David Wang

This transcript has been edited for clarity, readability, and flow. Minor adjustments have been made to remove filler words and improve structure while preserving the original meaning and intent of the conversation.

Henry Harrison:
Good morning, David. Nice to see you. Welcome to the show, Entrepreneurs, Business and Finance.

David, you and your firm have been my personal, professional, and corporate counsel now for going on seven years. We met through another guest of the podcast—Alex Vantarakis with The Vant Group—at an appreciation event on a boat here in the Dallas-Fort Worth area.

What I’ve found especially valuable about you and your counsel is your wide range of experience with what I’ll call smaller businesses—although many of those businesses generate millions in revenue. That has really been your specialty.

Why don’t you start by sharing a little about your background and your experience in business and law?

David Wang:
Sure. Thanks for having me on the podcast.

When I graduated from Rice University, I actually started my own business. So my entrepreneurial bent began very early.

A partner and I launched a graphic design business. I had studied biochemistry, so it was a complete departure from my academic background, but I wanted to own a business.

We were part of the first wave of digital design, transitioning from traditional paste-up art to fully digital processes.

That business didn’t go very far—partly because I wasn’t very artistic and partly due to issues with my business partner.

Along the way, my father encouraged me to consider law school. After a few years, I made that move.

When I became a lawyer, I started my own practice immediately. From day one, I worked directly with business owners.

That entrepreneurial background has always helped me understand how clients think and how to approach legal issues in a practical way.

About seven or eight years ago, my clients needed broader legal support—litigation, employment law, intellectual property, and more. That’s when I joined what is now Fouts Jordan, which provides a full-service platform for entrepreneurs.

Henry Harrison:
That’s been very helpful to me. You’ve always provided practical advice and brought in the right resources when needed.

I also think it’s interesting that you were working remotely before it became common. That model creates real cost efficiencies for smaller business owners.

David Wang:
Exactly.

In a traditional law firm, a large portion of what clients pay goes toward overhead—office space, staff, infrastructure.

In a distributed model, I can provide the same expertise without those costs.

I’ve been practicing for 27 years and typically charge between $350 and $450 per hour. Some of my peers at large firms charge close to $1,000 per hour.

Entrepreneurs often need high-level expertise, but they don’t need the overhead of a large firm or the limitations of a very small one. This model gives them the best of both worlds.

Henry Harrison:
One area where that’s been especially helpful is partnerships.

I’ve had multiple partnerships over the years, and I know you spend a lot of time helping clients structure them properly and plan for potential challenges.

David Wang:
That’s right.

When people go into business together, they often start with a simple mindset: “Let’s do this together.”

But I’ve seen enough disputes to know how important it is to address difficult questions upfront:

• What happens if partners stop getting along?

• What if there’s a financial disagreement?

• What if one partner wants out?

• What if someone behaves improperly?

My role is to help clients think through these scenarios and build structures that allow the business to either continue or separate without being destroyed.

That work is often more about counseling than drafting documents.

Henry Harrison:
You also help with real estate transactions, business acquisitions, and sales. Would you talk a little about that?

David Wang:
Sure.

The two largest parts of my practice are real estate and business transactions.

On the real estate side, I help clients buy and sell everything from raw land to large office properties, and then assist with leasing and operations.

On the business side, I help entrepreneurs buy and sell companies.

Buying a business is exciting—it’s someone stepping into ownership. Selling a business is often the culmination of years or decades of work.

I also handle contracts, compensation structures, equity plans—anything that involves structuring and documenting business arrangements.

I think of myself as a deal lawyer.

Henry Harrison:
That’s why I’ve always thought of you as more than just an attorney—more like a counselor.

When people buy or sell businesses, it ties directly into their life goals. That means you really get to know your clients.

David Wang:
That’s very true.

When I first became a lawyer, I didn’t fully appreciate the phrase “attorneys and counselors at law.”

Now I understand that the counseling is the most important part.

Drafting documents is often the easy part. The real work is figuring out:

• What’s fair

• What each party needs

• How conflicts will be handled

• How to structure something that actually works

That requires understanding the client and their goals.

At this point in my career, I definitely see myself more as a counselor than just an attorney.

Henry Harrison:
That’s a great way to put it.

On a personal note, I know you’re a strong family man and involved in your church. You recently lost your father, and I’m very sorry for your loss.

We’ve both gone through similar experiences, and I know those moments shape how we think about life and business.

David Wang:
Yes, and I appreciated being able to talk with you about it. That meant a lot.

Henry Harrison:
Well, I really appreciate you being on the show and sharing your experience.

We may have to invite you back—there’s a lot more we could cover.

Thanks again, David.

David Wang:
You’re very welcome. Anytime. Thank you, Henry.