As a result of digitization, the legal and contractual relationships between organizations, individuals, and governments are altering. As more data is collected, stored, and communicated electronically, new potential for monetization develops, as do new risks and duties, such as data privacy and cybersecurity. Digital transformation needs firms to defend against regulatory penalties and reputation damage quickly.
To keep up with the rapid pace of digital transformation, general counsel must be wary of regulatory fines and reputational loss. The IFM Digital Law team can assist with identifying digital risk areas as well as meeting legal challenges.
Cyber and Data Law
Digital economy is data-driven. Regulatory infractions in cloud computing, IoT, social media, and big data analytics can cause reputation damage and stiff penalties. Privacy compliance is key to business accountability and governance. Unwanted publicity drives firms to facilitate data protection compliance. IFM advisors help with:
→ Big-data-compliant projects
→ Privacy impact analyses
→ Social media usage compliance
→ Cyber-breach management
→ Data security policy/implementation
→ Designing digital privacy
→ Cloud-computing compliance
→ App data security
→ Data transfer frameworks
Digital IP Law
Intellectual property, data, branding, and technology are important for businesses. Businesses must grasp how regulation varies to reach their full potential. International IP/tech issues include:
→ New IP rights from digital transitions
→ IP as a digital business model asset
→ IP-backed asset finance and IP asset security due diligence
→ Keeping trade secrets protected
→ 3D printing patents
→ Taxes in IP allocation
→ Documentation for licensing, joint ventures, and partnerships
→ Intellectual property asset financing, including royalty monetization agreements
→ Due diligence on IP
The Digital Legal Framework
New digital and sharing economy company models collide with taxi, hotel, and banking rules. Digitalization makes human work redundant, raising employment legal difficulties. The IFM Digital Law team can help customers identify risk areas and plan for transformative change by embracing the legal components of regulation in digital transformation both generically and especially to your sector.
→ Financial Services
→ Employment Regulation
→ Localization and retention duties
Digital’s ability to traverse borders is part of its appeal. However, regulations are built on a world with borders and ever-changing data privacy, commerce, transaction, intellectual property, and crypto currency restrictions. A company’s digital platform serves as a bridge to its consumers, and it must verify that it complies with e-commerce rules and regulations and defends its interests when contracting via its digital platform. Because online tax and legal issues are so interconnected, IFM’s integrated law and tax services are crucial.