International Consultant Law Office launches SME practice
ICLO, after its recent merger with Saleh Alobeidli & Co, is launching its Start-Ups & SMEs Practice in support of UAE’s position as a global centre for entrepreneurship, knowledge transfer, and innovation. Headed by Biancka Gracias, the team will address a wide range of legal issues faced by start-ups and SME’s in the region. Matters including forming the appropriate entity to protect intellectual property, business from personal injury lawsuits, advice on investor relations, and assistance on day-to-day operations of the business will also be a part of the package.
According to recent data by the UAE’s Ministry of Economy, the SMEs sector represents more than 94 percent of the total number of companies operating in the country and provide jobs for more than 86 percent of the private sector's workforce. In Dubai alone, SMEs make up nearly 95 percent of all companies, employing 42 percent of the workforce and contributing around 40 percent to Dubai's GDP.
ICLO will continue to offer support to local and international clients in arbitration, litigation, corporate & commercial law, real estate & development, mergers & acquisitions, as well as investment & tax. With a combination of local expertise and global practice, the partners will support clients across various industries with innovative and informed solutions, placing the firm on the global map.
With the increased use of robotics, artificial intelligence (AI), and automation in the workplace, ICLO will be the first firm in the region to assist clients in adapting to the compliance systems and preparing for the legislative and regulatory obstacles in this unique and rapidly evolving industry.
Biancka Gracias, Partner and Head of Start-ups & SMEs at ICLO, commented, “The UAE has several regulations in place for smooth and fair conducting of businesses, and every entrepreneur needs to abide the law in terms of formation, practice and application. I am thrilled to join this team of extremely talented law professionals and to deliver exceptional value to our clients.”
ICLO also boasts a team of highly specialised international arbitration lawyers qualified in multiple jurisdictions with experience across a wide range of dispute resolution industry sectors.