Rules relating to data protection, copyright and electronic signatures, as well as the development of cloud computing and the ‘Internet-Of-Things’ are posing new risks for clients
New data protection rules, new products such as cloud computing, as well as increasing cybersecurity risks have been among the key trends shaping the TMT legal services market, according to Gonzalo F. Gállego, partner at Hogan Lovells in Madrid.
“The first big issue is new rules, including rules on data protection, copyright and electronic signatures, with the second trend being new products, such as cloud computing and the ‘Internet-of-Things’,” Gállego says.
These have led to a third trend, which is new risk, according to Gállego. He adds that cybersecurity is becoming a pretty “hot topic” due to widespread concern among companies, while data protection is another of the most pressing issues facing clients.
“Many companies are starting to think about the future framework for data protection and that is going to shape everything,” Gállego says. “They are implementing legislation that has not even come into force yet.”
With regard to trends in cybersecurity, Gállego highlights media coverage of recent breaches and the need for companies to obtain legal advice associated with the fight against hackers and dealing with any breaches.