LEGAL ISSUES RELATING TO EMERGING INNOVATIVE TECHNOLOGY

LEGAL ISSUES RELATING TO EMERGING INNOVATIVE TECHNOLOGY

There is significant cutting edge technology permeating the marketplace over the past few years and it will continue you to do so for the foreseeable future.

Anyone who doesn’t think we are in the midst of a technological revolution is kidding themselves.

Everywhere we turn, technology is changing the way we do business.

The law and the legal issues arising from this emerging innovative technology is more important than ever.

Business and organisations need specialised advice as to understanding the interface between the technology and the law.

The legal implications of the technology are pervasive. There is no doubt about it. We currently are experiencing the effects of innovative technology on society in ways that the law never envisaged.

This means business need to engage lawyers that understand the technology, the issues arising from it and the legal implications that emerge from this so that proper advice can be provided to inform decision making regarding whether or not and to what extent to implement such technology.

LEGAL ISSUES RELATING TO EMERGING INNOVATIVE TECHNOLOGY

Cryptocurrency, Distributed Ledger Technology, Blockchain and Smart Contracts are all modern innovative technology buzzwords but what do they really mean?

It is important to have lawyers that understand the technology and the legal issues that arise from these new concepts and technological advances. 

LEGAL ISSUES RELATING TO EMERGING INNOVATIVE TECHNOLOGY

The law relating to this new technology is developing and being interpreted in several ways in view of the opportunities, nature and challenges posed by them; For example,

  1. there is a need to understand what current law applies to the new technology and the need to adapt such existing laws as required by it.
  2. there is a need to enact new laws for circumstances that have not been yet considered when new technology dictates circumstances not yet contemplated.
  3. the issue of what jurisdiction is the matter determined in gives rises given that decentralisation is challenging the where more than ever.
  4. dispute resolution and enforcement in light of the above is compounded in complexity even more than it already is.
  5. the identities of parties are not easily discernible in a decentralised world adding to the degree of difficulty when things go wrong as above.
  6. the issue of how to deal with transactions when things don’t go as planned is more important than ever.

We are lawyers that understand the new technology, that have undertaken courses that mean we understand its workings; the legal issues arising from its use and are aware of the the implications for business trying to implement such.

Our commercial law experience is such that we can give practical advice in most circumstances that deal with the issues that are being contemplated.

Call us on 9528 0235 to discuss your emerging innovative technology project.

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