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Natuzzi

The Art of Business Restructuring

In a global and business context currently characterized by very high variability and uncertainty, the legal department of a group, even more so if multinational and structured, has and will only have the appearance of a partner in support of development strategies, but at the same time it cannot and will never be more identified (“internally” and “externally”) as the guarantor of the compliance and protection provisions that transversally oversee the relationships with the different stakeholders (private and public) becoming in fact protagonist of the group’s strategic choices.

In this difficult and ambitious challenge of balancing interests that are not always aligned, the legal department is called upon to take on delicate responsibilities that can only be adequately safeguarded if combined with a change of perspective of the function, which, from one hand will have to pass from the expansion of knowledge not strictly related to the legal area (IT, economic and fiscal), and, on the other hand, by the adoption of tools capable of improving and accelerating the decision-making process (primarily big data and databases).

Our experience leads us to ascertain that it is only through a “holistic” approach to business, which also allows us to fully grasp the economic and fiscal impacts, especially in the case of operations of an international nature, legal protection will be able to express its maximum support and effectiveness.

The foregoing is adequately reflected in international “Joint Venture” operations but also, for example, in the issues of “Transfer Pricing,” where adequate contracts able to capture the tax impacts of certain clauses can safeguard the Group from significant findings and sanctions by the Tax Authorities of the various States.

The same applies to the ability to interpret and analyse economic data that may be relevant in the structuring of an operation and their balancing towards the brand’s protection as well as the business according to a medium-long term perspective.

The needs of these sensitivities lead and will lead within the Legal Dept. reflections on important changes ranging from the entry of new professional figures (e.g., economists and experts in information technology and technology) to constant updating and adaptation of skills also with regard to the use of tools and data.

Our experience leads us to ascertain that it is only through a “holistic” approach to business, which also allows us to fully grasp the economic and fiscal impacts

From this last aspect, we believe that if, on the one hand, the analysis of the data can allow the lawyer an adequate vision of the economic phenomenon of a specific case, on the other hand, they are in contrast with an idea of immediate imposing acceleration of Artificial Intelligence (i.e., AI) within the Legal Department.

In this sense, our perception is towards an approach that can only be characterized by prudence to avoid any overwhelming, especially in a phase like this (initial) where it is first of all necessary to experiment, verify and then seize any opportunities for facilitation starting from the necessary assumption that (at least hope for a while ...) human intervention will prove to be indispensable.

The articles from these contributors are based on their personal expertise and viewpoints, and do not necessarily reflect the opinions of their employers or affiliated organizations.