The economic activity of each company has its specificity and nuances: the way of doing business, legal regulation, the status of parties of legal relations, and taxation may differ. It is almost impossible for an entrepreneur to know all the particularities and features of the legal aspect of own business. IT companies are no exception.
The IT business is so specific, that’s why an “ordinary” lawyer is unlikely to be able to provide qualified legal assistance in supporting IT projects
WHAT IS THE SPECIFICITY OF THE LEGAL SUPPORT OF IT COMPANIES?
1. IT business constantly faces various legal issues that concern vastly different branches of law
Starting with the choice of the taxation system for an IT company, formalizing legal relations with counterparties and protecting intellectual property rights, and ending with the preparation of specific IT agreements (NDA, SLA, MLA, SDA, SaaS). Moreover, IT business, like any other economic activity, sooner or later faces the need to optimize and restructure it.
2. IT business is transnational
This kind of business is associated with many jurisdictions that regulate the same or very similar legal relations in completely differently. Therefore, support of IT business requires, in addition to knowledge and experience in IT law, the presence of a wide network of partners in various countries who can provide the necessary services or information in each specific case. VigoLex is proud that its team members over the years of practice have developed excellent business relations with consultants from various countries, who also specialize in supporting IT projects within local jurisdictions.
3. IT business is innovative
New scopes are constantly emerging in the IT business, requiring new legal regulation, so it is very difficult to be aware of all the changes. A lot of effort and constant attention to detail are required.
However, taking into account many years of experience, VigoLex recommends to its regular Clients a monthly subscription service, including a package of standard or specialized services, previously agreed with the Client. As a rule, a standard package of legal services for supporting IT companies includes a certain number of various consultations in IT law (from 5 to 20 depending on the package), preparation or finalizing of several contracts in Ukrainian, Russian, or English, support of transactions, accounting service of IT companies and IT specialists, etc. In any case, a specific list of services included in the subscription service is negotiated individually with each Client.
Statistically, 70% of companies order legal services for outsourcing. But to understand whether a specific company needs subscription services, it is necessary to answer a few simple questions:
Company VigoLex provides approximate rates for the most common services related to subscriber services for IT companies in Ukraine.
- If the number of legal issues is small, does it make sense to have an in-house lawyer at all? If yes, then…
- Does the in-house lawyer handle all issues related to the company’s economic activity? If not, then…
- Does it make sense to hire and pay salaries to several lawyers who understand different branches of law?
In most cases, the answer NO is not profitable! It is much more andvantageous and convenient to contact a law firm that can comprehensively meet all the company’s issues.
During our collaboration with VigoLex all work was done fast and with tremendous quality. It was a pleasure working with them.
Denis Khromov – General Manager EIS Group Ukraine&Belarus