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Vicente Moret explains in an article published by Iberian Lawyer the role of Of Counsel at the present time in law firms

Adaptation and anticipation against uncertainty 

"In an environment as uncertain in all respects as the present one, the ability to adapt is essential. In that sense I believe that an of counsel must be especially active in the sense of understanding said new environment and finding the trends and general lines that the new situation will condition. He or she must provide the added value derived from his or her previous professional experience and use it for an activity of legal foresight within the framework of the firm for which he or she provides services. In this sense, this is especially true in regulatory compliance in the technological and digital sector, where standards are lagging behind the innovation intrinsic to the sector". The speaker is Vicente Moret, Congressional Attorney and of counsel for Cybersecurity at Andersen Tax & Legal. Moret explains that the of counsel must develop legal intelligence work to advise the firm when it comes to seeking new lines of business or modifying existing ones. To do this, he must have a particularly good knowledge of the sector of activity to which his specialisation applies. He must be aware of what is happening daily, and especially in this new context, in which regulation is going to be decisive. "The States and the EU are going to intervene intensively in all sectors of the economy. It is therefore decisive to carry out legal foresight that anticipates the regulatory scenario", he adds.

New business lines: Innovation is a must 

"The ability to connect seemingly unrelated dots is a characteristic that should be essential in the work of an of counsel," Moret adds. "In the digital environment, development is so quick and so free that this ability to reflect and see synergies and common interests is probably one of the points that should make a difference. To do this, we must have a strategic vision and be aware of the possible regulatory, market or other trends that are shaping the present. For this reason, it is necessary to bear in mind what the client demands, and to do so in the most professional way possible, but at the same time making an effort to be sensitive, in the sense of approaching his own reality by collaborating and supporting the defence of his interests. As for the new lines of business, the synergies themselves generate new needs that require specialization”.

“One example is the sector I am dealing with, in which, in view of the evolution of society and the economy, we at Andersen Tax & Legal have made a major effort to expand capacities, as we consider that one of the areas that will be in greatest demand could be legal services relating to cyber security as a need that cannot be put off. In terms of digital regulation, there will be an increase in issues related to digital identity, regulatory compliance obligations in terms of cyber security for operators of essential services and digital service providers, the specific problems arising from online fraud, and the regulatory framework that may be established with respect to artificial intelligence, among many others”.

The full article can be read in Iberian Lawyer

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