Could you share an example of a time when you came up with an innovation that improved the way your legal team works and did not come at a huge cost?

For one of our business lines, the preparation of contracts, even with previously developed templates, was difficult and time-consuming, due to the communication gaps between the different departments involved in the process. After identifying the issue and brainstorming, we developed an automated template that, based on the commercial information inserted by the vendor, automatically configured the subsequent clauses, and generated a title deed to support the fulfilment of the contract. This came at no cost to the company, other than the man hours invested, and reduced the need for legal team intervention to only 20% of the total contract preparation procedure.

What are some of the key developments that have affected your business over the past year?

Bolivia is undergoing an abrupt change in the country’s economic axis. From being a country focused on hydrocarbons for the last 20 years, it is now turning its attention back to agriculture and mining, but this time to lithium, which is generating a new market and a new industry that does not currently have sufficient regulations for its development. On the other hand, the main client of private companies is the state. The political instability of the country has generated a vacuum in the control mechanisms of public entities, which has led to an unsuitable competition environment. This has created a need to change the focus and strategies for healthy and clean competition from our side, and to strengthen our compliance policies and programmes.

How do you think the internal legal role will evolve in the coming years?

The role of an in-house legal team is and will remain prevention. This ranges from avoiding conflicts with clients, competitors, and employees, to implementing a strong compliance policy that avoids fines and sanctions. New technological developments will alleviate routine tasks, which will allow lawyers to focus on the strategic development the company needs to grow and adapt to the market. AI can be a great ally for some legal tasks, but it must be handled responsibly.

Do you use any legal technology products and, if so, for what areas of your work do you find them most useful?

At the current level of development of the market, it is impossible not to use technological tools in all areas of a company, and the legal area is no exception. Technology brings efficiency to most of the tasks we perform, although we mainly use it for the preparation and review of contracts as well as the monitoring and management of legal proceedings.