“There’s nowhere you can be that isn’t where you’re meant to be”. This classic saying holds true for Jonathan Ip, the Founder of Iterative Law Professional Corporation. Disappointed with the way science was taught at the undergraduate level, Jonathan pursued a career in teaching before ultimately turning to law, thinking that if it did not interest him, he could always fall back on his teaching experience. However, Jonathan never looked back once he began his legal career. He states that “theoretically, you are supposed to know which path you have to follow and aim straight for it, but in reality the journey is more like a zig zag, where you explore different opportunities until you find out what you are good at”.
Jonathan started his journey working with some of the top law firms and gained extensive hands-on experience with them. This included working on a variety of different transactions such as mergers & acquisitions and capital raises, including public offerings and private placements. He mentions that “most of the legal projects I worked on gave me the opportunity to directly deal with the business and develop long term relationships and arrangements with them through a practical, business-first approach to solving their legal issues.” While heading the legal team at a China-based merchant bank, he spearheaded their business development and strategic partnership projects in North America. He helped to create opportunities for blockchain companies seeking global expansion, overseas financing solutions, transaction execution, and adherence to international compliance.
Jonathan started his entrepreneurial journey with Iterative Law, a law firm that delivers legal services to start-ups, entrepreneurs, and “growth-oriented” companies. The company has successfully advised businesses in technology, blockchain, AI, biotechnology, mining, and real estate since its inception in January 2020. The company offers legal advice and expertise to corporate and commercial clients which includes corporate structuring, preparing and reviewing corporate and commercial agreements They have also led, structured, managed, and closed a broad range of Canadian, U.S. and international equity and debt issuances, lending deals and token sale transactions and share/asset sales and acquisitions. The company also works with clients in technology, blockchain, and crypto to help them understand the regulatory environment in which they operate and manage compliance in areas of uncertainty.
He states that “most start-up businesses cannot afford the traditional law firms and their billing model.” Iterative Law provides value added services by identifying the pain points in the business and developing a deep understanding of the client’s industry and their requirements, in order to provide practical business and legal advice. He adds that the company also accepts value enhancing arrangements like equity compensation and cryptocurrency payments as a part of their pricing model. This provision has helped them to align their success with that of the client’s success and add value to the work that they are doing.
The company has received an extremely positive response in the market and are catering to over two dozen clients for full and part time services. They have been hosting webinars, podcasts, and other online events as a part of their marketing strategy during the COVID -19 times. Jonathan intends to expand the business with more strategic partnerships and business partners teamed with specialized expertise in times to come. He is confident that Iterative Law will change the common perception of a “traditional lawyer” in the future. A customized and flexible approach is needed for start-ups and entrepreneurs in industries where the legal framework is very dynamic and constantly evolving.