Managing Partner’s Summer Greetings
Dear business partner,
Light has finally displaced the shadow of the pandemic that made life uncertain for citizens, businesses and for whole national economies for 1,5 years. The worries have not yet completely disappeared, but at this very moment there is more light than shadows.
The pandemic also brought new challenges to corporate law. Standard clauses in supply agreements caused surprises in unexpected situations, court proceedings slowed, and telecommuting raised new questions concerning working life.
Some of the creative solutions which were discovered as a response to new challenges shall stay for good. Remote meetings have become the new normal, although encounters between people are always delightful. Arbitration could emerge as an excellent solution to avoid the congestion in courts, and we are hoping that this trend will continue.
The epidemic hit a few industries with a hammer, but luckily many sectors have been doing surprisingly well at the same time. This has been reflected in our office as well. Especially in M&A, we have managed to support our clients at a record high level. It has been pleasant to be involved in those and many other situations with our clients.
More and more new legislation
Pandemic and economic cycles modify our operational environment sometimes more, sometimes less. Instead, the growth in the importance of law seems to be a permanent change. New legislation is created by both the Parliament of Finland and by the European Union.
The upcoming amendments to the Competition Act will get into effect right before midsummer. On the employment law side, among other things, employees’ and directors’ non-competition agreements should be reviewed due to the changes of the law by the autumn at the latest.
Some industries will face an outright wave of legal changes. The mining industry, for example, will soon have to adapt simultaneously to issues such as the new Mining Act, Land Use and Building Act, reform of the Nature Conservation Act and changes to energy taxation.
Claim of responsibility increases obligations
Responsible thinking is also an increasing megatrend which creates more legal obligations. For example, supply agreements are worth going through from the point of the responsibility of the supply chain.
In addition to this, responsible investing is on the rise, and this is particularly reflected in the preference of responsible companies due their good performance.
With a growing team for the benefit of our clients
The increased need for law can be seen as growth of professionals in our office. When we return back to the office life, there will be more of us than there were when we started working remotely. Now after a couple of months in the new role as the managing partner, I bear responsibility for the ongoing development of our expertise.
At the same time, I have been given a new kind of responsibility on my shoulders; maintaining the trust of clients in our 100-year-old office. It is a significant obligation which I can feel even stronger now as the managing partner. To our great delight, more and more clients have shown confidence in us this year.
There are many ways to measure the success of a law firm. Reducing client’s concerns is a key measure of success for us. That does not just mean succeeding as a solver of legal challenges. A major part of our job is risk management which means preventing issues. Our job is to make sure that you too can have a carefree summer.
Wishing you a sunny and refreshing summer!