TMT annual report
“
All regulations will
change and lawyers have to
be imaginative in order to
foresee the outcome.
Pablo González-Espejo
Uría Menéndez
the caveat that the “explosion
of data protection work means
that it is no longer a niche area”.
He continues: “TMT practices
need to concentrate on the more
complex and sophisticated work
where they can offer real value to
clients.”
Another significant opportunity
for TMT lawyers in Portugal
is the fact that a wide range of
sectors are becoming increasingly
reliant on technology. “Sectors
such as agriculture, aviation,
construction, communications,
defence, distribution, energy,
financial services, insurance,
medical devices, health, tourism
and transport face a growing
and undeniable dependence on
technology,” says Magda Cocco,
partner at Vieira de Almeida.
“All this is evidenced by the
increasing importance of e-health,
e-government, e-commerce, smart
cities, surveillance and tracking
technologies in our day-to-day
life.” Cocco adds that, until very
recently, TMT practices in most
law firms where focused on the
“electronic communication, media
and technology sectors”, but
with other sectors experiencing
an invasion of technology, TMT
practices have enlarged their
client base and are now working
with clients from a wide range of
sectors.
The trend for consolidation
in the TMT sector will mean the
major players will increasingly do
more legal work in-house, MLGTS
managing associate Gonçalo
Machado Borges warns. “This
may contribute to downward
pressure on fees or encourage
further in-sourcing of services,”
www.iberianlawyer.com
”
he adds. “The
overall backdrop
is one of stable or
decreasing ‘telco’
market revenues
which poses a
challenge for the
market players
themselves and
for all external
service providers,
legal counsel and
others.”
Francisco Brito e Abreu, partner
at Uría Menéndez-Proença de
Carvalho, expects there to be
more TMT-related transactional
work for lawyers in Portugal.
“The reconfiguration of the
Portuguese TMT market has
generated, in recent years, several
significant transactions, such as
the acquisition of PT Portugal by
Altice and the merger between
Zon and Optimus,” he says.
“This reconfiguration is likely to
continue to evolve, and this may
generate a relevant workload for
law firms.”
Grow or die
According to Maria Leonor
Piconez, a lawyer at Caiado
Guerreiro, the fact that, in the
highly competitive TMT market,
only the strongest and most
innovative companies survive
presents an opportunity for
lawyers. “Small companies
have to grow fast or will lose
their chance – therefore, one
of the important opportunities
lies in assisting these players in
obtaining funding,” she says. “In
the TMT sector, either you grow
or you die.”
The fact that TMT clients want
fast responses from their lawyers
presents a significant challenge
for firms, according to Patrícia
Nunes Borges, senior associate at
F. Castelo Branco & Associados.
“Not only do they [clients] want
quality, but they need answers
by the hour – getting advice on
time could mean getting the deal
through and clients expect to get
their answers 24 hours a day,
seven days per week,” she says.
“As such, the biggest challenge is,
while maintaining the quality of
our work, still being able to turn it
around very quickly, which is not
an easy task.”
With regard to the biggest
trends in the coming year, Vieira de
Almeida partner Margarida Couto
says wireless technologies and
more innovative and sophisticated
handsets will continue to dominate
the telecoms sector, while the use
of satellite technology will become
more prominent. She adds: “The
increasing number of satellite
constellations in orbit will also
assume growing importance in
several sectors, notably in shipping,
aviation and defence.”
Portugal: What are currently
the biggest opportunities
for law firms in the TMT
market?
“With the coming into force of
the new European General Data
Protection Regulation, data
protection became a greater area
of concern for the TMT industry.
Law firms may have an important
role in assisting TMT clients in
adapting their operations to the
new requirements before 25 May
2018, the date when the regulation
comes into force.” Pedro Vilarinho
Pires, head of the TMT and data
protection area in Portugal,
Gómez-Acebo & Pombo
“Besides the more general aspects
of data processing activities and
international data transfers, there
are several other data protection
topics which intertwine with
other areas such as internet of
things, connected cars, big data,
virtual reality and cyber risks.
Many companies are improving
their e-commerce platforms and
investing more in digital media/
advertising, mobile apps and
cloud storage solutions.” Ricardo
Henriques, partner, Pbbr
September / October 2016 • IBERIAN LAWYER • 45