50:44.480
engineer Jan Thank you one for another job well done.

928
00:50:44.480 --> 00:50:47.679
Please be sure to join us next week Monday, January thirteenth,

929
00:50:47.840 --> 00:50:50.199
My guest is going to be Katie Dustin, president of

930
00:50:50.360 --> 00:50:54.719
JED Insurance and Financial Services. Until then, this is Kevin Halliian.

931
00:50:56.800 --> 00:50:59.599
You've been listening to Winning Business Radio with your host

932
00:50:59.679 --> 00:51:02.760
Kevin Helen. If you missed any part of this episode.

933
00:51:02.880 --> 00:51:07.039
The podcast is available on Talk for Podcasting and iHeartRadio.

934
00:51:07.519 --> 00:51:11.199
For more information and questions, go to Winning Business Radio

935
00:51:11.320 --> 00:51:14.360
dot com or check us out on social media. Tune

936
00:51:14.400 --> 00:51:16.440
in again next week and every Monday at four pm

937
00:51:16.480 --> 00:51:20.000
Eastern Time to listen live to Winning Business Radio on

938
00:51:20.280 --> 00:51:24.519
W four CY Radio w four cy dot com. Until then,

939
00:51:24.880 --> 00:51:28.480
let's succeed where others have failed and win in business

940
00:51:28.760 --> 00:51:32.840
with Kevin Halenan and Winning Business Radio