What are some of the legal challenges that IT companies face in the development and use of emerging technologies in their products?

With rapidly advancing technology, there’s not always clear regulatory guidance, which can be a challenge for legal teams in technology companies; they need advice on topics where there is still legal uncertainty, for example issues such as web3, AI and money laundering.

Communicating overly complex business models and technology applications to regulators, courts, and lawmakers in a way that enables fruitful collaboration and does not lead to ‘bad law’ that is detached from the business reality is another perennial challenge. As are emerging data localisation national laws and strict data transfers requirements, which are not always in line with the way data moves (with no physical borders) and the way technology companies work (globally).

In what ways do you see the in-house legal role evolving in your region over the next few years?

Legal technology will be crucial. Legal operations teams are gradually becoming the norm across organisations and with that come new ways of relaying legal advice. It will be about being legally innovative, nimble and creative. It will be about looking at ways to transform the legal mindset within an organisation, delving deeper into professional relationships and creating a legal presence. Legal technology will become a necessary tool to make all of this happen.

What are the most significant cases and/or transactions that your legal team has recently been involved in?

We worked on a deal which with TripActions, that will see them partner with Stripe’s global payments infrastructure to better serve business travelers around the world.

We also had a key role to play in the expansion of Stripe Terminal to Ireland, France, Germany, the UK, and the Netherlands. As European consumers return to in-person shopping, Terminal extends Stripe’s payments infrastructure to the physical world. Stripe users in 20 countries can now boost conversions and increase revenue by offering Klarna as a payment option to their customers.

As we enter the next decade, what skills will a corporate legal team need to succeed in the modern in-house industry?

Strong ethics and integrity are a must. Expertise with technology is also key, as is a growth mindset in relation to technology and adoption of new tools and solutions. Flexibility and adaptability will be the watchwords of the future GC, and the ability to advise with confidence and be an enabler will be highly sought-after.