WASHINGTON, DC – Paul Hastings LLP, a leading global law firm, announced today that it is launching an interdisciplinary Internet of Things (IoT) practice to help clients navigate the risks and opportunities in the complex and evolving IoT landscape.
The IoT is the growing network of physical “things” embedded with electronics, software, and sensors, enabling them to exchange data with the manufacturer, end-user, and other connected devices. It is estimated that 50 billion devices around the world will be connected to the Internet by 2020, and that IoT commerce will have a total economic impact of up to $11 trillion by 2025.
Recognizing an uptick in IoT-related work and the evolving influence of digitally-enabled technologies on clients’ businesses, a team of Paul Hastings lawyers was organized to more effectively address clients’ needs in this area. “As the IoT brings connectivity to virtually everything, it is changing the way we live, interact, and do business,” said Corporate partner Sherrese Smith. “The rapidly expanding quantities and types of data and the ways in which they are shared create a host of business opportunities and legal challenges —and a significant opportunity for our firm to leverage and focus our existing expertise to help our clients in this critical area.”
Privacy and Cybersecurity practice co-chair Behnam Dayanim, added, “Rather than working with clients on a one-time basis to address a single issue, our goal is to provide counsel from idea inception through each stage of a product’s life cycle, delivering innovative solutions to create and protect value in this revolutionary new area.”
Given the ubiquitous nature of IoT and its anticipated impact across industries, lawyers from a large array of practices are collaborating on this initiative. This includes lawyers from the firm’s Antitrust and Competition, Securities and Capital Markets, Data Centers, Employee Mobility, Finance, Intellectual Property, Litigation, Mergers and Acquisitions, Payment Systems, Privacy and Cybersecurity, Private Equity, Regulatory, Technology, and Trade Secrets practices. Representative clients include tech and internet companies (e.g., Airbnb, eBay, Oculus VR, Zynga), commercial leaders (e.g., GE, Mattel, Samsung), as well as lenders and investors (e.g., Softbank, Goldman Sachs, RBC).
At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.