Regarding a note from INFOBAE about the signing of a purchase contract for a Company (SPA) not in person (https://www.infobae.com/economia/2020/10/17/marcelo-arguelles-dueno-de- sidus-we-close-the-local-purchase-of-pierre-fabre-by-zoom-and-sign-the-contract-by pressing-a-key /), some reflections arise about the past, present and future of the professions related to Law and Law.
In every purchase operation of a Company, beyond the knowledge that the buyer has of the Target Company, the work teams, especially the accounting and legal ones, carry out the well-known purchase audit processes (due diligence).
In the context of this reality of a pandemic, the vast majority of these tasks must be carried out in a non-face-to-face way.
For this reason the virtual “data rooms”, which were used before the pandemic for practicality, have now taken on an unthinkable importance, because they must be done out of necessity: it is not possible to have face-to-face meetings of too many people, in which they exchange and they review physical documents.
It is usual today that, at the end of a process almost entirely virtual, the parties proceed to the signing of the purchase contract, probably in the same way, with non-face-to-face signatures, since it is not possible or it is very complex to enter some countries.
In the closings, the notarial signature certification to attest to the identity and certain date of the document, will possibly be replaced by a digital or electronic signature, on a platform that gives certainty of these ends.
The parties, acting in good faith and resorting to technological resources recognized as valid by current legislation, will have avoided the previously essential physical meeting, streamlining business dynamics.
My reflection, which is not original, can be summarized as follows: the practice of law and its related professions, which was being mobilized by technological changes, has experienced an immeasurable acceleration due to the effect of the pandemic and the consequent restrictions on movement.
Presence has given rise to virtuality and the physical to digital, with equal value for the parties and against third parties.
The world is updated, the exercise of the liberal professions related to Law, too. It remains only that the actors of the same understand the structural changes that are experienced, so that they can accompany them.
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