Orrick Partners Examine Areas of Growth in the California Legal Market

Daily Journal | December.17.2014

Orrick partners Gabe Ramsey and Dennis Martin were interviewed by the Daily Journal for a year in review piece highlighting areas of growth in the California legal market, including data security, privacy and real estate.

Mr. Ramsey, Co-Leader of Orrick’s Cybersecurity and Data Privacy Group, noted that data security and privacy law has been an area of growth for several years, but companies have only just begun to take a more proactive approach to handling cybersecurity risks. "It's the kind of thing that people in the board room are taking a lot more notice of and committing more resources to,” he said.

Several high-profile cybersecurity breaches made the news over the past year. "The prevalence of electronic devices and how often we use them makes criminal investment more viable,” Mr. Ramsey said. Because of this, companies are now more willing to accept that they could be a target for cybercriminals and want to take the appropriate steps to defend themselves, instead of relying on simple IT strategies and privacy policy updates as they had done in the past.

Mr. Martin, Co-Head of Orrick’s Global Finance Business Unit, described how investment from Asia has ignited a period of growth in the real estate market. He noted that foreign investment has mainly come from China, but more Japanese and Korean investors are getting involved as well.

"We are seeing really good foreign investment, which just didn't happen in '08 and '09," Mr. Martin said, adding, "Now these investors are going to start seeing returns.”