Moguls of the World: Nicole Shanahan, Rockstar Legal Technology Founder Who Is Reshaping the Patent System

Credit: Gnossem

The stunningly gorgeous Nicole Shanahan is a force to be reckoned with when it comes to being an entrepreneur and attorney. As the founder and CEO of ClearAccessIP, which she impressively started while in law school, the company is an integrated marketplace that connects patent managers and portfolios, assists lawyers in building clients' portfolios, manages licensing deals, and helps patent holders monetize and manage their assets.

In addition to being a Stanford CodeX Fellow, she received her J.D. from Santa Clara University and holds a B.A. in Economics and Asian Studies from the University of Puget Sound. She has been featured in ABA Law Journal for her tremendous work in legal technology, as well as Gnossem.

We predict this is only the beginning for Nicole, and that she is well on her way to changing the face of the patent industry. 

Full Name: Nicole Shanahan           

Occupation: Lawyer, Stanford CodeX Fellow, CEO and Founder of ClearAccessIP

Hometown: Palo Alto, CA

What inspired you to create the company ClearAccessIP?

ClearAccessIP was a hypothetical idea that developed over a period of about 4 years as I worked for several law firms and then later a licensing company. The more time I spent around patent data, the more I realized the value in aggregating it and creating standard processes of analysis around the patented technologies. While in law school I participated in research of the patent system and worked with a professor to identify key weaknesses in both patent law and the transactional marketplace for patents. I finally dug into creating the company while in law school, after my research led me to take a stance on where the future of this industry is headed (or should head), and then some luck pulling together an excellent technical team.

Had you always had an interest in wanting to improve the patent system?

I’ve always been attracted to the concept that you can own an idea, and that ideas can lead to people coming together to build something, and that something can potentially change the course of human history. I feel that it’s important that lawyers don’t just “practice law” but actually serve as guardians of progress, and improving the patent system is just one small piece of this large puzzle.

Favorite part of being an entrepreneur and legal professional?

Becoming an entrepreneur out of law school is a relatively rare path. Juggling the demands of keeping a company running while studying for the Bar Exam can be a tricky balance, but I think it’s totally worth doing if you feel passionate about the possibility to being both a lawyer and an entrepreneur, especially a legal technology founder. My favorite part of this combination is that it’s new and exciting, and the legal technology community is breaking new ground everyday. As a Stanford CodeX fellow I’ve had the opportunity to continue to build my company, meet other legal tech founders in this space, and be a part of a fantastic academic community that is charting the future of legal tech and the law.

Where do you see yourself in 5 years?

When I was younger, I used to spend a lot of time thinking about 5-year plans, but quite frankly, none of mine turned out so I’ve stopped doing them. Part of it, is that my understanding of what is and isn’t possible changes overtime, and another part of it is that having some degree of flexibility opens up new opportunities. I do know however, that in 5 years, I see myself doing what I love, exploring new ideas, building, and contributing. That’s about as specific as I can get.

What is the greatest lesson you’ve learned in life so far?

You can be both very ambitious and very compassionate. Don't let anyone make you think otherwise.

Hobbies outside of work?

I do a lot of yoga, paddle boarding, snowboarding, swimming, running, cooking, and meditation. My goals for the next year include getting comfortable on a kite board, and doing acroyoga (acrobatic yoga).

Most inspired by?

I’m really inspired by the resilience of the natural world: animals, plant life, the environment…such beauty and hidden complexity.

If you could meet 3 people from history?

Coco Chanel because she was a bastion of creativity, spunk, and style while being a business powerhouse.

Ayn Rand for her ability to be both a fiction writer and political philosopher. Whether or not you agree with her perspective, you can’t deny she was incredible at getting her opinions out into the world.

Alan Turing so he can teach me about conducing a Turing Test. I think we would be best friends.

Favorite time of day?

The moment right before sunset when the day transitions into night.

Personal motto?

Nothing ventured, nothing gained. (Borrowed from Richard Branson)

Funniest dating story?

He took me to his local rec center to show off his basketball skills. Within the first 10 minutes of the game he got knocked in the eye pretty bad, so I spent the rest of the date putting cold meat on his face and spoon-feeding him chocolate pudding. We ended up dating for almost 4 years after that, and one of my nicknames for him was “Boo-Boo King of America”.

Your best date?

A weekend of skydiving activities following the passage of the California Bar Exam. Most thrilling weekend I’ve had!

Most romantic thing you’ve ever done for someone?

In a present buying challenge at comic-con (we each had 10 minutes to find a gift for the other person) I found a special edition Jerry Garcia toy buried among an endless array of Marvel character toys. The mini plastic Jerry Garcia played unreleased rifts. My boyfriend at the time was a diehard Grateful Dead fan, and he was stunned into silence when I gave him the gift.

Current favorite song?

Sweet Disposition by The Temper Trap

Follow me on:

LinkedIn

https://www.linkedin.com/pub/nicole-shanahan/18/31b/858

Credit: Gnossem