“The landscape has grown, with more firms adopting a virtual model. Our combination of top-notch experts and profit-sharing makes us an attractive choice.”
Welcome to ValiantCEO Magazine! We are thrilled to present an insightful interview with Armen Martin, founding partner and Chief Executive Officer of Foundation Law Group LLP.
Based in Los Angeles, Armen is a corporate attorney specializing in mergers and acquisitions, venture capital, and securities offerings. He represents clients in various fields, including technology, media, financial services, manufacturing, life sciences, and telecommunications.
Foundation Law Group serves companies in technology, healthcare, real estate, and other industries, providing corporate, intellectual property, tax, and litigation law expertise. Throughout his legal career, Armen has acted as outside, part-time, or general counsel for over 500 companies, advising officers and directors of private and public entities and assisting clients in forming joint ventures worldwide.
In this conversation, Armen shares his vision for a 100% virtual law firm, the challenges and rewards of leading such an innovative practice, and his plans for the future of the firm.
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Table of Contents
What inspired you to found Foundation Law Group as a 100% virtual law firm, and how has the landscape of virtual law firms evolved since then?
Armen Martin: We believed that a fancy office was unnecessary for a successful corporate legal practice. Many clients were already virtual and trusted us with significant transactions without meeting in person.
Minimizing overhead helped us keep rates reasonable for startups and middle-market companies. The landscape has grown, with more firms adopting a virtual model.
Our combination of top-notch experts and profit-sharing makes us an attractive choice.
What challenges did you face transitioning to a virtual model, and how did you overcome them?
Armen Martin: The biggest challenge was fostering camaraderie among lawyers without a physical office.
We schedule regular in-person meetings and an annual retreat for partners, counsel, and staff, including significant others.
This has created a “family” feeling and a culture of friendship and professional collaboration.
What technologies and tools do you use for seamless virtual operations, and how do you ensure data security and client confidentiality?
Armen Martin: We use Microsoft cloud-based email and tools, iManage for file systems, and Clio for billing.
We hired an experienced IT professional to oversee our IT operations and ensure the use of sophisticated cloud-based security tools, maintaining strong policies and procedures.
What are the advantages and potential drawbacks of running a virtual law firm compared to a traditional one?
Armen Martin: The biggest advantage is lower overhead, which clients appreciate.
Even traditional clients like not subsidizing our offices and support staff.
The main drawback is the challenge of training young lawyers virtually, which is often more difficult than in-person training at traditional firms.
How do you build and maintain trust with clients virtually, and what strategies do you use to foster a strong firm culture?
Armen Martin: Even in traditional firms, I never met about 40% of my clients in person.
Clients often seek referrals from trusted business contacts and don’t always prefer in-person meetings. For those who do, I favor meeting over a meal or visiting their offices.
Can you highlight significant cases that Foundation Law Group has handled virtually?
Armen Martin: We have handled mergers and acquisitions up to $100M and over a hundred venture capital financing transactions.
On the litigation front, we’ve been involved in cases with over $100M in dispute and achieved successful results for our clients, including a $138 million jury verdict in favor of Michael Ho against Marathon Digital Holdings, Inc. for breaching a Non-Disclosure/Non-Circumvention Agreement, originally filed by Gregg Zucker at Foundation Law Group LLP.
Congratulations on the new partner joining your firm! Can you share more about their background and what they bring to the team?
Armen Martin: We’re thrilled to have Steve Cazares on board. After a distinguished career as an Assistant U.S. Attorney and at the SEC, Steve considered solo practice but decided to join us instead.
He will expand our practice areas into white-collar crime and corporate investigations, and corporate investigations making him a perfect fit.
His experience with high-profile cases will enhance our firm’s capabilities and reputation.
What are your plans for the future growth of Foundation Law Group, and how do you see the role of virtual law firms changing?
Armen Martin: We aim to add specialists in areas like taxation, executive benefits, debt and bank finance, and fund formation.
We’re constantly looking for corporate transactional attorneys who want access to our specialty lawyers.
Virtual law firms will continue to grow, with some focusing on monetizing the lawyers rather than a shared cost model like ours.
What advice would you give to legal professionals considering transitioning to a virtual law firm model?
Armen Martin: If you seek more independence and a better quality of life, consider it. Virtual law firms often operate on an “eat what you kill” model, so you need to believe in yourself.
The lower hourly rates and the fact that you keep the vast majority of what you make are appealing.
We’ve had almost zero partner turnover, and we don’t anticipate that changing soon.
What has been the most rewarding aspect of leading a virtual law firm, and how do you stay motivated as CEO?
Armen Martin: Knowing that something I formed primarily to support my family has turned into a firm that helps support 20+ families is very rewarding.
I love seeing my partners succeed and provide the help they need. Honesty and frankness are the most important qualities for a leader in the legal industry. I’ve tried to be honest with my partners, even when it’s difficult.
Jed Morley, VIP Contributor to ValiantCEO and the host of this interview would like to thank Armen Martin for taking the time to do this interview and share his knowledge and experience with our readers.
If you would like to get in touch with Armen Martin or his company, you can do it through his – Linkedin Page
Disclaimer: The ValiantCEO Community welcomes voices from many spheres on our open platform. We publish pieces as written by outside contributors with a wide range of opinions, which don’t necessarily reflect our own. Community stories are not commissioned by our editorial team and must meet our guidelines prior to being published.
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Rockstar Profile
Armen Martin: The Visionary Shaping Modern Legal Practice
Pioneering Virtual Legal Practice
Armen Martin is not just a lawyer; he’s a visionary transforming the landscape of the legal industry. With a keen eye for innovation and efficiency, Martin co-founded Foundation Law Group, LLP in 2013.
At a time when the legal field was entrenched in traditional, physical office settings, Martin recognized the untapped potential of a fully virtual law firm. His forward-thinking approach aimed to leverage technology to offer high-quality legal services with unparalleled flexibility.
This revolutionary vision not only set Foundation Law Group apart but also paved the way for a new era of remote legal practice, demonstrating that excellence does not require a physical office.
Today, Foundation Law Group boasts 16 seasoned partners and serves a broad spectrum of clients across corporate law, litigation, startups, venture capital, mergers and acquisitions, employment law, real estate, intellectual property, and tax law.
This diversity enables the firm to offer specialized services tailored to the unique needs of each client.
Education and Early Career
Martin’s impressive academic background includes a JD from UCLA Law School, where he was the Editor-in-Chief of The Docket, Moot Court, and Articles Editor for The Journal of International Law and Foreign Affairs.
He also graduated Magna Cum Laude from Claremont McKenna College with a double major in Government and Philosophy. These formative years honed his skills and set the stage for his legal career.
Mastery in Mergers and Acquisitions
Over his career, Martin has advised on more than 150 mergers and acquisitions transactions.
His clientele includes industry giants like Warner/Chappell Music, Qualcomm, and Life Technologies.
Martin’s adept handling of complex transactions has led to numerous successful liquidity events, solidifying his reputation as a top corporate attorney.
Impact in Venture Capital
Martin has facilitated over 500 venture capital financings, amassing more than $1 billion in total.
His clients range from prominent venture funds such as Benchmark Capital to strategic investors like Intel and Sony.
This extensive experience underscores his prowess in securing essential funding for startups and growing enterprises.
Thought Leadership and Community Engagement
Beyond his professional achievements, Martin is a respected thought leader and community advocate.
As an adjunct professor at Loyola Law School, he teaches startup financing and has lectured extensively on the JOBS Act and equity crowdfunding.
His community involvement includes serving on boards like the Armenian National Committee of America Western Region and providing pro bono legal services to numerous charities.
Embracing the Future of Law
Martin’s forward-thinking approach has positioned Foundation Law Group at the forefront of legal innovation.
The firm’s virtual model attracts top talent globally and offers clients cost savings through reduced hourly rates.
“Our model allows us to have folks who would otherwise find themselves working alone,” Martin explains, highlighting the firm’s unique value proposition.
Expanding Horizons
Looking ahead, Martin envisions further growth for Foundation Law Group. Plans include adding more partners and expanding practice areas such as bank and debt finance.
Martin believes in the power of collaboration and continuous improvement, ensuring that the firm remains a leader in providing exceptional legal services.
Personal Insights and Philosophy
Armen Martin’s success is deeply rooted in his belief in innovation, adaptability, and client-centric service. His ability to foresee industry trends and adapt to changing circumstances has not only defined his career but also shaped the success of Foundation Law Group.
Martin’s journey from pioneering virtual law practice to becoming a celebrated leader in the legal field exemplifies his unwavering commitment to excellence and visionary approach to modern legal practice.
To stay connected with Armen Martin and follow his journey, you can find him on LinkedIn at www.linkedin.com/in/armenmartin or their website at www.foundationlaw.com.
