TMT annual report
Companies ’ growing use of ‘ big data ’ is opportunity for lawyers
TMT lawyers will have a major role to play helping clients ensure they are complying with the new European Data Protection Regulation
One of the biggest new trends in the technology sector will be companies leveraging the value of ‘ big data ’, according to Jordi Saldaña , senior associate at Roca Junyent in Barcelona .
“ Data is beginning to play a central role in business and it is already one of the most valuable assets available to companies ,” says Saldaña . “ The interconnectivity of all devices , alongside the information we provide daily , generates a large amount of valuable data , which becomes extremely valuable once crossed-referenced and made anonymous .”
Big data refers to large sets of data that can be analysed to reveal patterns of human behaviour , and one of its major advantages , says Saldaña , is that it enables companies to use it to make money without having to seek the consent of the data subject . “ It means companies can offer products and services that are carefully tailored to customers ’ needs , specifically in terms of their spending habits ,” he explains .
As a result , Saldaña thinks harnessing big data will have a significant impact on public services and governments , “ since such data may be used for security purposes , the evolution of smart cities , wearables or in e-science development ”. In the immediate future , Saldaña predicts that technology , media and telecommunications ( TMT ) lawyers will have a big role to play in helping clients ensure they are complying with data protection regulations and meeting the requirements of the new European Data Protection Regulation [ law 2016 / 679 , which will come into force in 2018 ]. However , due to the increase in the use of big data , in the long-term Saldaña envisages significant opportunities for lawyers to provide compliance and regulatory advice that is tailored to their client ’ s specific business model . “ Lawyers will be able to assess companies based on what they can and cannot do with data in order to obtain the highest yields from said data , within legal parameters .”
Jordi Saldaña
Hosting Web Summit shows confidence in Portuguese tech sector
Technology , media and telecommunications ( TMT ) lawyers in Portugal are gearing up for the arrival of over 50,000 technology industry representatives in November , when the Web Summit comes to Lisbon . The annual event , which was previously hosted by Dublin , has been dubbed the ‘ Davos for geeks ’. The fact that it will be based in Portugal for the next three years is seen by many as evidence of the country ’ s growing importance to Europe ’ s technology sector . For Portuguese TMT lawyers it is another cause for growing confidence in the country ’ s burgeoning tech industry .
“ It is a great opportunity for Portugal and Lisbon is increasingly seen as a good place for start-ups ,” says Ricardo Henriques , a TMT partner at law firm pbbr . He believes a number of factors are making Portugal an increasingly attractive place to do business . “ There are some specific actions behind the increase in activity , such as the Lisbon Micro- Entrepreneurship programme , which is focused on helping to develop business plans and advising on how best to obtain funding but more than that , it ’ s the general momentum , and the fact that there are many people saying the location is good because of the infrastructure , the weather and the people ,” Henriques says . “ The incentives from the Portuguese government and other agencies that brought the Web Summit should hopefully continue to attract many others in the coming years .”
Meanwhile , Henriques says lawyers are receiving a significant amount of instructions related to data protection due to the rollout of the European Union ’ s General Data Protection Regulation . He adds that many companies are uncertain about how the new rules will impact on their business . “ There is a lot of work in data protection , due to the new regulations that will come into force in 2018 ,” says Henriques .
Ricardo Henriques
www . iberianlawyer . com September / October 2016 • IBERIAN LAWYER • 47