“The US innovates, China replicates, Europe regulates” What is the role of general counsel in this scenario?
Abstract
The US innovates, China replicates, and the EU regulates is a punchline in the policy debate; but beyond whether it is true or not there is certainly a tendency in Europe to perhaps over-regulate various matters. Regulations in areas such as privacy, sustainability, anti-bribery, IA etc. can be seen as both an advantage and a disadvantage for European companies operating globally, depending on the context and perspective from which they are analysed. The difference in the application of regulations can, however, create a market distortion, giving a competitive advantage to companies operating in environments with less stringent regulations.