Versione Italiana qui.
Italy is certainly the place to be for legal professionals at the moment, with activity booming for many. Indeed, in a recent article on The Lawyer, general sentiment suggested that positivity is higher than it has been in a long time, with Alberto Maggi, head of Legance quoted as saying that he has “never seen the market like this.”
This activity can be attributed to many factors, including the stabilising of Italy’s politics which has caused greater confidence in its markets. The country’s GDP has grown following several years of decline and regulatory changes have begun to support economic progress.
When you add to this the country’s bid to be the new host of the European Medical Agency post Brexit, it’s perhaps fair to say that legal professionals will be expecting a busy time ahead.
This news follows twelve months of positivity in Italy, with 2015 proving to be an exceptionally eventful year for the in-house market. The IT / Technology and life sciences sectors have been notably busy, with a large number of organisations from these arenas launching or increasing operations in the country, including Hitachi and ChemChina.
Looking ahead, this general sentiment looks set to continue, with predictions of growing activity in the telecoms and pharmaceutical fields commonplace. With large pharma brands such as Novartis and Sanofi present in Italy, in-house legal activity for this sector is likely to remain buoyant.
While there is still a level of uncertainty across Europe as the details of Brexit and its impact on the Eurozone continue to be discussed, it’s safe to say that Italy will be a key location for in-house legal teams and professionals alike.