General Counsel – LIV Capital, Mexico
1. How has the Covid-19 crisis affected the way you work as a lawyer? What are the key positives and negatives that have emerged out of lockdown?
Since most of the work is now being done remotely, we had to adjust our systems (access to files, security, e-signature codings, etc) and real-time communications. Educate all parties (investors, team members, service providers, authorities, etc.) not to solely rely on original documents and have everything being sent and executed on an electronic format.
Among the key positive aspects, is a more focused and at times, efficient team. The idea that you HAVE to be at the office to get things done has proven to be wrong, there is no need to actually be in the same physical place to efficiently communicate, discuss and resolve most of the cases. As I guess has happened to many people, we have learned that we were complicating a lot our lives and we do not need the many things we thought we did.
On the negative side, working hours have been extended, in my case I have to take calls through my lunch break or late at night. As if people sometimes lose track of time.
2. Will you and your firm/company continue to use flexible and agile working in the future? Will you reduce the size of your physical office space?
Yes, the firm will continue to use home-office and we´ve also planned a reduction of our office space starting on January 2021.
3. How have you employed legal tech during the crisis? What has been successful and what has been lacking?
We have not used legal tech (understood as softwares to customize, manage or create automated documents) due to the nature of our work, it is not something we normally use nor have budget to spend on.
4. How do you see the advancement of legal tech affecting the legal industry in the next 10 years?
It will definitely continue to be a trend, something in which we´ll rely on more and more in order to make our work more efficient but in my view, always as an aid, as something that will help us lawyers in our analysis, research, etc. I can’t see it, as some may say, potentially leading to having AI´s acting and therefore eliminating the use of paralegals/ legal analysts, etc.
5. Has your firm/company changed its remuneration structure during the crisis? Will the firm/company consider using a “Keystone” fee-sharing or hybrid remuneration model in future?
Remuneration structure has not changed but depending on the performance of our portfolio companies and if things continue to complicate, I do foresee that there could be some adjustments for next year.
6. Name one key thing that will be different in the legal profession in 10 years time.
Physical or same place meetings, closings, hearings, etc. might be something of the past. I believe we´ll see more and more sophistication on how to conduct “virtually there” meetings and also practically most of our day to day operations filings, submissions will be 100% online.