One of the easier aspects for transformation of corporate legal departments and which has demonstrated both costs and efficiency benefits can be highlighted through your organisations sourcing strategy. How do you as an organisation, make and buy legal services? Have you identified areas that should specifically be in-sourced or out-sourced? Is your organisation considering using alternative service providers and technology, which services are often considerably cheaper than the traditional law firms are, and rely on building economies of scale in ‘high volume, low value’ legal tasks to deliver value. Has your organisation conducted any legal spend analytics, helping you to identify the real value you are receiving from your service providers?
No discussion on the future of corporate legal services delivery would be complete without the current buzzword “technology” being included. Technology can assist corporate legal departments to reduce the costs associated with routine requirements, increasing quality and consistency, managing the department’s workloads and workflows, managing contract and compliance requirements and overall assisting with the management of the organisation’s risks. This does not mean that technology will replace human lawyers, but it will support and assist in the delivery of effective legal services. In addition, the decision around technology should only be made in the context of a full analysis of the target operating model as technology is seldom the “silver bullet” solution to any problem.
The best use cases for legal technology include areas of your organisation such as knowledge and document management, contract lifecycle management and document review, abstraction and automation tools. All of these areas provide a wealth of data. Technology will further facilitate the organisations ability to access and leverage data that would again assist in process improvement and overall risk management. What risks or losses is your organisation exposed to because they just do not have access to data? Which could provide insights and solutions?
No corporate legal department transformation could be complete without considering your most important resources, your people. Are you including roles such as legal operations, legal project management, legal procurement and legal technology? All of these skills are becoming indispensable in the transformed corporate legal department, aimed at delivering better value to all stakeholders. Just don’t forget to consider how you are going to manage change, and obtain buy-in from lawyers, who, are traditionally conservative and resistant to change, to meet the challenges posed by legal department transformation.
Financial law is the most dynamically developing area of the legal orders in all the states throughout the world. It is also a set of the least stable legal norms. Financial law is a branch of law, which is not codified, i.e. not included in a single code, as it is rather based on incorporation of numerous legal norms. All these factors are very problematic for both legal science, and legal practice and didactics.
We wil help your organization to formulate the following conclusions:
- Financial law should be divided into a basic part and a special part, • introduction of the basic part of financial law should be a treatise on finances, financial relationships, financial activities, financial administration and financial science, • furthermore, the basic part of financial law should contain a part dealing with the concept and position of financial law in the legal order, principles and fundamentals of financial law, object, subject and content of financial law, the system of financial law, relationship of financial law to the other branches of law, international, sources of financial law, financial law relationships, control and supervision in the area of financial law and the consequences of a breach of financial law,
- the special part of financial law is further divided into a fiscal and a non-fiscal part, • part of the fiscal part of financial law is undoubtedly budgetary law (in the narrow sense) and tax law (in the broad sense),
it need to be clarified if the fiscal part of financial law includes grant law, law on expenditures of social security, public law part of public procurement law or accounting (or balance) law, • the non-fiscal part of financial law includes monetary law, foreign exchange law and financial market law; we can discuss about integration of foreign exchange law into monetary law, • the non-fiscal part of financial law should also include a public law part of banking law and insurance law.
The hypothesis that should have been proved or disproved is the statement that the system of Financial Law and Financial Science evolves dynamically as well as Financial Law and Financial Science develops due to the development of organization. It is a challenge for financial lawyers to modify the system of financial law so that it corresponds to current development of organization and law within the area of finances.
Among the greatest achievements of the United Nations is the development of a body of international law: conventions, treaties and standards. Established for promoting economic and social development. Many of the treaties brought about by the United Nations form the basis of the law that governs relations among nations.
International law, also known as public international law and law of nations is the set of rules, norms, and standards generally accepted in relations between nations. It establishes normative guidelines and a common conceptual framework to guide states across a broad range of domains, including war, diplomacy, trade, and human rights. International law thus provides a means for states to practice more stable, consistent, and organized international relations.
The sources of international law include international custom (general state practice accepted as law), treaties, and general principles of law recognized by most national legal systems. International law may also be reflected in international comity, the practices and customs adopted by states to maintain good relations and mutual recognition.
International law differs from state-based legal systems in that it is primarily—though not exclusively—applicable to countries, rather than to individuals, and operates largely through consent, since there is no universally accepted authority to enforce it upon sovereign states. Consequently, states may choose to not abide by international law, and even to break a treaty. However, such violations, particularly of customary international law and peremptory norms (jus cogens), can be met with coercive action, ranging from military intervention to diplomatic and economic pressure.
The relationship and interaction between a national legal system (municipal law) and international law is complex and variable. National law may become international law when treaties permit national jurisdiction to supranational tribunals such as the European Court of Human Rights or the International Criminal Court. Treaties such as the Geneva Conventions may require national law to conform to treaty provisions. National laws or constitutions may also provide for the implementation or integration of international legal obligations into domestic law.
Our organization can help in the settlement of international disputes by peaceful means, including arbitration and judicial settlement.