Black businesses in America will continue to thrive thanks to this powerhouse partnership.
Yesterday, Baker Botts L.L.P. — a leading international tech, energy and life sciences law firm — announced a $10 million strategic collaboration with Official Black Wall Street to provide free legal services and support to the organization’s member businesses over the next three years, Black Enterprise reports.
“Over the past several months, we have had the opportunity to conduct a series of listening and learning sessions across our offices and with our colleagues,” said Baker Botts Managing Partner John Martin, in a statement. “We must acknowledge the pervasive racial inequality in our society, take ownership of it, and take action to contribute something enduring to solve the problem.”
Baker Botts recognizes the financial burdens that come with embarking on an entrepreneurial journey — especially for minorities — and are making an effort to alleviate those expensive costs for Black business owners.
“This strategic collaboration is one small step in that direction,” Martin said. “Providing equitable access to legal services is a necessary part of ensuring that Black-owned businesses thrive.”
Under the guidance of Baker Botts partner Terence Rozier-Byrd, Baker Botts will work alongside Official Black Wall Street to help identify Black businesses in need of support.
“We are excited to work with Baker Botts and their extensive network of talented attorneys,” said Founder and CEO of Official Black Wall Street, Mandy Bowman, in a statement. “Black entrepreneurs often lack the exposure and resources needed to grow a business. Familiarizing Black-owned businesses with these services will benefit them and empower the Black community through economics and ownership.”
Additionally, they’ll offer those free legal services to support Black entrepreneurship in a larger capacity through corporate, intellectual property, labor & employment, and related services, a news release reports.
In addition to offering legal support for Black businesses, the new partnership will also provide support to Official Black Wall Street’s app — one of the largest digital platforms geared toward Black businesses — which aids consumers in finding, reviewing, and supporting Black-owned businesses, a press release states.
For more information on Baker Botts and Official Black Wall Street’s partnership, click here.