THE FUTURE OF THE LEGAL INDUSTRY WITH 1LEGAL.NET: BETWEEN DISRUPTIVE TRENDS AND 'DON'T WORRY, BE HAPPY!'When you navigate in the high-tech modern world and business, Jenny Gancheva, founder of 1Legal.net, is by your side
Vagabond Magazine
We are still amazed by the rapid change that the digital revolution brought into our lives in a matter of years: from socializing to shopping to security. But we often overlook a crucial aspect of this change: the legal frame within which it takes place. Personal data and intellectual property protection are just two of the many legal issues that appear as humanity travels towards an increasingly digital living. In this new reality both companies and individuals can benefit if they have by their side a lawyer with rich practice open to the challenges of tomorrow, such as Jenny Gancheva. The founder of 1Legal.Net , a legal practice exploring among other things the boundaries of law and the digital world, shares more.
How did digital reality change the analogue law world and how can you help us find our way in this new geography?
Law is visibly struggling to grasp the new relations in our technology-dominated everyday life. In the early 2000s Internet law was applied like analogue law, but today this method is obsolete. The globalization globalized law problems. We are not concerned about transborder transactions. We are concerned about AI, IoT and Big Data instead.
However, the most important question law faces today concerns the survival of our species, Homo Sapiens (meaning "wise man"
.Will law deal with the challenges of the digital age when everything inevitably turns to bits of code? Will it supplement the laws of robotics? Will there be a legislature regulating the relations between people and robots and possible complications? Will crime against climate become a thing? How will we deal with the variety or lack of genders in a family law based on two genders? Can EU legislation stop invasion of global corporations on our data and personal preferences?
Finding your place in the pixel-based "brave new world" is hard, particularly for young people, torn between the memories of their analogue childhood and the depression, anxiety and low self-esteem induced by social networks.
Creating 1Legal.Net was my way to help young law talents to find their way in the profession's new reality. I am happy to help any business, startup and entrepreneur to see their business model or legal problem in the context of the digital world.
What opportunities for investment and business growth does digital reality hold and why do we need an experienced traveller like you as a companion in this journey?
2020 was an unusual year. The "new normal" everyone talks about nowadays focuses on outside changes, but it is too early to say how will society and business change.
We can only speculate about the future leading trends. One is certain: millennials will remain the trend-setters both as key consumers and labour force. They shape society after their own image and expectations and require companies to have both clear identity and social responsibility. The transparency provided by the Internet and social media is pushing this trend. On this background, the identity crisis of large technological companies is particularly striking and they will focus their efforts towards finding new ways to win the consumers' hearts and trust.
The technological revolution offered the business incredible competitive advantages in several key directions, like time, space, matter, personalization of products and services, direct contact with the client and elimination of intermediaries, and replacement of expensive human resources with technological solutions.
Technologies and innovations will be the defining factor for business success. Each startup and developing business should have as a partner an experienced traveller in the field of modern law who knows well the business environment.
Change is the only constant today.
What is the most positive change in law that modern technologies brought about?
Modern technologies dragged law out of its rigidity and conservatism and forced us to think outside of the box when solving cases. With the implementation of AI, breaking beyond our planet's boundaries and exploration of space we should be prepared for a true revolution in legislation. Law should compensate its current lag and in the near future the law profession and the law enforcement institutions will remain closely connected to technological advantages.
Which innovations could threaten unprepared individual clients and businesses?
The Internet environment is getting over-regulated. The openness of contemporary economy, innovations and markets pushes the world forward and democratizes technology-based conveniences such as fast communication, modern shopping and payment, travel, entertainment and others.
On the other hand, this openness is a challenge for startups and small companies in the process of implementation of innovative projects. Take intellectual property protection, for example. Before an idea about a promising project leaves the isolation of the laptop and the garage-based discussions of its creators, the IP protection strategy should be assured. Corporations also have serious problems to solve, related to finding the balance between the increasingly strict regulations on data privacy, consumers' rights and content monitoring, and regaining consumers' trust.
What, in your opinion as a visionary in the field, does a good lawyer in 2021 look like and what do they provide to their clients?
The lawyer of today faces huge challenges posed by the dynamically developing environment and high-tech economy. Besides traditional requirements like having an established successful practice, the successful lawyer of 2021 should be fluent in the latest technologies and their applications.
Basic knowledge of tech terminology, even tech professional lingo, is also required. 1Legal.Net offers a number of innovative legal solutions, collaborating with our clients to develop innovative solutions for their legal needs.
We work alongside IT developers to design ways of delivering legal services that create value for our clients. 1Legal.Net designs end-to-end legal solutions for both startups and corporate businesses. Ideas have always been the most valuable capital asset and we can help in protecting it. Technological innovations are by all means the future of all.
Law will not remain outside of this reality.
Published in Vagabond Magazine, here
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