It has been a tough environment for technology firms in need of some outside investment to grow, so a couple of Baltimore law firms are lending a hand—and potentially landing themselves some successful clients along the way.

Venable LLP and DLA Piper LLP have both added new, relatively low-cost programs and services in recent months helping tech companies plan for and find outside cash. While venture investing is still down, attorneys from both firms said they see demand for the services as the economy recovers.

The right guidance could mean a windfall not only for the companies, but also the law firms, which stand to gain long-term and big-spending clients. Getting the companies on the right track early creates the best chance for that.

“Emerging businesses are always caught in a very difficult place,” said Charles J. Morton, a partner with Venable who co-chairs its business transactions group. “They’re starved for cash but perhaps need the most sophisticated legal services.”

Companies have been especially starved during the recession. Venture firms invested $4.7 billion in the first quarter of this year, up from a more than five-year low of $3.4 billion in the same quarter of 2009. But before the recession, investing was steadily above $7 billion each quarter, according to PricewaterhouseCoopers' MoneyTree survey.

Venable is currently searching for and vetting companies that may be looking for investment. Its program charges a flat fee of $5,000 per month and discounted hourly rates upon graduation. It will include a curriculum of classes as well as individual help navigating legal issues such as intellectual property and ownership matters.

DLA Piper, meanwhile, has offered special help to firms seeking venture capital since about 2005, in a program called Venture Pipeline. But it recently added services that could help market and recruit companies to become clients.

One is called Document Factory, which allows companies to start filling out legal documents necessary for incorporating or preparing to go after outside investment. Another is a valuation database that helps companies figure out how much they’re really worth.

Together they serve as a way to educate early-stage firms on the processes involved in getting an investment, and gets them in the door at the law firm as clients, DLA partner Matthew F. Gorra said. The existing Venture Pipeline program connects companies directly with venture capitalists and allows the two sides to shop around for the other.

DLA Piper’s programs come at no extra cost to companies that are already the law firm’s clients.

Gorra said the benefit to his firm is the possibility of helping turn what is a startup one day into the city’s next major public company or sale.

“At one point, the Advertising.coms and the Under Armours, these are the same companies we’re talking about here,” Gorra said. “At the end of the day, if they’re successful, we have a successful long-term partnership with them.”

Three Dog Logistics of Dundalk, Marlyand, is one of the companies DLA Piper is hoping turns out that way. The company, which handles shipping for the direct-mail industry, is currently going through the process of seeking out venture funding, CEO John Kennedy said. It expects to double its revenue this year from $6 million in 2009, but has visions of growing to $50 million or more.

“With that we need a lot more expertise,” he said. “What DLA has brought to the table is being able to connect us with the right firms and the right people.”

But the programs are not for all startups, Morton said. Venable is currently getting strong interest and looking to choose a batch to begin its program this summer. But for it to be worth its price tag for the firms, they need to be somewhat established. “The more services a business may need, the more likely it’s a good fit,” Morton said.