New Perspectives on Assets and Services in the Era of Technology Revolution

D&I Quarterly Q4/2016

Posted on

2 Dec

2016

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Dittmar & Indrenius > Insight > New Perspectives on Assets and Services in the Era of Technology Revolution

Today’s companies are faced with limitless possibilities and massive challenges in developing their businesses to survive in the years to come. Digitalization, cloud services, Internet of Things, social media, inventive mobile solutions and novel applications are driving a myriad of successful and revolutionary businesses in all industry verticals.

To meet the clients’ evolving needs in the unchartered waters of the technology revolution, it is a must-win for legal advisors to embrace technology themselves and develop an in-depth understanding of what the clients are actually going through. The ownership of traditional physical assets such as equipment, facilities and real property are quickly becoming less and less important. Smart use of assets like business data, customer databases, innovations and other intangible property has become the real lifeline of businesses.A wide spectrum of disruptive technologies is challenging not only the traditional business models but also the legitimacy of the established legal and regulatory framework. The new global business models do not always recognize or respect the legal boundaries of the local territories and legislators in different jurisdictions are trying to keep up the pace in this constant change with varying results.

Intangible Assets as Game Changers

On November 1, 2016 we hosted a D&I Seminar on “New Digital Innovations in the Era of Technology Revolution”. We had a full house of corporate legal counsels present from the largest Finnish listed companies, all eager to participate in the discussion with our men in black, the three heads of our uniquely integrated Technology, Data Protection and Intellectual Property practice groups.

Our team on stage brought forward their insights on customer data and data protection aspects, technology-affiliated contracts, trade secrets and IPR issues relating to the new digital business models that end up on the corporate counsels’ desks. In addition, Kai Holkeri of D&I’s Tax & Structuring practice participated through offering analysis on e.g. the choices to be made regarding ideal location of the client’s data assets as a part of a holistic intangible asset portfolio. A solid and well-thought-out corporate structure is an invaluable business asset in itself, while it also protects against costly international tax disputes. Thinking ahead, a successful risk-mitigating opportunity approach requires one to step out of any and all legal silos and look at the matter at hand with a comprehensive, multidisciplinary legal mindset.

“It’s all about our clients’ ideas and our ability to offer holistic solutions withstanding the test of time.” – Jukka Lång

Key Insights presented at the seminar:

1Data has considerable economic value. Plan and structure your organization’s agreements and processes so that you can maximize its value. Make data a part of your plan in corporate restructuring.

2Trust in contracts can be grounded on a reliable third party or on a trusted transparent system. Technology maturity and introduction of new systems should be evaluated carefully.

3Digitalization changes the way agreements are drafted and their structures. Lawyers should be ready for the changes and they should understand how they affect the business environment.

4Prepare yourself for disruption. By investing in the protection, management and defence of your intangible assets you have an advantage in the inevitable changes to your firm’s operational environment.

5Take advantage of the increasing compliance obligations as tools to drive your business goals.

 

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