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Will lawyers have to be in the metaverse?
[/vc_column_text][us_separator][vc_column_text] Today, the “Metaverse” is becoming known to many as a way to revolutionize the world as we knew it and transform it into a 100% digital world. Through this space, the term PHYGITAL was born, a union between the physical and the digital, where people will be able to work, shop, socialize, and have leisure spaces whenever they want and without limitations. Many brands have the Metaverse in their sights to be part of it, but does this include lawyers? Without a doubt, it is still something new, but in the legal sector there are already several considerations that help define what their participation will be, among which Intellectual Property and Data Protection and Privacy stand out. Let's talk about Intellectual Property. The Metaverse could experience internal creations within this virtual world that its author will want to claim as their own. An example of this is NFTs, which are digital assets and have played a leading role in digital registration because they are collectibles and are sold as unique works of digital art. Of these, to date, design houses, offices, land, and even designer NFT clothing have already been registered. Now, the second potential issue that will gain importance is Data Protection and Privacy. Will the individual within the Metaverse be understood to be the same person who created it in the real world? These are some doubts that need to be defined, but they will undoubtedly create a conflict where a lawyer will be necessary, even to the point of litigation. Another question that arises is whether if the Metaverse wants to be a virtual world identical to the real world, will existing laws have to be adapted to it, or will new laws emerge, 100% for these digital issues. For the moment, this is an issue that still generates more doubts than certainties, but one thing is certain: in the future, the legal world will have new areas of practice and specialized master's degrees in this field.
Will it be important for law firms to be in the Metaverse?
Since the pandemic hit in 2019, life has never been the same, including the reality of many law firms, which have changed and seen opportunities for improvement. They are now digitizing many of their activities, working from home, holding meetings via video calls, and completing many procedures with various public entities in countries that are now 100% online. So, if law firms had to adjust their reality to stay ahead of the market, being part of the Metaverse will surely be a potential channel of contact with current and new clients in the future, an option to innovate, boost branding, and continue competing with other firms that offer similar services. A law firm will also not have to be just an observer but can also have its virtual office and function as a meeting place with clients. Remember that the Metaverse is owned by the same company as the main existing social networks and may even replace and/or merge them. We believe that for the moment, it's not seen as something we can use as a "necessary" term, but the sooner we reach spaces like these, the more opportunities we'll have to reach more people. Ultimately, the Metaverse's connection with the legal sector is still a long way off. When the time comes, each firm will need to fully understand how this new world works and how to regulate all types of relationships that develop within this channel. [/vc_column_text][us_separator][vc_column_text]Written by: Lexincorp El Salvador [/vc_column_text][/vc_column][/vc_row]
