Digitalisation is rapidly transforming nearly all areas of the economy, society and daily life. The internet, mobile communications and digital apps have been commonplace for some time. Now the Internet of Things is becoming a reality: more and more products and machines are linked to each other. Digital technologies will change the processes of value creation and innovation. Industry is driving this transformation and is driven by it.
The key is to keep track of rapid technological developments by maintaining a continuous exchange between legal practitioners, politicians and academics. Companies have a great deal of individual responsibility, especially in contract law: particularly when setting up R&D collaborations, allocating rights, protecting trade secrets and implementing outsourcing, cloud computing and insurance solutions.