If tax policy were changed such that biotech NOLs could be traded (sold) to profitable companies as tax shields it would allow these high risk startups to reap the benefits of these NOLs while accessing scarce capital.

FORBES: Billion Dollar Policy Ideas for Supporting Biotech Innovation

Some clients assume that merely placing tax records in the hands of tax lawyers instead of accountants automatically shields them.

FORBES: Court Holds IRS Can Get Key Tax Records Even Held by Your Lawyer

Shields, former vice president with Facebook, is confident that the lack of stamp duty tax will be a boon to entrepreneurs in the technology space.

FORBES: UK Eliminates AIM Tax -- Could Help Tech Entrepreneurs