MATTERS OF INTEREST

Kyle M. Lawrence Guides Company in Getting a New Drone Rental Venture off the Ground

Kyle M. Lawrence, head of the Firm’s Corporate and Securities practice group, assisted a construction firm in launching a commercial and consumer drone rental company to be based in California. Mr. Lawrence’s client renders land surveying services, among other things, for large-scale construction projects and, at times, utilizes drones for the purpose of taking aerial photographs in connection with said projects. The company decided to enter the space as a means of adding another revenue stream. Mr. Lawrence provided counsel to the client in structuring the new entity to serve as the lessor of the drones, preparing its Equipment Lease Agreement and assisting with the development of the client’s new website.

This transaction is part of a growing trend among businesses that seek to utilize drones and other new technologies, but do not have the need to buy such equipment outright.

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