The Lawyer European Awards 2022 | We’ve won The Best Innovative Technology Initiative award
The Lawyer European Awards are a celebration of legal excellence, one of the most significant awards that a lawyer, law firm, project or initiative can receive. To merely be nominated is an honour, and this year our firm received three nominations, all in the categories which are the most prominent from our perspective: Managing Partner of the Year, The Best ESG Initiative and The Best Innovative Technology Initiative. It was in the latter that we won the top prize, beating extremely strong international competitors to take 1st place. We have thus confirmed that we are number 1 in Poland when it comes to legal projects in the Metaverse.
We are number 1 in the Metaverse
The Best Innovative Technology Initiative award was handed to our firm for shaping the legal and social environment around the Metaverse, for being a pioneer and a Thought Leader, for taking an active role in educating, and for helping our clients realize their full potential in this new and important market.
“The most innovative technology initiative showcases how successfully firms across the continent are harnessing technology to enhance their clients service offerings. Kochański & Partners has demonstrated true thought leadership and innovation, and they’re leading the way in developing the law of the Metaverse in Poland” – said the representatives of The Lawyer at the awards gala in London.
The Metaverse is a global giga-trend
The Metaverse develops AR/VR technologies, combining them with other technological mega-trends such as AI (artificial intelligence), blockchain, the Internet of Things, edge computing and cloud computing. It would therefore not be an exaggeration to call the Metaverse a giga-trend that blends all the currently leading technologies into a coherent, virtual whole.
A whole, which has the task of building the most advanced and ambitious digital user-experience (UX) we can possibly imagine, where the boundaries between the virtual and the real become blurred.
Innovative thinking and fostering our clients’ needs for a presence in the Metaverse
The Metaverse and the cryptoasset market in Poland are currently largely unregulated, but this does not mean that they operate outside of the law. The industry is growing very rapidly worldwide, so defining the right legal framework for the issuance and trading of cryptoassets is of fundamental importance for effective business and investment in this sector.
The Lawyer award demonstrates that our knowledge and practical know-how go far beyond the traditional approach of law firms. For our clients, we are not only a legal partner but also a business and technology expert.
“We have experience in executing and supporting the most complex and strategic technology transactions and intellectual property transfers. We are present where in-depth knowledge of clients’ business and needs, the opportunities offered by technology and the Polish and international legal framework, is the key to success” – says Piotr Kochański, Managing Partner.
What our work around the Metaverse means for our clients
Knowing our clients’ business inside and out, we understand the Metaverse has the potential to provide significant new opportunities, and although this whole industry is at an early stage, we know it is now critical for businesses to place themselves firmly in this new area, otherwise they may risk losing ground to competitors.
The functional combination of reality and the virtual world provided by the Metaverse allows us to generate countless new business opportunities, in almost every industry and can be applied not only for commercial, but also for social purposes. A virtual cinema with friends, a virtual museum. A concert in the Metaverse with a live auction of a guitar.
The Metaverse industry is estimated to grow steadily over the 2030 horizon, with its value already being counted in trillions of USD.
Many of our clients are slowly becoming aware of the scale of this opportunity and understanding that now it is the moment to enter into this new business reality – for growth, development and globalization of services. All of them know, as well as the market does, that we are the right advisor in the right market place.
“Because we are working very actively to make these technologies understandable to clients, develop their business and guarantee the highest security. And to make Polish companies and technology start-ups globally recognisable, strong brands” – emphasises Piotr Kochański.
A pioneer in the Polish Metaverse market and a thought leader not afraid to challenge the status quo
In the first complex report on the Metaverse in Poland (a compilation of the work of nine practices areas) we asked the most pressing questions such as: “What does the Metaverse really mean for business?”, “What legal changes will the development of the Metaverse bring?”, and “Who can succeed in this new reality?”, and we provided broad, substantive answers.
These questions are crucial for the future of business and the development of this new collective virtual space created from a combination of physical and digital reality. We also provided a legal perspective on a variety of areas surrounding the Metaverse, including: property rights and web 3.0, advertising, gaming, entertainment, trademarks, AI, data, NFTs, crypto-assets, the MiCA Regulation, deepfake scenarios and antitrust law.
“This award from The Lawyer demonstrates that we have the right vision and take the right actions. This is a recognition for our being a thought leader, our active involvement in shaping the legal environment, for taking the lead and for all the initiatives and projects we carry out either with our clients or with them in mind” – summed up Piotr Kochański.
In fact, we have been speakers at more than 30 events and conferences, and authored dozens of commentaries, articles and publications this year alone.
Let’s talk about change
A major reason our clients already see us as a thought leader is that we are instrumental in creating and shaping the legal frameworks within which our clients operate.
We are an active part in working groups, including within the Polish Bank Association, the largest industry organization of banks in Poland.
Working as a legal counsel, we are creating the legal framework for technological transformation, such as PolishCloud 2.0, a standard for implementation of public and hybrid cloud computing services.
Being aware that Polish lawmakers are still at a very early stage of analysing the effects of transactions in virtual currencies, that Polish law is being outstripped by the pace of reality and the tax administration are attempting to bridge this legislative gap, we have prepared another cross-cutting report, this time on the taxation of cryptocurrencies and NFTs and the tax challenges in the Metaverse.
In the 2nd extensive report, we present a number of legislative proposals for the development of the taxation of digital assets and an analysis of EU regulations and solutions adopted in other countries, which, in our opinion, may help the Polish legislator to better understand this technology and encourage a rational direction for the taxation of cryptocurrencies and NFTs.
Our goal was to initiate a broad discussion on these topics among market participants and to be an active moderator in this discussion.
An award not only for technology
In addition to the award in The Best Innovative Technology Initiative category, we were shortlisted for The Lawyer European Awards 2022 in the Best ESG Initiative and Managing Partner of the Year categories.
The Best ESG Initiative – for supporting Ukraine, including humanitarian help, for establishing the Ukrainian Desk, providing assistance to Ukrainian companies seeking support in the reality of war, and conducting educational and cultural actions, including for the KALYNA Polish-Ukrainian-Canadian Scholarship Foundation.
And Piotr Kochański, for the Managing Partner of the Year category for his visionary approach to management, consistently pursuing a strategy to strengthen and develop our law firm – including the successful enlargement of the number of equity partners, involvement in CSR activities, and continuous merging of law and technology, including for the creation of Iraaport – our own IT system for law firm management and the implementation of cutting edge technology and highest security standards.
The Best Innovative Technology Initiative award demonstrates that we are becoming the go-to firm in Poland for all aspects of the Metaverse. And we are ready for further success.
Find out more about the Metaverse Report Kochański & Partners
Find out more about the Taxation of Cryptocurrencies, NFTs and Challenges in the Metaverse report.
Source The Lawyer