NEW TECHNOLOGY

New technology represents the most rapidly evolving economic sector, affecting businesses and the economy in general, at the same time as generating new commercial models and concepts, which are not always provided for in legislation. Often, these new concepts do not always fit in exactly with the existing legal institutions, which obliges the entrepreneur to lead the way, and in turn, implies risks of breaching the regulations in force.

On the other hand, creativity governs projects based upon new technologies, and equipping them with a legal framework, which adjusts to the law, requires creative legal formulas which are not always obvious. Also, aspects of relations with investors or partners must be taken care of, without overlooking the protection of intangible assets such as intellectual and industrial property, know-how and business secrets, which are intimately linked to the creation and distinctiveness of the initiatives, these are the assets wherein the added value of the project can usually be found.

Blockchain technology allows the generation of secure validation processes, reliable supply chain management systems, direct, speedy and traceable financial transactions which avoid intermediation; this technology is the basis of new and undiscovered business models. Likewise, intelligent contracts or Smart Contracts may be excellent technological tools for automating and accelerating commercial transactions, although they raise problems of adjustment between technology and the law which must be taken into account when designing and implementing them.