Insight

How Technological Advances Can Help Corporate Law

Dieter Gericke and Benjamin Leisinger discuss how being aware of technological advances helps them provide corporate financial advice.

An Interview With Homburger
Best Lawyers

Best Lawyers

February 10, 2020 08:00 AM

This interview was conducted as part of the 2020 Edition of The Best Lawyers in Switzerland “Law Firm of the Year” award recognitions. Our partner Handelsblatt, also published these awards on June 27, 2019, online and in print in their June 2019 edition.

For Homburger—Switzerland’s 2020 “Law Firm of the Year” honoree in Corporate Law—staying on top of technological advances and providing corporate financial advice have positioned them well in a complex and evolving global economy. Dieter Gericke and Benjamin Leisinger joined Phillip Greer, CEO of Best Lawyers, to discuss what sets them apart.

Can you discuss a little more about the securities regulations filled? Cryptocurrencies are an asset class that is facing some dispute about how they should be treated. How do you think they should be classified?

Benjamin Leisinger: That very much depends. Financial markets' supervisory authority was one of the first regulators worldwide to try to categorize groups of assets. Assets tokens, security tokens, and some of them are nothing at all. When we talk about security regulation from a Swiss perspective, it would only be assets and asset tokens. You can basically issue equity or a debt instrument that instead of being securitized in the traditional form, which is issued in crypto form.

What Switzerland has also done—and there is draft legislation outstanding—the effect is not yet exactly known, but Switzerland will interview distributive security where you as the issuer in your articles of association for example, or in the terms of the instrument can, instead of referring to certificated security. So with individually certificated, or what we already have uncertificated entry security, you can elect to have and a token-based issuance where then the blockchain that you use serves as your security. Switzerland is trying to be on the forefront of these developments and regulate on a technology-neutral basis.

Cybersecurity is increasingly becoming a focus as hackers pose greater threats. What are the types of advice you provide and how well prepared do you think most corporations are for cyber threats?

Dieter Gericke: Let me start with the second part of the question. It depends on the industry. There are industries that have heavily relied on intranet and digitalization for many years, like the whole financial industry. They are very aware of the issues and are quite well prepared. Not only now but have been well prepared dating back 10 years, so I would say for them this has become daily life. One example, when we as a law firm advised them, we had to conform with certain security standards in order to make sure that if we had to look at their data, that it wouldn't be at risk in our servers.

That's for the banks and financial services and some other industries. For the brick and mortar industry, it's relatively new, or they didn't realize until the first cases came out. They started to realize that many of them had probably been systematically had the technology and others stolen through cyber theft. I would say two years ago is when they really became very sensitive about this, and they started to heavily invest in cybersecurity.

What we see though is that the focus is initially and primarily on software and hardware. What leaders started to realize was the people created risks by sharing passwords, by not logging out properly, and all these kinds of things. What’s popped up in the last 12 months or so in many companies is to make sure that the human factor wouldn't stand in the way of an otherwise state-of-the-art security. Obviously, we are not cybersecurity experts. We cannot tell them which programs they should use. However, we have a team of lawyers headed by David Rosenthal who is the leading technology lawyer in Switzerland.

We advise them on how to implement difficult things, how to have top-tier cybersecurity, and at the same time, use the data to operate your business. I mean you cannot shut it down completely, so there's always protection. That's where our main advice is. We have a big white-collar internal investigations team headed by Flavio Romerio who is investigating cybersecurity incidents and criminal actions that occurred in big companies.

Is protectionism and trade war turmoil causing any notable headaches for your cross border and international clients?

DG: I mean it certainly causes headaches for our bank clients and for all our industrial clients who typically have a lot of business with China but also with the U.S. We as Homburger are most directly affected in the China-Swiss bond business. We used to have a lot of investments and acquisitions coming from China into Switzerland until about 2017. Then it stopped essentially because of protectionism in the West but even more so because of regulations that China imposed on their companies. Those restricted their foreign companies from doing foreign transactions either for currency exchange reasons or because the industries were not seen as an appropriate industry to invest in.

Some Chinese investors divested for the last two years. In some instances, we advised connections with investments of Chinese companies here in Switzerland, and one or two years later we had to advise on the divestment again because they were either forced to get out or had to get out for other reasons again. That's probably the most visible for us. Other than that, in Switzerland, we have no foreign direct investment regulations, but we are indirectly affected.

This interview has been edited for length and clarity.

Related Articles

A Studied Neutrality


by Best Lawyers

Marcel Meinhardt discusses a new interpretation in competition law, new challenges as technology advances more and more, and other topics.

An Interview With Lenz & Staehelin

From Russia, With Law


by Best Lawyers

The bite of U.S. sanctions aside, Cleary Gottlieb partner Yulia Solomakhina sees great promise for commerce and the law as Russia increasingly embraces markets and technology.

An Interview With Cleary Gottlieb

Protect Your Intellectual Property From Patent Trolls


by Best Lawyers

Michael Ritscher discusses how he advises clients to better protect their trade secrets.

An Interview With Meyerlustenberger Lachenal

Merging Business and Responsibility: Gilbert + Tobin


by Best Lawyers

Attorneys Costas Condoleon and Sam Nickless from the Australian firm Gilbert + Tobin discuss the firm's 2020 award, how Australia’s Corporate Law practice is preparing for the world’s transforming economic landscape, and the international community’s demands of its businesses.

Gilbert + Tobin 2020 LFOTY Interview

"Lawyer of the Year"


Headshot of the D.C. Lawyer of the Year Honoree

Adam J. August

Corporate Law

Washington, D.C., VA

2024

IN PARTNERSHIP

Beyond Business: The Personal Touch in M&A Transactions


by Justin Smulison

The stakes are always high in a business transaction because real people are often embarking on a once-in-a-lifetime event. Tiffany & Bosco M&A/Business Solutions Practice Group co-chairs Jim O’Sullivan and May Lu discuss their approach to helping business leaders make life-changing decisions and how professional partnerships strengthen their results.

Headshot of male lawyer in dark suit and red tie, and headshot of female lawyer in dark suit and gla

Announcing the 2024 Best Lawyers in Switzerland


by Best Lawyers

The results highlight the top lawyers and firms in Switzerland, including the 14th edition of The Best Lawyers in Switzerland™ and the 2024 “Law Firm of the Year” recipients.

Bridge over water with skyline of town in Switzerland and blue sky in background

Announcing The Best Lawyers in Switzerland™ 2023


by Best Lawyers

The results include an elite field of top lawyers and firms from Switzerland.

Red flag with white cross

Protecting High-level Executives With the Apex Doctrine


by Sara Collin

The Apex Doctrine, developed to shield high-level executives from inappropriate depositions, is a beneficial asset to lawyers and clients, at least in the states where it’s been adopted.

Apex Doctrine Protects Executives

Announcing the 2022 Best Lawyers: The Corporate Law and Commercial Litigation Issue


by Best Lawyers

The first edition of Best Lawyers: The Corporate Law and Commercial Litigation Issues features thought leadership articles from attorneys around the nation, as well as listings in more than 70 practice areas.

Corporate and Commercial Issue

Will Recent Boeing Settlements Create Tailwinds In Corporate Law?


by Justin Smulison

Prominent litigation against Boeing is setting a precedent of accountability, professionalism and commitment among company boards as well as ushering ESG further into the courtroom to help monitor and prevent safety issues.

Recent Boeing Settlements and Corporate Law

Announcing the 2022 Best Lawyers™ in Switzerland


by Best Lawyers

The results include an elite field of top lawyers and firms.

Announcing the 2022 Best Lawyers™ in Switzerl

Too Good to Fail


by Best Lawyers

Sandro Abegglen discusses new regulations after financial crises, corruption, and more.

An Interview With Niederer Kraft Frey

Property Protectors


by Best Lawyers

Georg Schönherr and Thomas Adocker discuss the theft of trade secrets, patent infringement, and strategies to combat fake goods.

An Interview With Schwarz Schönherr Rechtsanw

Insuring the Future


by Best Lawyers

Thomas Heitzer discusses how new technology advancements are impacting the insurance realm.

An Interview With Noerr

How Corporate Law in France Is Navigating the Trade Wars


by Best Lawyers

Bertrand Cardi and Cyril Bonan discuss M&A, protectionism, and the trade wars' impact in France.

An Interview With Darrois Villey Maillot Broc

Trending Articles

Announcing the 2023 The Best Lawyers in America Honorees


by Best Lawyers

Only the top 5.3% of all practicing lawyers in the U.S. were selected by their peers for inclusion in the 29th edition of The Best Lawyers in America®.

Gold strings and dots connecting to form US map

Announcing the 2022 Best Lawyers® in the United States


by Best Lawyers

The results include an elite field of top lawyers listed in the 28th Edition of The Best Lawyers in America® and in the 2nd Edition of Best Lawyers: Ones to Watch in America for 2022.

2022 Best Lawyers Listings for United States

2021 Best Lawyers: The Global Issue


by Best Lawyers

The 2021 Global Issue features top legal talent from the most recent editions of Best Lawyers and Best Lawyers: Ones to Watch worldwide.

2021 Best Lawyers: The Global Issue

The U.S. Best Lawyers Voting Season Is Open


by Best Lawyers

The voting season for the 31st edition of The Best Lawyers in America® and the 5th edition of Best Lawyers: Ones to Watch® in America is officially underway, and we are offering some helpful advice to this year’s voters.

Golden figures of people standing on blue surface connected by white lines

How To Find A Pro Bono Lawyer


by Best Lawyers

Best Lawyers dives into the vital role pro bono lawyers play in ensuring access to justice for all and the transformative impact they have on communities.

Hands joined around a table with phone, paper, pen and glasses

What the Courts Say About Recording in the Classroom


by Christina Henagen Peer and Peter Zawadski

Students and parents are increasingly asking to use audio devices to record what's being said in the classroom. But is it legal? A recent ruling offer gives the answer to a question confusing parents and administrators alike.

Is It Legal for Students to Record Teachers?

How Palworld Is Testing the Limits of Nintendo’s Legal Power


by Gregory Sirico

Many are calling the new game Palworld “Pokémon GO with guns,” noting the games striking similarities. Experts speculate how Nintendo could take legal action.

Animated figures with guns stand on top of creatures

The Best Lawyers in Australia™ 2024 Launch


by Best Lawyers

Best Lawyers is excited to announce The Best Lawyers in Australia™ for 2023, including the top lawyers and law firms from Australia.

Australian Parliament beside water at sunset

Best Lawyers: Ones to Watch in America for 2023


by Best Lawyers

The third edition of Best Lawyers: Ones to Watch in America™ highlights the legal talent of lawyers who have been in practice less than 10 years.

Three arrows made of lines and dots on blue background

Inflation Escalation


by Ashley S. Wagner

Inflation and rising costs are at the forefront of everyone’s mind as we enter 2023. The current volatile market makes it more important than ever to understand the rent escalation clauses in current and future commercial lease agreements.

Suited figure in front of rising market and inflated balloon

A Celebration of Excellence: The Best Lawyers in Canada 2024 Awards


by Best Lawyers

As we embark on the 18th edition of The Best Lawyers in Canada™, we are excited to highlight excellence and top legal talent across the country.

Abstract image of red and white Canada flag in triangles

8 Different Types of Criminal Defenses in Law


by Best Lawyers

Learn about the different types of criminal defenses available in law, including innocence, self-defense, insanity and more. Protect your rights today.

Silver handcuffs laying on finger printed papers

Wage and Overtime Laws for Truck Drivers


by Greg Mansell

For truck drivers nationwide, underpayment and overtime violations are just the beginning of a long list of problems. Below we explore the wages you are entitled to but may not be receiving.

Truck Driver Wage and Overtime Laws in the US

The Upcycle Conundrum


by Karen Kreider Gaunt

Laudable or litigious? What you need to know about potential copyright and trademark infringement when repurposing products.

Repurposed Products and Copyright Infringemen

Choosing a Title Company: What a Seller Should Expect


by Roy D. Oppenheim

When it comes to choosing a title company, how much power exactly does a seller have?

Choosing the Title Company As Seller

The 2024 Best Lawyers in Spain™


by Best Lawyers

Best Lawyers is honored to announce the 16th edition of The Best Lawyers in Spain™ and the third edition of Best Lawyers: Ones to Watch in Spain™ for 2024.

Tall buildings and rushing traffic against clouds and sun in sky