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Commercial Awareness Discussion
Commercial Awareness 2023/24 Thread
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<blockquote data-quote="justkeepswimming" data-source="post: 149382" data-attributes="member: 25536"><p>This could impact law firms in various ways.</p><p></p><p>Firstly, this demonstrates another big tech crackdown. With regulators putting more obligations on big tech and becoming more active in enforcement, firms with big tech clients would need advice on how to comply with obligations, pre-empting future obligations, and disputing claims against government agencies or regulators. Tech firms are facing a lot of heat from new obligations such as the DMA, law firms can assist in helping companies understand, dispute or prepare for their obligations. </p><p></p><p>Secondly, one of the reasons why the common charging port policy came into force was for sustainability. Achieving net zero by 2050 is still the aim, law firms will be advising firms on how to remain focused on their targets, avoiding greenwashing claims etc. </p><p></p><p>Thirdly, geopolitics. The China/US trade wars are heating up. Law firms may be advising clients in deciding where to open up their next factories/warehouses or buildings/offices etc. to keep these considerations in mind. They may be advising US firms out of China, or finding a viable alternative country for production e.g. Vietnam or India. They may be advising the company with stronger operations in China on ways to mitigate the risk of being caught in the crossfire. A business may want to be closing business in one of these areas, law firms could assist in that. The moving of business from one country to another would require a strong international firm.</p></blockquote><p></p>
[QUOTE="justkeepswimming, post: 149382, member: 25536"] This could impact law firms in various ways. Firstly, this demonstrates another big tech crackdown. With regulators putting more obligations on big tech and becoming more active in enforcement, firms with big tech clients would need advice on how to comply with obligations, pre-empting future obligations, and disputing claims against government agencies or regulators. Tech firms are facing a lot of heat from new obligations such as the DMA, law firms can assist in helping companies understand, dispute or prepare for their obligations. Secondly, one of the reasons why the common charging port policy came into force was for sustainability. Achieving net zero by 2050 is still the aim, law firms will be advising firms on how to remain focused on their targets, avoiding greenwashing claims etc. Thirdly, geopolitics. The China/US trade wars are heating up. Law firms may be advising clients in deciding where to open up their next factories/warehouses or buildings/offices etc. to keep these considerations in mind. They may be advising US firms out of China, or finding a viable alternative country for production e.g. Vietnam or India. They may be advising the company with stronger operations in China on ways to mitigate the risk of being caught in the crossfire. A business may want to be closing business in one of these areas, law firms could assist in that. The moving of business from one country to another would require a strong international firm. [/QUOTE]
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