Bitmovin, the leader in cloud-based video streaming infrastructure, enables media and entertainment companies to play, encode, and analyze video at scale in the highest quality across all devices.

First, can you please give us an idea of the sort of work your team has done recently (cases, transactions, projects, anything like that)? 

Recently, our legal team has been involved in a diverse range of activities, showcasing our comprehensive approach to legal challenges and opportunities. In the realm of intellectual property, we have actively defended the company against NPEs, so-called patent trolls. Notably, we have successfully challenged patents held by NPEs and consulted several companies on strategies against NPEs, including conducting prior art research in the video technology area.

IP protection has been a significant focus. Our extensive patent filing, particularly in the US market, aims to safeguard our innovative edge and ensure our technological advancements remain protected.

On the transactional front, we have assisted with a financing round, enabling the company to maintain its growth trajectory.

A key aspect of our role has been enabling business growth by facilitating sales to large enterprise customers with complex legal landscapes and intricate contracts, and at the same time, protecting the company from major risks associated with such agreements. We have streamlined the sales process by implementing standardised legal frameworks, making it easier to navigate these challenging agreements and accelerate deal closures.

Furthermore, our involvement in corporate governance has been extensive. We have advised on corporate restructuring efforts aimed at optimizing operational efficiency and introduced additional legal tech tools to support sales efficiency and enable quick contract closing.

How does your legal strategy change during periods of instability or uncertainty?

During periods of instability or uncertainty, our legal strategy becomes notably more agile and adaptive. We prioritise the ability to quickly adjust our strategies in response to the rapidly changing circumstances that characterise such periods. This agility is essential for effectively addressing emerging risks and capitalizing on new opportunities as they arise.

Our legal strategy is also increasingly aligned with the broader business objectives of the company. We focus on providing actionable legal advice that is closely integrated with current market conditions and forecasts. This business-focused approach ensures that our legal strategies support the overall resilience and strategic direction of the company.

In addition, we place greater emphasis on exit readiness during uncertain times. This involves prioritising activities that enhance the company’s attractiveness for potential acquisitions or initial public offerings (IPOs). We strengthen our due diligence processes and documentation to ensure that we are well-prepared for any potential exit scenarios, thereby maximising value for our stakeholders.

Proactive risk management becomes even more critical during these periods. We implement enhanced risk assessment frameworks to identify and mitigate potential legal and regulatory threats. Continuous scenario planning is conducted to prepare for various possible future states, ensuring that we are ready to navigate any challenges that may arise.

Overall, our legal strategy during periods of instability or uncertainty is characterized by agility, a strong business focus, increased exit readiness, and proactive risk management. This comprehensive approach enables us to effectively support the company through challenging times while positioning us for future success.

Do you make use of any ‘legal tech’ products, and if so, for which areas of your job do you find it most useful? 

Yes, we have progressively integrated legal tech tools across various facets of our work, significantly enhancing our efficiency. At Bitmovin, where our legal department is a one-person team, these tools have become indispensable in managing our workload.

Our CPQ tool has streamlined and automated our quoting process, reducing the need for legal intervention and decreasing the number of sales contracts requiring negotiation. This has been a game-changer in optimising our sales cycle.

The CLM was our first legal tech tool, and it remains a cornerstone of our operations. Before implementing the CLM, we struggled with slow contract processing, causing enterprise sales to stagnate at the contract stage. Closing sales contracts often took weeks or even months, negatively impacting our bottom line. We questioned the logic of hiring more people for laborious manual tasks. Instead, we introduced automated processes. Our CLM supports 15 different workflows, including sales, post-sale contract modifications, NDAs, employment contracts, reseller agreements, and documentation for employee incentives related to option grants. We currently evaluate the option to introduce the AI feature offered by the CLM vendor to further increase legal process efficiency.

Our cap table and equity management tool has simplified how we handle equity distribution and management. It offers a clear view of our cap table, makes equity transactions straightforward, and keeps accurate records of stock options, grants, and vesting schedules. This tool has made managing equity easier and more transparent for our team and investors.

The clickthrough product has also improved our operations by allowing us to manage all online terms and schedules independently. We can update content without needing front-end team involvement, and we maintain an auditable record of every acceptance of our terms, including the specific version accepted by each customer. This capability enhances both efficiency and compliance.

Legal technology has thus proven essential in managing Bitmovin’s legal needs, driving our growth, and allowing us to efficiently serve globally recognized brands as our customers.