DLA Piper Launches Proptech Practice
DLA Piper started a modern “proptech” practice which combines new technologies and the real property and construction sector. The company believes that when property and technology are united, they will bring a large business area with plenty of challenges and legal issues.
According to the company’s representative, the sphere of proptech is very natural for their company and it takes roots in the work for clients from the real property sector and tech companies. Commercial properties (and not only) are managed with the help of new tech which is their standard already. Usage of digital tools, such as identification of entrance at the door using a smartphone app, is becoming a norm for people living in luxury buildings. Technology allows managing energy consumption in constructions which leads to savings for tenants and it will have a positive impact on the environment. Users of office premises have plenty of amenities to use, for instance, car-sharing or bikes. All of them can be ordered via mobile apps. Finally, many big clients get solutions based on AI and algorithms which makes it easier for them to manage datasets, for example, dealing with a large number of lease contracts.
New technologies are becoming a part of many industries which did not seem to be willing to accept this type of investments. Also, the DLA Pipers’ representative noted that the whole tendency brings non-standard topics for lawyers too. These are license agreements, protection of intellectual property, protection of personal data and more. Some of cases require uncommon legal solutions, for example, those involving new business concepts and ideas. This is a real challenge.