Legal Industry Sees New Opportunities Arise with Emerging FinTech Industry

Legal experts are optimistic about the new career pathways that FinTech, or the financial technology industry, is paving for junior lawyers.

From mobile banking, to virtual reality technology, to even digitized currencies like bitcoin, the field is offloading an array of complex questions onto the legal industry.

In a conference held in London, some topFinTech and legal experts shared insights on the bright future of junior lawyers in the increasingly popular field.

According to LegalCheek.com, the broad conclusion of the conference is that new legal opportunities will arrive from developments in theFinTech industry for the next generation of corporate lawyers.

The regulatory structure of the financial world is growing as new technologies begin to take a more prominent role in the daily activities of businesses across the country. As new legal framework forms alongside the rise of new technologies,FinTech companies gain the necessary confidence to continue innovating.

Instead of hindering business, the legal world organizes it, guiding it through avenues that will provide structure and confidence for developing industries. For example, developing technologies such as Artificial Intelligence and Virtual Reality are fairly unexplored via legal outlets. Part of the reason is due to the infancy of such technologies. However, once these technologies reach commercial platforms and mainstream popularity, regulations will need to be in place. This legal framework can range from protecting intellectual property, regulating business practices, and even managing copyrights.

With the advent of drones, an array of new complex legal issues continues to rise. As individuals, firms, and governments test their boundaries with drones, limits will be put into place – limits on whether drones are allowed to fly over urban downtown areas, near airports, and even by public forums have already been causing controversy.

Inconsistencies between federal and local laws will surely bring about an array of legal battles between individuals and governments. Surely, more lawyers who understand FinTech will be needed to meet the future high demands of this unchartered territory.

At the moment, there is a general shortage of lawyers who understand both corporate finance and technology laws. The field is currently booming, and will inevitably explode in the coming years once many of these technologies are introduced into the mainstream. Victoria Birch of Norton Rose Fullbright stressed the importance of a formal education in the subject when she asserted that junior lawyers must be prepared to “speak the same language” as clients, and must therefore understand the field better than anyone else. Some experts are even calling for a cross-mixing of law and computer science in the academic levels. Either way, the demands for smart, tech savvy lawyers will only rise as we reach a new age of technological innovation.

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A New Take on the Alphabet

alphabet-structure By this point, you’ve probably read about Google’s dramatic announcement that it would be merging with a new parent company called Alphabet, Inc. And yet many are still confused as to what this actually means. Some ask, “why would Google change its name,” or “what made Google change its structure so abruptly?” In a disorganized age of information overload, it can be difficult to find the answers you’re looking for. Here are a few basic answers to common questions about Alphabet, Inc.

Alphabet, Inc. is a holding (parent) company. Within this parent company will sit Google and Google’s subsidiaries, such as maps, ads, and YouTube. Alphabet, Inc. will not directly make or sell any products; so, it really does function like one large umbrella under which Google’s subsidiaries are housed. Larry Page, one of Google, Inc.’s co-founders will serve as the Alphabet, Inc. CEO and Sergey Brin, Google, Inc.’s other co-founder, will serve as president. Sundar Pichai will become the CEO of Google, Inc.

So of course, many are asking why Google would make such a drastic change. The main reason lies in Google’s acquisition of multiple smaller companies like Deja, Outride, Kaltix, ZipDash, and the list goes one. Moreover, the merger allows Google better ways allocate resources to some of their larger projects under search, Android, and Google Auto. Think with Google is an entire digital innovation lab.

Fortunately, if you currently own Google, Inc. shares, you can continue to trade stock under the GOOG and GOOGL ticker symbols on the NASDAQ. After the merge is complete and finalized sometime next year, your current stocks will be rebranded as Alphabet stock, retaining value and price history. Although a bit complex, the Alphabet umbrella company will contain Calico, Google x, Fiber, Google Ventures, Google Capital, Nest, and simply Google.

As Google continues to expand, we can only expect more structural and branding changes along the way. While it may be difficult to understand at times, at least there’s always something interesting to look out for.