Digital transformationDigital transformation and Information Technology (IT) have become the buzzwords across all areas of business.
But what do those words mean for your business?
Digitalisation is not any more meant just the virtual identity and setting-up web pages. The development of Information Technology leads to simplified processes and contribute to improved services.
All features of your digitalised and IT services must be defined with your general terms and other company acts to ensure a transparent relationship with your customers, clients, governmental institutions as well as other stakeholders on the respective market. Doing so, you are managing the expectations, with rights and duties and legal liability risks.
The creation of suitable legal frame of business starts in your company. This is your and our challenge and a great opportunity.
Development of business modelsState and international legal systems make a significant part of contemporary entrepreneurship environment.
However, most parts of innovative ventures remain unrecognised or even out of the focus of the law regulating commercial activities.
For creators of innovative ventures, it becomes difficult to fit their ideas and actions within existing legal regulation.
The risk of acting at the limits or on the edge of the legal frame or even out of it is most probably.
Gaps in legal regulation make an opportunity for the creation of entrepreneurial self-regulation which is more desirable behaviour.
The entrepreneurs are challenged to set-up their own terms and procedures of innovative venture models, creating in such way a separate regulatory frame which is an alternative to the state-made legal system.
Autonomous regulation achieves business transparency and clearly defines your services content. Furthermore, you may control your clients’ and customers’ expectations. Finally, the legal liability risk management is implemented.
The activity of the creation of own regulatory environment, therefore, is not preserved just for already established and big businesses and corporation.
Commercial contractsNational and international law provide the legal framework for doing business, while the business partners should regulate independently the characteristics of their specific relations. The basic legal instrument for this is a contract.
Contracts play an important role in the mutual understanding of the contracting parties as well as in their transparent business dealings with third parties. Contracts can also serve as a means of resolving possible disputes, both outside and before the courts.
The content of a commercial contract is defined by the partners; the role of legal profession is to assist the partners in assessment of compliance of their business solutions with the legal framework.
Commercial Companies LawCommercial companies are social systems that are realised through complex decision-making processes. The actions of a company are performed by its bodies (organs). Therefore, the proper design of decision-making bodies (and governing positions) as well as procedures, is important for the successful operation of any company. In an increasingly complex business environment, there is a continuing need to adapt the organisational structure of company to changing circumstances.
Legal Risk ManagementRisk management is often tied to possible financial losses. However, every entrepreneur also faces legal risks, consisting in exposure to liability for damage or misdemeanor penalties if the business does not comply with the legal system or significantly violates that system. Legal risk management is furthermore important for preserving one’s business advantages and rights.
Specialized legal supportIn addition to the general legal framework of business, special and specialized regulations apply to certain economic activities. An individual approach to the client means getting acquainted with the specifics of the given activity and interpreting the application of special regulations.