New technologies

AVL Abogados provides a comprehensive service within the corporate schemes in which new fintech companies are framed.

This type of business leverages technological innovation to offer financial products and services in a more efficient, agile, and modern way, such as digital payments and banking transactions, taking advantage of its benefits over traditional financial operations.

Fintech companies have revolutionized the financial landscape in Ecuador following the enactment of the Organic Law for the Development, Regulation, and Control of Technological Financial Services – Fintech Law in December 2022. In addition to the increased significance of technological means for service execution, innovation has become essential to meeting the needs of users within the financial system.

In compliance with this Law, AVL Abogados offers its clients and potential clients the necessary support and advice before, during, and after the incorporation of these types of companies, which apply new technologies to digitize and optimize financial services and transactions that both consumers and businesses need to carry out daily. This approach makes these operations much more accessible, faster, and cost-effective, facilitating the transition to a digitized world with innovative and technologically advanced business models, while moving away from slower and outdated processes.

AVL Abogados offers comprehensive services and advisory for fintech companies in:

  • Incorporation and legal structure

  • Regulatory compliance

  • Contracts and drafting of legal documents

  • Intellectual property

  • Litigation and dispute resolution

  • Mergers and acquisitions

  • Labor matters

  • Tax advisory

  • Innovation and technology

We have a group of professionals with extensive experience and training in the management, operation and legal basis of fintechs, who have built their strengths as a team to offer a high-quality legal service.

Our team has extensive knowledge and specialization in the fintech sector. They stay up to date with legal reforms and relevant updates in the field to provide high-quality and excellent advisory services. Our firm maintains a strong reputation and recognition in the industry, generating trust and credibility.

Our advisory services are based on the analytical and strategic abilities of our lawyers, enabling them to resolve complex situations, develop effective legal strategies, anticipate legal issues, and engage in long-term planning.

One of our strengths is clear and precise communication, which allows us to convey and apply complex legal concepts in a way that is understandable for our clients. Additionally, teamwork and comprehensive collaboration enable us to provide our clients with a service that involves expert lawyers, specialized in addressing legal issues from a multidisciplinary perspective.

We uphold high ethical standards to act with integrity in every situation, dedicating ourselves to understanding the needs and objectives of our clients and offering tailored solutions.

Learn about our firm's notable cases.

  • Constitution and ongoing legal advisory services for an Ecuadorian company engaged in activities within the fintech sector, focusing on the development of software and IT systems for managing and administering mass information and databases for the insurance sector.

  • Advisory services for an Ecuadorian company, considered a leader in financial services, through the provision of payment gateway services (payment button) and/or payment aggregation to commercial establishments or entities using its technological infrastructure.

When is a lawyer in New Technologies needed?

  • Clients and potential clients of AVL are individuals and companies who seek and may require the expertise of a fintech lawyer in various specific situations, particularly given the complex and constantly evolving regulatory environment of the sector.

  • The need for a specialized lawyer becomes evident at the moment of launching and establishing a new payment platform, ensuring compliance with financial regulations and data protection laws, as well as when entering a market, whether national or international and adapting to local laws and regulations.

  • Having the guidance of an expert is crucial for negotiating and drafting investment agreements, ensuring fair terms, and protecting intellectual property.

  • In essence, the advice of a fintech lawyer is vital at nearly every stage of the lifecycle of such companies, from their creation and initial structure, through daily operations, to expansion and conflict resolution.

What services does AVL provide in this area?

AVL Lawyers offers comprehensive advisory services to fintech companies in various legal areas essential for their operation and growth, such as:

Formation and Legal Structure

  • Company incorporation: Guidance on choosing the most suitable legal structure and the process of establishing the company.

  • Registrations and Licenses: Assistance with obtaining the necessary licenses and permits to operate as a financial entity, including registration with relevant authorities.

Regulatory Compliance:

  • Financial Regulations: Advice on local and international regulations applicable to fintech companies, including anti-money laundering laws.

  • Personal Data Protection: Assistance in ensuring compliance with laws focused on the handling and protection of personal data and information security.

Contracts and Legal Documentation:

  • Commercial Contracts: Drafting and reviewing contracts with clients, suppliers, and business partners, ensuring that the fintech’s interests are protected.

  • Investment Agreements: Preparation of documents related to securing financing, such as investment agreements, terms and conditions, and partnership agreements.

Intellectual Property:

  • Protection of Intangible Assets: Registration and protection of trademarks, patents, copyrights, and other intangible assets crucial to the fintech.

  • Technology Advisory: Assistance in protecting software and technologies developed by the fintech, including licensing and confidentiality agreements.

Litigation and dispute resolution:

  • Legal defense: representation in legal disputes, either in court or through alternative dispute resolution methods such as mediation or arbitration.

  • Risk management: advice on legal risk management and litigation prevention.

Mergers and acquisitions:

  • Due diligence: performing legal audits and due diligence in processes of mergers, acquisitions or sales of fintech.

  • Negotiation and closing: Advice on the negotiation and closing of complex corporate transactions.

Labor and employment matters:

  • Employment contracts: drafting and reviewing employment contracts and advising on compliance with labor laws.

  • Labor dispute resolution: assisting in the resolution of labor disputes.

Tax advice:

  • Tax compliance: assistance in complying with tax obligations.

  • Tax planning: advice on the most efficient tax structure for fintechs.

  • Innovation and technology.

  • Blockchain advice: legal guidance on the use and regulation of blockchain technologies.

  • Cybersecurity: advice on the implementation of cybersecurity measures and compliance with related regulations.

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