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The Buzz in Czech Republic with Tomas Cihula of Kinstellar

The Buzz in Czech Republic with Tomas Cihula of Kinstellar

Czech Republic
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“The main thing right now is the upcoming amendment to Act on Corporations,“ starts Kinstellar Partner Tomas Cihula, describing the situation in the Czech Republic. “The Parliament is considering proposals which seek to clarify some parts of the current legislative framework and that aim to ease the regulatory burden companies are facing.“ Cihula said that this overhaul was met with “approval from the business sector.“

“Autonomous vehicles are a bit more of a cool topic, though,“ Cihula says, smiling. “The Czech Republic has a very strong automotive industry and driverless cars are a crucial step forward. There is a proposal for an act to regulate autonomous vehicles and infrastructural plans to accommodate them on the roads, and there is political pressure to pass this piece of legislation by next year so these cars can hit the road as soon as possible.“ 

Another potential legislative change involves medical cannabis, Cihula says. The Czech Republic has legalized cannabis for medical purposes and there are “considerations to have the public health insurance reimburse 90% of its cost for the patients that use it.“ He adds that “there are a lot of companies active in this area that are looking forward to this happening.“ 

Finally, Cihula says, “it’s worth mentioning the new proposal for introducing collective actions.“ The main purpose of this newly-proposed legislation is to improve the position of consumers making claims against large corporations by pooling these claims and sharing costs of the procedure. This would also potentially provide a good source of revenue for the lawyers, he says, adding that “it is likely that the currently proposed legislation in the Czech Republic is inspired by the one in the US which is more claimant-friendly than the regime proposed by the EU.“ The proposed legislation aims to introduce “very broad discovery rules which would allow claimants to have extensive access to documents and data." It also seeks to enable both opt-in as well as opt-out regimes. “It is to be expected that large corporations will try and fight these changes, seeing as how it would potentially put them in a not-so-favorable position, so we can expect that the proposed draft will undergo some changes before it is passed by the Parliament.”

Czech Republic Knowledge Partner

For more than 25 years PRK Partners has been providing top tier, comprehensive legal services in all areas of law – always at the highest professional level. The company’s offices in Prague, Ostrava and Bratislava, as well as its specialised teams of legal practitioners and tax advisors, allow PRK Partners to offer solutions to any kind of legal issues, providing an international point of view and in-depth knowledge of the respective local legal system.

The full-service law firm has worked on many of the region’s largest and most complex transactions. The firm puts emphasis on the highest standards of quality, efficiency and flexibility in its advisory services, which are tailored to the specific requirements of each client. 

Our team is composed of professionals with international education and experience. The firm frequently works on a non-exclusive basis with leading international law firms on large cross-border transactions.

PRK Partners is consistently recognised among the top law firms by leading international and domestic directories and ratings agencies and has been honoured with numerous awards: 

• National Law Firm of the Year 2016 by the Chambers Europe Awards, the most prestigious international law firm competition. This is the fifth award PRK Partners has received since the awards were first given; National Law Firm of the Year 2014, 2013 and 2010 and Law Firm of the Year 2012 for Best Client Service.

• 2018 Best Law Firm of the Year in the category of Banking &Finance and the absolute winner in the main category of the Domestic Law Firm of the Year awards organised by epravo.cz under the auspices of the Czech Bar Association three times since the award's inception (in 2016, 2013 and 2011).

• a finalist of the Central European Law Firm of the Year category in The Lawyer European Awards 2018. 

The firm has a strong commitment to corporate social responsibility and pro bono work.

PRK Partners is the exclusive member firm in the Czech Republic for Lex Mundi, the world’s leading network of independent law firms, with in-depth experience in 100+ countries worldwide. In addition, the firm is a member of Celia Alliance, AFI (Association for Foreign Investment) and CVCA (the Czech Private Equity and Venture Capital Association).

Firm's website: www.prkpartners.com

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