Expert Columns

Linda Markus Daniels of Daniels Daniels & Verdonik P.A.

by Mary Cantando

Mary Cantando of WomanBusinesOwner.com recently interviewed Linda Markus Daniels of Daniels Daniels & Verdonik, P.A., a niche law firm that works with emerging growth/ entrepreneurial companies. Daniel’s firm focuses on legal issues related to intellectual property, raising money and selling securities, and mergers and acquisitions, in addition to general contract and corporate law.

Your background is unique, Linda, tell us about it.

When I was in college, everyone thought I would go to law school, but I planned to find a position in international business, so, I concentrated my Public Policy major at Duke on international economics policy.  I then received an M.A. in international economics from Johns Hopkins and joined a DC consulting firm where I did international economic/business analysis. When the firm shuttered the international division, I moved to energy. At energy hearings I would sit behind the attorneys and tell then what questions to ask. It wasn’t a giant leap of logic to see that I could cut out the middle man and sit in the attorney chair. So, I decided to go to law school after all.

As I was finishing law school, my husband, Walter, decided to leave the law firm where he was practicing.  He had a large client who was interested in new technologies and I was doing work for Carolina Power & Light. Armed with these two clients, we opened the first resident law firm in Research Triangle Park with the stated purpose of practicing technology law. Since this was basically a non-existent field at that time, we were just as entrepreneurial as our clients and we were pushing the envelope of the law just as they were with technology.

Tell us about your family and how they fit into your business?  

My husband and I started the law firm together so the business looms large in our lives; its ups and downs affect us more severely than if we had separate businesses. In reality, we rarely see each other at the office and we have different clients.

We have two boys, who are the most important part of my life.  My work hours have definitely changed since having children, as have our vacation destinations and the movies I watch!

Besides CED, what organizations are you involved in?

I serve on the Board of the North Carolina Technology Association, formerly NCEITA. This year, I received the NCEITA 21 for IT Support; this was important to me because it had never gone to a woman before.I am also a charter member of the Triangle Women Presidents’ Organization and am active in NAWBO.

What has been your most exciting moment since starting the company?

What I do is really exciting in general. I get to see new technology before everyone else. I get to work with brilliant clients. I figure out how to do what has not been done before.

Probably the most exciting moment was closing the first sale of a company. This was in 1987 with the sale of Transcept Systems to Sun Microsystems. Transcept was the first RTP company with venture funding, the first investment of InterSouth Partners and the first exit of a venture-backed company. I flew to Palo Alto with the president of the company and vividly recall that two separate couriers were sent on two separate planes to DC to be sure the documents were filed with the SEC on time. It was then that I knew we could be successful in what he had set out to do.

What has been your experience in working with women entrepreneurs?

I really like working with women entrepreneurs. They are far more likely to ask questions first, rather than to act first and ask later how to undo what they have done.I have worked with very bright and talented women including Darleen Johns (Alphanumeric Systems, Inc.), Sharyn Brunk (ChemWare, Inc.), Lynda Sutton (Cato Research Ltd.), Rita Geiger (InfoStrength, Inc.) and Olwen Busch (Busch Analytics).

What is the greatest obstacle to growth for women entrepreneurs? What is the greatest opportunity?

There are still a fair number of people who treat women as if they have lesser intelligence or ability than their male counterparts. As a microcosm of the business world, Business North Carolina just selected its legal elite for 2004. This list of 45 lawyers in the business law category and 46 in the corporate counsel category includes only one female in each category.

On the other hand, there are many professionals and executives who prefer to deal with women, believing that they pay more attention to details and are actually more driven. Often because of the need to juggle family and business they are more skilled in getting things done in a timely manner.

What advice would you give to women entrepreneurs?

Too often I see the female founders of companies turning over the corporate, contract and financial work to males. These women appear afraid to handle these parts of the business. I would tell them that they can handle these components of the business every bit as well as the males they hire, and further it is very important that they understand the finances as well as the corporate technicalities.

How about advice for women considering entrepreneurship?

Don’t let the guys get you down. You can do it—and you can do it better! Oh yes, and use women service providers!