Key legal considerations for businesses in Thailand

Pisut Rakwong is the Founder and Managing Partner of Pisut & Partners. With an impressive range of expertise, Pisut’s practice areas include dispute resolution, corporate law, insolvency and restructuring, trade competition, labour and employment matters, insurance, administrative cases, and even white-collar criminal affairs. His wealth of experience extends to Thai court proceedings, as well as arbitrations conducted under the prestigious ICC, THAC, and TAI rules.

Pisut’s legal prowess encompasses a broad spectrum of commercial law, with notable focus on civil fraud, white-collar crime, shareholders’ and joint venture disputes, international trade, and employment matters. He is also renowned for his knack in obtaining emergency and interim injunctions, including the formidable freezing orders. Many of Pisut’s high-profile cases involve multiple jurisdictions, making him a sought-after expert witness in foreign courts, particularly for multi-jurisdictional claims relating to Thailand.

Read More: Thailand’s First Corporate Counsel Association officially launched

Pisut has also earned a spot on the THAC Panels of Arbitrators, specifically recognised as an arbitrator panellist for Corporate, International Trade, Information Technology, Shareholders, and Joint Venture Disputes, as well as the general commercial panel.

You are Managing Partner of Pisut & Partners. Tell us about the firm.

At Pisut & Partners, we are a prestigious and dynamic law firm based in Bangkok, Thailand, committed to providing exceptional legal services and achieving successful outcomes for our clients. With a team of highly skilled and experienced lawyers, we specialise in a wide range of practice areas, catering to both domestic and international clients.

With extensive connections to international law firms across the region and around the globe, we offer a truly global perspective to our esteemed clients.

Read More: Helping Japan Inc. expand into Thailand

Our commitment to excellence is unwavering as we provide a wide range of general commercial legal services while specialising in key areas such as litigation and arbitration, corporate mergers and acquisitions (M&A), hotels and hospitality, insolvency and restructuring, trade competition, labour and employment, immigration, insurance, transportation, administrative law, and white-collar criminal matters.

What sets us apart is not just our expertise and extraordinary service, but our genuine dedication to understanding our clients’ unique needs and budgets. We believe in forging strong relationships built on trust, transparency, and a deep understanding of your business objectives.

Read More: Thailand Regulatory Goals for Artificial Intelligence, Big Data, Machine Learning

Our team of lawyers is a powerhouse of diverse experience and knowledge. We have successfully navigated landmark deals involving hotels and hospitality, corporate matters, labour and employment issues, and property transactions, and have a strong track record in Thai Court proceedings and arbitration under prestigious rules such as ICC, TAI, and THAC. Led by our esteemed Managing Partner, Mr Pisut Rakwong, who is an active member of renowned legal organisations including the Chartered Institute of Arbitrators, International Bar Association, and the Thai Bar Association. Our team is equipped to provide clients with unmatched legal counsel.

With our exceptional expertise in dispute resolution, Pisut & Partners firmly establishes itself as one of the leading law firms in Thailand’s legal landscape. We pride ourselves on resolving disputes efficiently and effectively in favour of our clients. While we are adept at taking disputes through trial and appellate processes, our primary focus is on finding practical solutions and avoiding lengthy court battles whenever possible.

Read More: Legal Tech and Innovation in Thailand

Going the extra mile for our clients is not just a duty; it is our passion. We are committed to providing the best service possible, ensuring that we are available at a moment’s notice to address your concerns and communicate transparently about all aspects of our services. Experience the difference with Pisut & Partners as we open the doors to exceptional legal solutions tailored to your specific needs. Trust us to be your unwavering allies and navigators in the complex legal landscape, guiding you towards success at every turn.

What is your practice focus?

1. Dispute Resolution
2. Mergers and Acquisitions
3. Capital Markets
4. Labour and Employment

What key management challenges and opportunities do you face as managing partner?

As a managing partner, I have been facing various key management challenges and opportunities as follows:

1. Strategic Planning: As a managing partner, one of my key responsibilities is setting the firm’s strategic direction. This involves identifying growth opportunities, determining practice areas to focus on, and making decisions that align with the firm’s long-term goals.

• Business Development: Building and maintaining a strong client base is crucial for the firm’s success. The challenge of developing effective business development strategies, nurturing client relationships, and exploring new markets or industries to expand the firm’s reach.

• Financial Management: Managing the firm’s finances requires careful attention to profitability, budgeting, cash flow management, and expense control. Balancing financial stability with investment in resources and talent is essential for sustainable growth.

• Talent Acquisition and Retention: Attracting and retaining top legal talent is a critical challenge. As a managing partner, I need to develop a competitive compensation and benefits package, create a positive work culture, provide professional development opportunities, and foster a supportive environment that promotes teamwork and collaboration.

• Leadership and Team Management: Leading and motivating a team of lawyers and staff is a key challenge. Effectively delegating tasks, providing guidance, and promoting a culture of accountability and high performance are essential for ensuring productivity and cohesion within the firm.

• Technology and Innovation: Embracing technological advancements and leveraging them to enhance efficiency and deliver better client service is an opportunity. Adopting legal tech solutions, staying updated with industry trends, and encouraging innovation can give the firm a competitive edge.

• Client Service and Satisfaction: Meeting client expectations and providing excellent service is vital for client retention and referral business. Fostering strong client relationships, understanding their needs, and continuously improving service delivery are key opportunities for success.

• External Relationships: Building and maintaining strong relationships with key stakeholders, such as referral sources, industry associations, and strategic partners, can provide valuable opportunities for collaboration, growth, and enhancing the firm’s reputation.

These challenges and opportunities require strategic thinking, effective communication, adaptability, and a proactive approach to leadership. By addressing these areas, we can position our firm for long-term success and navigate the evolving legal landscape.

Read More: Thai accounting firm Administration Outsourcing joins Alliott Global Alliance

What are your goals for the future of the firm – and your individual practice?

As the managing partner of the firm, my goals for the future revolve around achieving sustainable growth, maintaining excellence in legal services, and positioning the firm as a leader in the industry. Here are some specific goals:

1. Firm Growth: I aim to expand the firm’s client base and market presence by actively pursuing business development opportunities, exploring new practice areas or industries, and leveraging our existing strengths to attract and retain high-value clients.

• Enhancing Client Satisfaction: Delivering exceptional client service is a priority. I strive to continuously improve client satisfaction by understanding their evolving needs, maintaining open lines of communication, and consistently providing practical and effective legal solutions.

• Talent Development: Nurturing and developing our legal team is crucial for the firm’s success. I am committed to providing ongoing training and professional development opportunities that empower our lawyers to excel in their respective practice areas, ensuring that we have a team of highly skilled and knowledgeable professionals.

• Embracing Technology and Innovation: I recognize the importance of technology in transforming the legal industry. My goal is to embrace innovative legal tech solutions that enhance efficiency, streamline processes, and improve client experience, ultimately positioning our firm at the forefront of legal innovation.

• Collaboration and Knowledge Sharing: Foster a collaborative culture within the firm, promoting teamwork and knowledge sharing among our lawyers and staff. Encouraging cross-practice collaboration and creating opportunities for information exchange contribute to collective growth and increased expertise.

• Thought Leadership: Establishing the firm and our lawyers as thought leaders in our respective practice areas is a priority. By publishing insightful articles, participating in speaking engagements, and engaging in industry events, we can enhance our reputation and influence in the legal community.

• Community Engagement: Actively engage in community outreach and pro bono initiatives to give back to society. Contributing our legal expertise to important causes and promoting access to justice aligns with our values and helps build a positive reputation for the firm.

Regarding my individual practice, my goals align with the firm’s overall objectives, but also include personal growth and professional fulfillment:

1. Mastery in my Practice Area: Continuously deepen my knowledge and expertise in my practice area to become a trusted advisor and go-to expert for clients seeking legal guidance.

• Client Relationships: Build and maintain strong client relationships based on trust, open communication, and a deep understanding of their unique needs and objectives.

• Professional Development: Stay updated with legal developments, industry trends, and emerging issues relevant to my practice area. Pursue continuous learning opportunities and professional certifications to enhance my skills and knowledge.

• Leadership and Mentorship: Serve as a mentor and leader within the firm, supporting the growth and development of junior lawyers and fostering a collaborative and supportive work environment.

By aligning my individual goals with the firm’s vision, we can collectively work towards a future that emphasizes growth, excellence, innovation, and client satisfaction.

What key legal considerations should businesses be aware of when operating in Thailand?

When operating a business in Thailand, it is important to be aware of several key legal considerations. Here are some of the primary ones:

1. Company Registration and Structure: Businesses must comply with the regulations and requirements for company registration in Thailand. This includes determining the appropriate legal structure, such as a limited company or branch office, and following the necessary procedures for incorporation.

• Foreign Business Restrictions: Thailand has specific restrictions and regulations for foreign businesses operating in the country. Depending on the nature of the business, foreign ownership may be limited or subject to certain conditions. It is crucial to understand and comply with these restrictions to avoid legal issues.

• Labour Laws and Employment Practices: Thailand has comprehensive labour laws that govern various aspects of employment, including working hours, wages, leave entitlements, termination procedures, and employee benefits. Businesses must adhere to these laws to ensure fair treatment of employees and maintain compliance.

• Intellectual Property Protection: Protecting intellectual property rights is essential when doing business in Thailand. It is crucial to register trademarks, patents, copyrights, and other intellectual property assets with the appropriate authorities to prevent infringement and secure legal protection.

• Contractual Agreements: Businesses should be familiar with Thai contract laws when entering into agreements with customers, suppliers, or business partners. It is important to ensure that contracts are properly drafted, enforceable, and include relevant clauses to protect the interests of the business.

• Taxation and Accounting: Understanding the Thai tax system and complying with tax regulations is vital. Businesses should be aware of their tax obligations, including corporate income tax, value-added tax (VAT), withholding tax, and social security contributions. Maintaining accurate accounting records and submitting tax returns in a timely manner is also crucial.

• Competition and Antitrust Laws: Thailand has laws and regulations to promote fair competition and prevent antitrust practices. Businesses should be aware of these laws to avoid engaging in anti-competitive behavior, such as price-fixing or abuse of dominant market positions.

• Data Protection and Privacy: With the increasing importance of data protection, businesses must comply with Thailand’s Personal Data Protection Act (PDPA). This includes obtaining consent for data collection and processing, ensuring data security measures, and providing individuals with rights to access and control their personal data.

• Environmental and Health Regulations: Compliance with environmental regulations and health standards is necessary for businesses operating in Thailand. This includes obtaining necessary permits, managing waste disposal, and adhering to occupational health and safety regulations.

1. Dispute Resolution: In the event of a commercial dispute, businesses should be aware of the available options for dispute resolution in Thailand. This can include negotiation, mediation, arbitration, or litigation. Understanding the legal procedures and seeking legal advice can help protect the business’s interests.

It is advisable for businesses operating in Thailand to consult with legal professionals who are knowledgeable about Thai laws and regulations to ensure compliance and mitigate any legal risks.

How can clients contact you?

We provide multiple channels through which clients can contact us for their legal needs. Here are the various ways to get in touch with our firm:

1. Phone: Clients can reach us by calling our office during business hours. Our dedicated phone line is staffed by our reception team who can assist with general inquiries and connect clients with the appropriate legal professionals.

• Email: Clients can contact us via email by sending their inquiries, requests, or any relevant documents to our firm’s email address. Our team closely monitors incoming emails and ensures prompt responses.

• Online Contact Form: On our firm’s website, we have a contact form that clients can fill out to submit their inquiries or requests. This form allows clients to provide specific details about their legal needs, ensuring that we can direct their inquiry to the right department or lawyer.

• In-Person Meetings: Clients can schedule appointments to meet with our lawyers at our office. In-person meetings provide an opportunity for detailed discussions and personalised advice tailored to their specific legal matters.

• Virtual Meetings: For clients who prefer remote consultations or are unable to visit our office in person, we offer virtual meetings. Through video conferencing platforms or teleconferencing, clients can have face-to-face discussions with our lawyers from the convenience of their location.

• Social Media: Clients can connect with us through our firm’s social media accounts. We maintain an active presence on platforms such as LinkedIn, or Facebook, where clients can reach out, ask questions, and stay updated on our firm’s news and legal insights.

• Referrals and Recommendations: Clients can be referred to us by their acquaintances, colleagues, or friends who have had positive experiences with our firm. We value word-of-mouth recommendations and appreciate the trust placed in us by our clients.

Our goal is to provide responsive and accessible legal services to our clients. Regardless of the contact method chosen, our team is committed to promptly addressing inquiries and providing professional legal guidance.

Please feel free to contact us through any of these channels or via the below address, and we will be delighted to assist you with your legal needs.

Pisut and Partners Co., Ltd., 8^th Floor, Rajanakarn Building, 3 South Sathorn Road, Yannawa, Sathorn, Bangkok, Thailand 10120, T: 66 2026 6226, F: 66 2026 6227, M: +668 6553 6555, E: pisut@pisutandpartners.com, W: www.pisutandpartners.com