Seum, a law firm specializing in startups, hosted a mock consultation competition for law students to experience practical startup investment negotiations. This initiative comes as the demand for legal advice in the growing AI startup sector increases, sparking interest among aspiring legal professionals in the startup legal field.
On May 13, Seum announced it conducted the "2026 Night Where Startups Meet Law - Legal Battle Field" for students from Seoul National University’s Startup Law Society. The event took place at the Woochan Law Building at Seoul National University, attracting over 100 participants, including students from other law schools.
The competition was structured around a hypothetical AI startup, with students engaging in negotiations at various stages of investment acquisition. They assumed the role of legal advisors for the startup, negotiating with different types of investors, including angel investors, venture capitalists, private equity firms, and strategic investors from large corporations. Practicing lawyers took on the role of investors.
The competition comprised four rounds, covering the startup growth process from the Seed stage to Pre-Series A, Series A, and Pre-IPO. Lawyers from Seum served as mentors for about a month, guiding student teams in contract structuring and negotiation strategies.
Attorney Moon Han-kyu, who oversaw the event, noted, "Students found it particularly challenging to identify 'compromise points' during the actual negotiation process." He emphasized that beyond constructing legal arguments, practical skills in reaching realistic agreements between startups and investors were crucial.
Recent changes in the startup market were also reflected in the event's theme. Seum explained, "There has been a noticeable increase in legal inquiries related to AI during the startup consultation process." Consequently, this year's event was centered around investment negotiations for AI startups.
Interest among law students has reportedly increased compared to previous years. Attorney Moon remarked, "Attendance has grown compared to last year, and discussions with students reveal a heightened interest in the startup legal field."
The event featured Jung Ho-seok, the representative attorney of Seum, as the head judge, with support from the Startup Division of the Korean Corporate Counsel Association (KICA) and the Young Entrepreneurs Network Prism Mentorship Club.
* This article has been translated by AI.
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