Among the primary concerns for European economies today is how governments can support economic growth through the digitalization of businesses while maintaining critical safeguards that combat fraud and criminal abuses like letterbox companies, money laundering, illegal tax havens and digital malfeasance. It’s the reason Optimity was tasked by the European Commission to assess the specific socio-economic and legal impacts that digital tools represent when used to carry out corporate law operations in the EU. The goal was to provide sustentative data and analysis that could be relied on when thoughtfully developing a new EU-wide .
How We Helped:
As with any large undertaking like a multi-country impact assessment, the goals and scope evolve as new details and discoveries emerge. Thanks to Optimity’s experience with projects of this scale and our flexible methodology, we were able to accurately map the legal and technological landscape of company law operations in 14 Member States and refocus efforts as clear trends emerged. This allowed us to define a solid framework for public policy that clearly showed the links between existing legal and technological landscapes and the impacts they create. Optimity then created a scientifically robust causal link analysis of the socio-economic and legal impacts of digitalizing company law operations.
In the end, it was the attention to detail during our impact assessment that identified the data capable of informing systemic improvements. We were able to highlight specific points of intervention at the EU level. Now, Member States are implementing new ways to digitalize the overall company life cycle with legal certainty while eliminating costly and time-consuming law processes for companies. In short, the digitalization of important administrative procedures will help businesses more easily start, operate and succeed across borders, and reduce fraud and criminal activity. We are proud to say that the Optimity study is being used by the European Commission to shape the EU’s latest Company Law Package Initiative.