International Women’s Day: March 8

On International Women’s Day we commemorate and recognize the struggles and achievements of so many brave and courageous women who have allowed many more to have better personal and professional conditions and opportunities today to reduce the gaps of inequality and generate a fairer society.

Especially for all women that are part of Icaza, González-Ruíz & Alemán, we thank you for your tenacity and valuable work.

IGRA Women – Embracing Equity

Icaza, González-Ruíz & Alemán receives Multilaw’s visit

On March 6th, we had the honor to welcome Multilaw Chair Carmo Sousa Machado, and CEO Adam Cooke, at our office in Panama.

Multilaw is a global network of law firms bound together. Across industries and practices, active client advice and referrals are shared, with the highest legal standards and local expertise.

We are proud to be part of Multilaw’s global network of law firms and work with them.

Our team enjoyed meeting them, catching up on the latest news, and discussing new projects.

Ranking Chambers Global Legal Guide 2023

Icaza, González-Ruiz & Alemán has been recognized once again in the Chambers Global Legal Guide, which ranks the top lawyers and law firms in over 200 jurisdictions across the world.

The firm’s Banking and Finance and Intellectual Property departments were ranked by this publication.

In this year’s edition, our attorneys ranked by the publication were the following:

• Gabriela Tejada de Britton (Partner) — Intellectual Property — Band 1
• Gabriel González-Ruiz (Partner) — Banking and Finance — Band 2
• Marisol Ellis (Partner) — Dispute Resolution — Associate to Watch.

We congratulate our Partners and their teams on this achievement.

IGRA Foundation recognizes the efforts of the employees and children of Icaza, González-Ruiz & Alemán employees.

On February 27, the IGRA Foundation had the great pleasure of awarding the winners of its 2023 Academic Scholarship contest. These scholarships were awarded by the president and secretary of the foundation, Gabriela Tejada de Britton and Mariela de the Guardia Oteiza, employees and children of employees of Icaza, González-Ruiz & Alemán, who are studying at the primary, secondary and university levels and have outstanding qualifications.

The IGRA Foundation reiterates its support for the talent and education of the new generations in Panama, and urges the winners to continue reaching their academic and professional goals.

Did you know that Panama has a new Mental Health Law?

Through Law 364 of February 6, 2023, the human right to mental health is developed, and its national coverage is guaranteed.

This Law aims to develop the human right to mental health and guarantee its coverage and attention at the national level through the promotion, prevention, and treatment of mental illnesses.

Its main objectives are:

1. To protect people’s mental health and well-being.
2. Guarantee respect for the dignity of people with mental illnesses.
3. Guarantee access to quality services for mental health care.
4. Ensure non-discrimination of people with mental health conditions.
5. Prevent mental health conditions.
6. Reduce suicide rates.
7. Reduce stigma and prejudice related to mental health.
8. Incorporate a human rights perspective in mental health care.

Relevant points of the Law:

• The State shall provide free public mental health care services to anyone requiring mental health treatment.
• Insurance companies may not discriminate against people with mental health conditions when contracting a life or health insurance policy.
• Private health centers providing care for people with mental, behavioral, and neurodevelopmental conditions may not refuse to provide psychological and medical assistance to persons experiencing a mental health crisis.
• Public and private educational institutions of all academic levels, governmental organizations, and public entities shall plan and carry out educational programs that promote mental well-being, prevention of mental deterioration, and awareness of people with mental health problems and in the process of rehabilitation, especially in the case of children and teenagers.

The Executive Branch shall regulate the Law in a period not exceeding six months, counted from its enactment.

Download the full text of the law

Icaza, González-Ruiz & Alemán is recognized as a Gold Tier Law Firm

Icaza, González-Ruiz & Alemán is proud to be recognized for the tenth consecutive year as a Gold Tier Law Firm by the World Trademark Review 1000!

“Panama’s largest outfit Icaza González-Ruiz & Alemán is steeped in historical significance and home to a modern, thriving trademark practice.”  — World Trademark Review 1000

Our experts Gabriela Tejada de Britton, Moisés Iván Rivera, and Fernando González-Ruiz have also been recognized by the publication as recommended individuals for their exemplary work.

We celebrate this achievement with gratitude for our valued clients and our exceptional Intellectual Property team.

Read more about our ranking clicking here.

Icaza, González-Ruiz & Alemán provides legal advice in the sale of ChemSol Group.

Icaza, González-Ruiz & Alemán provided legal advice to ChemSol Group in the process of selling 100% of its shares to Univar Solutions Inc.

ChemSol is a leading distributor of ingredients and chemical specialties with more than 40 years of operation in the market and presence in Costa Rica, Guatemala, El Salvador, Panama, and Honduras.

This transaction was led by our partner Álvaro Alemán Healy, accompanied by our associate Adolfo González-Ruiz, who advised the company’s shareholders from the due diligence process and negotiations until its closing.

Inauguration of APADEPI’s new Board of Directors

On Thursday, January 26, 2023, the Panamanian Association of Intellectual Property Law (APADEPI) held the inauguration of its new Board of Directors. Our partner Gabriela Tejada de Britton, President of the outgoing Board of Directors, delivered a speech to commemorate her administration’s achievements. In addition, at the ceremony, our partner Moisés Iván Rivera was appointed Sub-Secretary of the new Board of Directors for 2023-2024.

APADEPI is a non-profit organization that brings together all professionals who wish to promote activities for the development of Intellectual Property.

Our firm wishes the new Board of Directors all the best as they embark on this new journey. Congratulations and success to them!

What are Smart Contracts and what do they represent for lawyers?

By: Adolfo González-Ruiz

It is no secret that lawyers and the legal industry are in a restless mode due to the rapid growth of blockchain technology, including the use of Smart Contracts, which may mean a displacement of the need to hire lawyers in the not-so-distant future.

“Smart contracts” is a term used to describe computer code that automatically executes all or parts of an agreement and is stored on a blockchain-based platform. Smart contracts allow automating contractual processes and can be used for a wide range of activities, such as financial transactions, construction contracts, e-commerce, the real estate sector, leases of any kind, among others.

Smart contracts are based on blockchain technology, which allows keeping records of movements in a decentralized mode. This guarantees that once a smart contract is executed, it cannot be altered or deleted, thanks to the trust and security generated by blockchains.

Source: https://futuristspeaker.com/future-trends/smart-contracts-are-here-and-getting-smarter/

Blockchain technology plays a pivotal role in the creation and execution of smart contracts. A smart contract is a self-executing contract in which the terms of the agreement between the parties are written directly into lines of code. This code, and all transaction data related to the contract, are stored on a blockchain. All parties have access to the same information, and the contract cannot be altered without the consensus of the users. In addition, they can be programmed to automatically execute certain actions, such as the transfer of funds or cryptocurrencies, when certain conditions agreed in the smart contract are fulfilled. This tool provides security to the parties for the execution of the subject matter of the contract.

An easy way to explain how smart contracts work is as follows: imagine that Carlos rents his apartment to Maria for US$1000 per month. Both agree on a contract, and Carlos gives the keys to the apartment to Maria. In turn, Maria must make the monthly rent payment on the first five (5) days of the following month. When the payment date arrives, the smart contract executes the automatic collection through Maria’s wallet.

Summarizing, it is evident that the emergence of Smart Contracts is going to affect the legal industry because these types of contracts are drafted by an expert in coding, and the meaning of the words is no longer a matter of debate among lawyers, and there are already many platforms that generate Smart Contracts automatically. Therefore, in addition to law, lawyers will have to know about coding to be up to date with this new technology. We can also conclude that the world of law is turning to a fully digitalized and technological practice where we shall be dependent on computers, clouds, and software, in which the value of a law firm shall be focused on computer security that protects confidential client information.