TMT annual report
to fees, says one partner at a
leading Spanish law firm. “They are
sophisticated and they know how
to get the best out of negotiations
– however, if the matter is
critical to their business they are
prepared to pay whatever it takes.”
Another partner points out that
multinational companies put “big
pressure on fees”. He continues:
“Firms also have to get through
the filter of a panel. However,
SMEs in Spain are prepared to
use more expensive international
law firms as they are able to open
doors for them around the world.”
Law firms are also prepared to
advise TMT start-ups on what is
effectively a pro-bono basis and, in
doing so, “bet on them [the startups] in the medium to long-term.”
Industry expertise is now
a key requirement of clients,
explains one partner based in
the Madrid office of a global
firm. “Clients are looking for a
partner who understands the
issues – in-house counsel very
quickly know if a lawyer doesn’t
know what he is doing,” he
Spain: What are the biggest challenges law firms currently face
in the TMT market?
“Nowadays, most of our clients speak of nothing other than big data, internet
of things, wearables or e-health. Both the lack of enforceable laws that are
adapted to these technologies, as well as the need to keep updated on technical
developments are major challenges when providing support to our clients. In
this regard, we need to be prepared to provide the most appropriate, up-to date
and even sometimes innovative legal assistance.” Susana Rodríguez Ballano,
senior associate, Deloitte Legal
“The advice required by ‘digital’ clients involves advice in several jurisdictions,
so our services are becoming more and more international.” Blanca Escribano,
partner, Olswang
“I think the biggest challenges faced by law firms are adapting to changes such
as new platforms entering the market that are offering common advocacy work
for less and with less effort. We’ll have to adapt our relationships with the
clients, and we cannot forget that unless we have enough means and money, we
[law firms] will all have to focus on one or two areas of expertise.”
Alfredo Gómez-Acebo Dennes, partner, Cremades & Calvo-Sotelo Abogados
“In the area of corporate compliance and big data & data protection – where
the client sometimes shows a lack of awareness of the level of sophistication
and complexity of the legal matters they are facing – an expert lawyer will need
to be able to inform them about these challenges in an accurate and simple
way.” Belén Arribas, partner, Miliners Abogados
“New technologies are volatile and are always well ahead of legislation.
Consequently, lawyers have to know how to interpret emerging issues in order
to adjust them to the law, which is not always easy.” Víctor Altimira, senior
associate, RCD - Rousaud Costas Duran
“Every day the competition in the TMT legal services market is increasing, since
all large law firms and most of the medium-sized ones have created specialised
TMT departments. Attracting clients will depend on the usual factors such as
legal expertise, but other factors such as technological knowledge or the ability
to offer clients a wide network of offices will be decisive.” Joaquín Muñoz,
lawyer, Ontier
44 • IBERIAN LAWYER • September / October 2016
explains. “Consequently, firms
are moving away from practice
groups and towards industry
groups – however, creating such
groups internally is not easy as
compensation systems need to be
adapted to motivate partners to
become part of an industry group
and it can be a challenge to get
people on the same page.” The
partner adds that, in this respect,
the legal arms of the ‘Big Four’
auditors have an advantage in
that they are “already structured
in industry groups”. However,
other lawyers argue that the ‘Big
Four’ do not have it easy. “The
consultancy firms are having a
hard time,” says one. “Clients
want multiple law firms in
addition to auditors.”
Such is client desire for
industry expertise, that even
if a large firm puts together
a multidisciplinary team –
including, for example, corporate
and labour lawyers – if the
te