Peter N. Flocos

Peter N. Flocos
  • Adjunct Professor of Law, University of Pennsylvania Carey Law School
  • Lecturer, The Wharton School of the University of Pennsylvania

Contact Information

Research Interests: Research interests include corporate and M&A law, corporate governance, securities law, general commercial and business law, economics and finance, financial markets and the Federal Reserve and Federal Reserve Act.

Links: University of Pennsylvania Carey Law School Faculty Profile Page (Peter N. Flocos), LinkedIn Page (Peter N. Flocos)

Overview

Peter N. Flocos is an Adjunct Professor at the University of Pennsylvania Carey Law School, and a Lecturer at The Wharton School at Penn. He has been teaching courses at Penn Carey Law since 2011, usually teaching an M&A litigation seminar but also teaching the main M&A course from time to time, including most recently in the Spring 2022 semester. Mr. Flocos also teaches a Wharton course, called “Legal and Transactional Aspects of Entrepreneurship,” to undergraduates and MBAs.

Mr. Flocos received his J.D. from the University of Pennsylvania Law School and also received his B.A. and B.S. degrees from Penn (the College of Arts and Sciences and the Wharton School, respectively). In the interim, he obtained a master’s degree from the University of Oxford in modern history and political philosophy.

While at Penn Law (now Penn Carey Law), Mr. Flocos served as Editor-in-Chief of the Law Review, graduated Order of the Coif (top 10% of the class) and was awarded the John M. Olin Prize in Law and Economics. He subsequently was a Law Clerk to the Honorable Roger J. Miner, United States Court of Appeals for the Second Circuit, in New York.

For two decades, Mr. Flocos was a litigation partner in the global law firm of K&L Gates LLP. Located in the firm’s the New York City office, his practice consisted of large and complex business and commercial litigation, with an emphasis on M&A, corporate governance and other shareholder litigation (both direct and derivative), and federal securities litigation. Mr. Flocos also represented corporate and director or officer policyholders in insurance coverage litigation under CGL, property, business interruption, D&O and other types of policies.

In addition, Mr. Flocos has served as an arbitrator in US and London arbitrations.

Prior to joining K&L Gates, Mr. Flocos was an associate at Cravath, Swaine & Moore LLP.

Mr. Flocos decided in 2020 to retire early from large law firm practice in order to take on or expand various other undertakings of interest. At present, he serves as a Trustee/Director of the Center for Financial Stability (CFS) in New York City. CFS is an independent, nonpartisan and nonprofit think tank focusing on financial markets, and their mechanics and inter-linkages, with a view to enhancing market stability and benefitting investors, policy-making officials and the public. CFS, through its experts and Advisory Board, and in conjunction with certain partners such as the Shadow Open Market Committee, generates and delivers top-notch multi-disciplinary research spanning finance, law and regulation, and economics. CFS also sponsors related speaking events.

Mr. Flocos has been taking post-grad classes at Columbia University in NYC and at Penn, and pursuing research and writing interests in economics, finance, law and other areas. He has also continued to practice law as a sole practitioner in exceptional cases.

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Research

Research interests include corporate and M&A law, corporate governance, securities law, general commercial and business law, economics and finance, financial markets and the Federal Reserve and Federal Reserve Act.

Teaching

LGST 2130/8130 – LEGAL AND TRANSACTIONAL ASPECTS OF ENTREPRENEURSHIP

Legal and Transactional Aspects of Entrepreneurship is a practical and intensive course that examines the critical legal and transactional issues confronting start-up companies across all stages of growth (these stages are not entirely well-defined, but they are often referred to as early stage, venture funded and later stage/emerging growth).

The course provides perspective on how entrepreneurs and start-up companies can and should understand and use the law strategically to manage risk, deploy resources and maximize shareholder value. As set forth in more detail below under “Class Schedule and Reading Assignments,” the course will address, among other things, key issues regarding:  (1) the U.S. legal system; (2) contract and tort law, including the basic “business torts” and selected insurance topics; (3) nondisclosure, noncompete and other “restrictive” employment-related agreements; (4) the assessment and choice of the most favorable legal form for your business, including the legal, financial and basic tax advantages and disadvantages of general partnerships, limited partnerships, corporations and limited liability companies (LLCs); (5) raising capital, including pertinent aspects of the federal securities laws and issues commonly raised in venture capital financings; (6) selected employment law topics; (7) intellectual property law, including copyrights, trademarks, trade secrets and patents; and (8) mergers and acquisitions law, including pertinent acquisition structures. IPOs will be addressed to some extent, but will not be emphasized (the reasons for this are discussed in class).

The focus of the course by definition is on entrepreneurs and start-up companies, but many of the concepts covered also have relevance in any type of business or commercial context.

Current Courses

  • LAW9510 - M&a Litigation (flocos)

    See Course Finder.

    LAW9510001

  • LGST2130 - Legal Aspect Of Entrepreneurship

    This practically oriented course examines the critical legal issues confronting start-ups with a focus on innovation and disruption. Cutting edge topics include blockchain, fintech, AI, digital and mobile based issues. Students will learn to use the law to manage risk, deploy resources and maximize value. The course covers the entire lifecycle of a business, including confidentiality, non-competition and invention assignment clauses, intellectual property (IP) including patent, trade secrets, copyrights and trademarks, tax advantages of limited liability companies (LLC) vs. corporations or partnerships, securities law strategy for raising angel financing, convertible debt and venture capital (covering SAFEs and KISSes), independent contractor vs. employee concerns, discrimination laws, merger and acquisition exit plans, as well as restructuring and bankruptcy. Students will emerge from the course with the skills and tools to draft term sheets and contracts, negotiate deals tailored to their business models, as well as mitigate liability via risk-protective policies, insurance and management of litigation.

    LGST2130001 ( Syllabus )

Past Courses

  • LAW9510 - Law Seminar

    See Course Finder.

  • LAW9990 - Independent Study Project

    Independent Study Project

  • LGST2130 - Legal Aspects Entrepreneurship

    This practically oriented course examines the critical legal issues confronting start-ups with a focus on innovation and disruption. Cutting edge topics include blockchain, fintech, AI, digital and mobile based issues. Students will learn to use the law to manage risk, deploy resources and maximize value. The course covers the entire lifecycle of a business, including confidentiality, non-competition and invention assignment clauses, intellectual property (IP) including patent, trade secrets, copyrights and trademarks, tax advantages of limited liability companies (LLC) vs. corporations or partnerships, securities law strategy for raising angel financing, convertible debt and venture capital (covering SAFEs and KISSes), independent contractor vs. employee concerns, discrimination laws, merger and acquisition exit plans, as well as restructuring and bankruptcy. Students will emerge from the course with the skills and tools to draft term sheets and contracts, negotiate deals tailored to their business models, as well as mitigate liability via risk-protective policies, insurance and management of litigation.

  • LGST8130 - Leg Asp Entreprenrshp

    Legal and Transactional Aspects of Entrepreneurship is a practical and intensive course that examines the critical legal and transactional issues confronting start-up and emerging growth companies. Although the context of the course is early stage companies, many of the concepts studied are equally applicable to more mature, established companies. The course provides perspective on how to use the law strategically to manage risk, deploy resources and maximize shareholder value. Topics include the enforceability of confidentiality, non-competition and other restrictive covenants in employment agreements; choice of business form including the legal, financial and tax advantages and disadvantages of general partnerships, limited partnerships, corporations and limited liability companies; tax and securities law; legal aspects of raising capital including structuring venture capital and private equity financing; entrepreneurial acquisition structures, employment law, and intellectual property law including trade secrets, copyrights, patents, and trademarks. Format: Lecture and discussion with coverage of legal cases and materials. Requirements: Class participation, midterm and final exam. Materials: Course pack.

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