Barcelona annual report
Lawyers must have business know-how in order to
properly serve clients
Firms must fully comprehend their clients’ business and strategy in order to offer effective ‘beginning-
to-end’ advice on projects
It is increasingly important that lawyers
have business acumen in order to
properly meet the requirements of
clients, says Alex Llevat, partner at Roca
Junyent in Barcelona. Consequently,
this is a factor that should be considered
when law firms build teams, he adds.
“We [law firms] have to create
teams composed of lawyers who know
business, not just the law, with lawyers
in every field who are able to understand
clients’ business needs,” Llevat says. He
adds that, in this context, law firms have
to understand “all the tools that they are
going to offer the market”.
Llevat argues that a law firm’s task is
not simply to provide legal advice, but
also to fully understand the business
model the client is going to implement,
and then follow through with the
client from beginning to end. “Clients
have higher expectations and expect
their lawyers to be able to have a more
in-depth knowledge of their current
needs – as well as their potential needs
in future – and offer integrated solutions
to those needs through providing
multidisciplinary services,” he says.
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Artificial intelligence
Meanwhile, law firms must also
analyse their use of technology and
evaluate how they can improve their
communications, both externally with
clients and also internally, Llevat
says. He adds that firms must also
be prepared for what Llevat believes
will be the biggest challenge the legal
profession will ever face. “We truly
believe that the application of artificial
intelligence (AI) in the legal market
44 • IBERIAN LAWYER • March / April 2017
will be the next major trend and Barcelona
will not be an exception,” he says. “That’s
why we, along with many other firms, are
currently analysing the impact and potential
applications of AI to our daily professional
activities.”
With regard to the changing demands of
clients, Llevat observes a significant increase
in businesses requesting legal advice
relating to regulatory compliance. “This has
become one of the biggest concerns in recent
times,” he says. Meanwhile, Llevat adds
that, in recent months, there has also been
a rise in demand for legal advice related to
M&A transactions.
“Foreign investors are really interested in
investing in Barcelona,” according to Llevat.
He adds that sectors attracting investors
include tourism, real estate and industry,
as well as technology, which is one of the
sectors for which Barcelona is traditionally
best-known. He adds: “We are optimistic
about the investment that is coming from
abroad into these areas.”
Barcelona offers many benefits in
terms of being an attractive location for
companies’ European headquarters, Llevat
argues. “With a clear focus on fostering
entrepreneurship and creating the most
suitable business environment, Barcelona
continues to attract a large number of
potential investors and companies that
wish to establish their headquarters here,”
he says. However, while both Barcelona
and Madrid offer pretty similar markets
for potential investors, Llevat believes
that the Catalan city is more competitive.
“This is due to a combination of factors,
such as Barcelona’s important rail, port
and airport infrastructure, its multicultural
environment and its constant commitment
to attracting investors, entrepreneurs and
other professionals – especially in new
technological sectors – from all over the
world,” he claims. “Foreign investors are
really interested in investing in Barcelona.”
Traditionally, it has been US, Italian,
French, German and UK companies that
have been the largest investors in Barcelona
and Spain, but Llevat says that there
are new players in the market. “There is
increasing interest from companies in Asia
(especially from China, India and Japan),
Latin America (particularly Mexico, Brazil
and Colombia) and the Middle East.” Llevat
also predicts further foreign interest as
a result of the UK’s decision to leave the
European Union.
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