Digital Innovation

Our Digital Innovation Focus Team is dedicated to navigating companies through the myriad of complexities of digital transformation.

1. Innovation, Data and Cybersecurity

2. Fintech

3. Insurtech

4. Start-ups

 

1. Innovation, Data and Cybersecurity

Whatever your business, you can rest assured that we have all the necessary skills and expertise to support you with all aspects of innovation.

Acquisition, development and protection of digital innovation:

  • agreements for the acquisition and maintenance of technology, and corporate transactions aimed at acquiring new technological platforms
  • reorganisation and renegotiation of software licences and IT agreements to achieve significant cost reductions
  • assistance during software audits conducted by IT suppliers, handling of any disputes, and negotiation of adjustment costs
  • assistance with the choice of tools to protect and exploit intellectual property
  • exploitation of personal and non-personal data based on advanced analyses, profiling and fully automated decision-making and contract types. The automation of business processes and sales models combined with the interconnection of production chains and business ecosystems means that companies must pay special attention to: (a) the protection of personal data and human rights; (b) the attribution of rights over a broader use of data, including non-personal data; and (c) compliance with fair competition on the market. We thus assist you in assessing the lawfulness of datasets and the reasons for data processing, and we help you understand when data must be kept confidential and when it can be shared with clients, suppliers and potential competitors
  • compliance with applicable laws, including antitrust law, to ensure that your company is fully compliant – also when structuring corporate processes and implementing innovative business models that incorporate innovative payment and insurance tools, algorithms or big data
  • compliance with laws on cybersecurity, NIS and State secrecy (when applicable), and assistance in dealing with the authorities if data breaches occur

Tax benefits and business models:

  • analysis of business models and tax-related issues in the digital economy (e.g., web tax)
  • identification of benefits and incentives envisaged by tax incentive packages (e.g., patent box, hyper-amortisation, R&D tax credits, and incentives for innovative start-ups)
  • structuring of investments and calculation of effective taxation based on the relevant business plan
  • support in requesting Formazione 4.0 tax credits (i.e., to incentivise investment in training for employees in enabling technologies)

Organisation of work and new contractual conditions and obligations:

  • organisation of new forms of work that are made possible by technology and that foster competitiveness, such as outsourcing, relocation, flexible workplace arrangements and platform work
  • drafting and implementation of staff retraining plans; assistance with overcoming “traditional” selection criteria and assessing employees’ personal skills and willingness to change
  • assistance with obtaining local, national and EU funding – or sector-specific funding (e.g., in the lending or insurance industries) – for retraining plans
  • drafting of new standard commercial contracts and development of the underlying logic of smart contracts

Interconnection of supply chains and market platforms:

  • assistance with all essential regulatory, contractual and antitrust aspects to ensure: (a) access to new network technologies (such as blockchain and cryptoassets); (b) fair distribution of information and value; and (c) portability of data and information.

 

2. Fintech

Our fintech experts bring together/hail from different areas of law, including:

  • banking and financial regulation
  • corporate law and capital markets
  • IP
  • ICT and data protection
  • employment law
  • tax law
  • administrative law
  • competition law

Our experts thus offer comprehensive assistance on your fintech project, from its legal feasibility study to its complete execution:

  • organisation of efficient, effective and sustainable compliance models for every type of fintech business
  • discussions with the competent authorities about the use of new technologies and new business models
  • assistance with investor relations, also through due diligence investigations
  • establishment and authorisation of new supervised entities, including financial intermediaries, payment institutions and electronic money institutions
  • assistance with the raising of equity or debt, including the execution of shareholders’ agreements or partnerships, and management of the relevant obligations

The core areas of focus are digital payment systems, smart contracts, blockchain technology and related applications, digital lending, crowdfunding and the issuance of debt and equity instruments, big data, algorithms, RegTech, and virtual currencies.

Our experts regularly collaborate with institutions, the government and supervisory authorities on the definition of new sector-specific rules.

 

3. Insurtech

Digital innovation has reached a remarkably advanced stage in the insurance sector. We have kept pace with our own evolution, meaning we know how to:

  • structure data flows and share responsibilities with technology suppliers and technical and business partners – this allows us to create efficient, sustainable compliance models and to allocate the value generated by data through IP rights. And if you are involved in partnerships or joint ventures, you can also rely on us for assistance with antitrust scrutiny, in addition to our assistance with insurance regulations and data protection
  • evaluate data processing methods by examining the IT structure your company uses to store and process data (on-prem software, the cloud, outsourcing, SaaS). We can also help your company adapt the logic underlying automated decision-making processes (artificial intelligence algorithms) and advanced analysis models (for customer segmentation and the development of fee models) to regulatory constraints
  • identify datasets for all purposes, to ensure that your company complies with know-your-customer regulatory obligations and privacy laws against excessive
  • determine when and how data are to be stored

Tax aspects must also be considered if you want to ensure the economic success of your company’s projects:

  • assessment of business models for the digital economy
  • assistance with benefits and incentives envisaged by tax incentive packages (e.g., patent box, hyper-amortisation, and R&D tax credits)
  • structuring of investments

Technology makes an essential contribution, but it is even more crucial that you successfully integrate (and subsequently manage) technology in your company:

  • negotiation of agreements for the acquisition, development and integration of technologies, which we do on the strength of our in-depth knowledge of aspects that are specific to these types of agreements (e.g., preventing technological lock-ins, guaranteeing operational stability and clarifying the allocation of duties between suppliers and the company) – this allows us to find sustainable solutions for all parties. Moreover, if your company wishes to acquire technology through corporate transactions, we can assist you in structuring and executing M&As, outsourcing agreements, transfers of business operations, joint ventures, partnerships, and consortia in a way that best exploits new technologies. In these cases, we can also evaluate any antitrust notification obligations
  • assistance with the reorganisation and renegotiation of software licenses and agreements governing professional IT services. We can contribute to reducing corporate IT costs through due diligence investigations into licence agreements and by renegotiating contracts so that they have more significant value for your company

Digital innovation means that clients, suppliers, partners and market platforms are interconnected:

  • access to new network technologies (e.g., distributed ledger technology, blockchain and cryptocurrencies). Blockchain technology and other network technologies entail new regulatory, contractual and antitrust aspects, which are key to properly regulating access to – and distribution of – information and value. We are experts in structuring consortia based on these new technologies, in full compliance with all applicable laws
  • drafting of new standard agreements and development of the logic underlying smart contracts
  • collaboration with innovative start-ups and development of open innovation software in the insurtech sector

 

4. Start-ups

The start-up phase is essential – by avoiding mistakes in this phase, you are making an investment in your company’s future. Ensuring access to equity and to the development and manufacturing of products is an essential part of what we do:

Structure and management of relations among people:

  • relations among shareholders, corporate governance and compensation and incentive plans for managers
  • structuring new job terms and work relations
  • corporate secretarial services
  • stock options, performance shares, equity co-investment and tax impact

Development and protection of products and services:

  • access, development and integration of technologies
  • support in the choice and use of tools to protect and exploit intellectual property
  • collection, processing and exploitation of data, structuring of the logic underlying algorithms, profiling processes and fully automated decision-making and contract types, in full compliance with antitrust law
  • adaptation to applicable sector-specific (finance, insurance, healthcare, real estate, etc.) regulatory provisions

Access to equity, tax benefits and bureaucracy management:

  • support with raising capital through venture capital, crowdfunding, access to credit and M&A
  • evaluation of requirements to access Italy’s innovative start-up tax regime
  • assistance with other tax incentives (Italy’s “Industry 4.0” tax incentive plan, hyper-amortisation, R&D tax credits) and structuring the relevant investments
  • identification of opportunities to obtain public funding at the national and EU level, and relevant technical legal support

Entry into new markets and interconnection with clients, suppliers and partners:

  • assistance with the international development of business relations
  • assistance with the simplified management of relations with clients and suppliers through advanced legal tools
  • assistance with access to new network technologies (e.g., distributed ledger technology, blockchain and cryptocurrencies)
  • assistance with corporate transactions, including the structuring of joint ventures, consortia and partnerships so as to best exploit new technologies, and assistance with any antitrust notification obligations arising from these transactions

 

Learn about our Focus Teams.

Case Studies

Digital transformation in banking

Our Digital Innovation Focus Team is dedicated to navigating companies through the myriad of complexities of digital transformation. 1. Innovation, Data and Cybersecurity 2. Fintech 3. Insurtech 4. Start-ups   1. Innovation, Data and Cybersecurity Whatever your business, you can rest assur …

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Insights

BonelliErede brings together its digital innovation expertise to create a dedicated focus team

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beLab, innovation according to BonelliErede

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Tommaso Faelli named Lawyer of the Year Patents and Trademarks at the 2015 Legalcommunity - IP & TMT Awards

The 3rd edition of the awards was held in Milan, where our very own Tommaso was crowned Lawyer of the Year – Patents and Trademarks. Our firm is extremely proud of Tommaso’s achievement, especially given that the qualities the judging panel highlighted as their basis for selecting him a …

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