Hi, I'm having a hard time with the Bird & Bird application questions.
I have posted them below, any advice would be greatly appreciated
Based on your research, what do you understand to be the biggest opportunity for one of the sectors in which we specialise? (150 words)
Recent changes to China’s financial regulations present an opportunity for Bird & Bird’s Fintech department. The Chinese government recently enacted several rules which are designed to speed up the process through which international investors apply for access to Chinese markets. For example, Bird & Bird client, Mastercard, after several unsuccessful attempts, recently won approval from the People’s Bank of China to set up a bank card clearing institution.
This is particularly important to fintech as these new rules are in combination with China’s recent anti-trust regulations which have broken up the dominant fintech monopolies in China, therefore creating a level regulatory playing field.
Bird & Bird is already established in China through its cooperation agreement with Allbright Law Offices, and Lawjay Partners. Because of this, the firm is able to offer inbound and outbound investors leading advice on the regulations governing fintech in China.
What will be the greatest innovation to influence the firm in the next 5 years and why? (150 words)
5G is estimated to add $6tn to the global economy by 2030. This is particularly relevant to the intellectual property market because as of November 2019 there were 87,752 5G patent declarations
This opens up opportunity for Bird & Bird, as long-standing clients Nokia and Ericsson make up 26.5% of all 5G patents. The latter recently announcing they will ‘do whatever it takes to win 5G’. This expansion of 5G will inevitably lead to the processing of patents and potential disputes. I am basing this view on the level of 4G litigation, for example Nokia v Daimler. Bird & Bird has a track record of excellence when representing telecommunication clients. For example, recently the firm successfully represented Nokia in a patents dispute against Lenovo. As such, I am certain that the firm will be retained by clients as they continue to invest in 5G technology.
I have posted them below, any advice would be greatly appreciated
Based on your research, what do you understand to be the biggest opportunity for one of the sectors in which we specialise? (150 words)
Recent changes to China’s financial regulations present an opportunity for Bird & Bird’s Fintech department. The Chinese government recently enacted several rules which are designed to speed up the process through which international investors apply for access to Chinese markets. For example, Bird & Bird client, Mastercard, after several unsuccessful attempts, recently won approval from the People’s Bank of China to set up a bank card clearing institution.
This is particularly important to fintech as these new rules are in combination with China’s recent anti-trust regulations which have broken up the dominant fintech monopolies in China, therefore creating a level regulatory playing field.
Bird & Bird is already established in China through its cooperation agreement with Allbright Law Offices, and Lawjay Partners. Because of this, the firm is able to offer inbound and outbound investors leading advice on the regulations governing fintech in China.
What will be the greatest innovation to influence the firm in the next 5 years and why? (150 words)
5G is estimated to add $6tn to the global economy by 2030. This is particularly relevant to the intellectual property market because as of November 2019 there were 87,752 5G patent declarations
This opens up opportunity for Bird & Bird, as long-standing clients Nokia and Ericsson make up 26.5% of all 5G patents. The latter recently announcing they will ‘do whatever it takes to win 5G’. This expansion of 5G will inevitably lead to the processing of patents and potential disputes. I am basing this view on the level of 4G litigation, for example Nokia v Daimler. Bird & Bird has a track record of excellence when representing telecommunication clients. For example, recently the firm successfully represented Nokia in a patents dispute against Lenovo. As such, I am certain that the firm will be retained by clients as they continue to invest in 5G technology.
