Whether they are startups or established entities, businesses are striving to level the leadership playing field. To help make gender equality in business leadership a reality, Perkins Coie is proud to offer Le[a]dBetter®, an innovative program that supports startups with women in senior executive roles, and Le[a]dBetter® Imagine, a unique offering that recognizes women inventors and their companies.

Le[a]dBetter®

Le[a]dBetter® was inspired by the Lilly Ledbetter Fair Pay Act of 2009, legislation drafted in response to the Lilly Ledbetter gender wage gap lawsuit and the first bill signed into law by former President Barack Obama. An innovative educational, networking, and alternative fee arrangement program, it is designed to offer support to companies in the startup ecosystem that demonstrate inclusion and business leadership diversity in their executive suite.

We know that capital is the primary catalyst for business growth. To help women business leaders maximize their company’s capital, we are offering qualifying startups with at least one woman in a senior leadership role a 15% discount off of our standard hourly rates for certain legal services for a limited period. We also include fee packages not based on hourly rates, one example of which is Le[a]dBetter® Imagine.tter

Le[a]dBetter® Imagine

Contributions by women inventors are critical to advancing innovation. To create a more inclusive IP environment, Perkins Coie developed Le[a]dBetter® Imagine, a program that honors the work of women inventors and offers key benefits to support women’s participation in the innovation ecosystem. Le[a]dBetter® Imagine, inspired by the USPTO’s Progress and Potential Report, provides women inventors and their companies with educational programming, networking events, and discounts for select patent services under Perkins Coie’s Le[a]dBetter® program.

Le[a]dBetter® Imagine offers alternative fee arrangements for Le[a]dBetter-qualifying startups and emerging companies by offering credit for nonprovisional patent application filings that name woman inventors.

Women in Senior Leadership Roles and Funding of General Diverse VC-backed Startups

Venture capital funding overall has surged in recent years, but the numbers for female founders haven't progressed at the same pace. Last year, global VC funding to female founders dropped dramatically. Crunchbase data confirms more than 800 female-founded startups globally received a total of $4.9 billion in venture funding through mid-December, representing a 27% decrease over the same period last year.

Hundreds of new female-led companies were launched in the past 12 months and many women-led funds and incubators focused on female founders invested in them. According to International Finance Corporation, only 11% of seed funding capital in emerging markets goes to companies with a woman on their founding team, and the figures are even lower - 5% - for later-stage funding.

The gender pay, financing, and leadership gaps between women of color is even larger. If you are a founder of color, particularly African-American woman or Latina, you face enormous challenges in obtaining funding in this environment, but the landscape is getting better. As of December 2018, only 34 Black female founders had ever raised $1 million in venture capital for their company. In recent years, ProjectDiane, a biennial report on the state of Black and Latinx women founders by the organization digital undivided, reported that stat has nearly tripled, with 93 Black women and 90 Latinas now reporting they have secured $1 million or more in investor backing for their businesses.

Why Focus on Startups?

We developed Le[a]dBetter® to encourage startups and their investors to establish and value a culture of inclusion and gender equality from day one. Women play a vital role in the success of our firm, and we know they can and have played critical roles in the successes of numerous startups. We want to do our part to support startups that are committed to excellence in diversity and demonstrate that commitment by recognizing the accomplishments and contributions of women.