The digital industry is a lucrative one with ongoing and evolving demands as it combines multiple areas of law such as artificial intelligence, electronic money services, privacy law and GDPR, corporate and commercial, employment as well as IP law.
A niche sub-industry in which we have particular expertise, is the e-sports industry. In this respect, we have aligned our practice with the digital advances and we accommodate in an efficient and timely manner the needs of our clients. We are both aware of the particularities of this industry and we possess the necessary experience in providing business-focused legal advice.
First things first, traditional sports are no longer the main source of entertainment, as digital platforms and e-sports have taken the lead. The main difference between these two, other than the obvious digital engagement in the case of e-sports, is the gameplay itself both in the traditional and metaphoric sense as the digital industry is ever-evolving keeping in this way the user constantly engaged.
The emerging influence of e-culture has led to a shift from traditional sports to e-sports. Whilst e-sports were at first synonymous with adolescent entertainment nowadays has progressed to one of the most vibrant and profitable entertainment industries worldwide.
Impact of COVID-19
COVID-19 had a great impact upon user engagement with e-sports as more and more users choose e-sports as an alternative to traditional sports since the pandemic caused abrupt pause to worldwide sports events. The outbreak has accelerated what was already a developing industry as user demand for e-sports have been vastly increased worldwide.
Arrival of 5G
The impending arrival of 5G to Cyprus will give an additional "push" to the domination of digitalisation enhancing in this way the mobile virtual capabilities and business engagement.
We have been tracking, adjusting and embracing the developments of the digital industry providing to our clients, value-orientated services and efficient solutions, fine-tuning our spectrum of services.
- Review of the business model from a regulatory perspective;
- Provide advice in regards to establishing the most optimum corporate and tax group structure;
- Provide advice on safeguarding the Intellectual Property of our clients both on European and International level.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.