Wilson Sonsini Goodrich & Rosati, a prominent U.S. law firm, recently hired Curt Blake, co-founder and former CEO of Spaceflight Inc, a satellite launch and logistics company. The firm aims to strengthen its position in the space industry by establishing a new industry group called “NewSpace,” focused on satellites and commercial spaceflight.
Blake will assume the role of senior counsel at Wilson Sonsini’s Seattle office. In this capacity, he will provide legal advice and support to space clients, encompassing a range of practical and legal needs, including satellite construction and launch logistics.
One of the key objectives of Wilson Sonsini is to assist space startups by offering business consulting expertise. Blake’s extensive experience establishing Spaceflight’s network of launch providers, including industry giants such as SpaceX, Rocket Lab USA Inc, and Roscosmos, the Russian space agency, positions him as a valuable asset to the firm and its clients.
The law firm has already secured clients for its NewSpace industry group, including Astranis Space Technologies, an emerging player in the field that recently launched its first internet-providing satellite.
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The decision to venture into the space industry comes as the firm recognizes the immense potential for growth and revenue. A report by Space Impulse, an analytics company, predicts that the space industry could reach a staggering $1 trillion in revenue by 2040.
Despite a challenging funding environment for U.S. rocket startups, the demand for satellite launches remains strong. As exemplified by Virgin Orbit’s recent bankruptcy, startups in the sector have been taking measures to ensure their survival.
While venture investment in space startups has declined by 50% year-over-year in 2022, amounting to $21.9 billion, according to V.C. firm Space Capital, Blake believes that the space industry has a unique advantage. The ultimate customers for space-related services are often governments, such as those seeking communication or Earth observation data.
Blake emphasizes the enduring demand for space-related data from governments, stating that economic cycles may fluctuate, but the need for such information remains constant.
Wilson Sonsini aims to position itself as a comprehensive legal partner for space industry players. In addition to advising on traditional corporate matters like fundraising and initial public offerings, the firm seeks to address the specific legal and practical challenges faced by its clients. This includes facilitating satellite construction and securing optimal launch opportunities.
With the expertise and industry connections brought by Curt Blake, Wilson Sonsini is confident in its ability to provide valuable legal counsel and consulting services to both established space companies and emerging startups.
As the space industry continues to evolve and expand, Wilson Sonsini’s NewSpace industry group is poised to play a significant role in shaping the legal landscape and supporting the growth of space-oriented businesses. The firm’s focus on practical and legal considerations, coupled with its established reputation in the legal field, positions it as a key player in this rapidly evolving sector.