Currently, ‘fake news’ and misleading information is a serious global phenomenon that various state authorities are trying to redress by intervening in the actions of private companies who use data within their systems and business models. The recent U.S. intervention in the handling of data by Facebook, Inc., as well as other countries such as Singapore and the UK, demonstrates how important information is in our daily lives and how important that it be handled correctly.
Unfortunately, when many authors of articles containing legal information commit fingers to keyboard, the constraints of space and time, or the underlying motive for writing the article, can result in confusion for readers and, more widely, the market.
It is this confusion that has lead to fundamental misinterpretation, oversimplification or – at worst – ‘fake information’ being provided to non-lawyers.
The following topics are those in which I believe there exists the most conflicting and unclear body of information for readers or internet users:
If I were a ‘layperson’, non-lawyer, and searched for information on these topics, I would be no closer to getting a conclusive or helpful answer than when I thought of the question, without actually discussing the matter with qualified competent advisers.
There are also many legal articles written that are simply designed to ‘scare’ or worry readers into consulting lawyers, which overall has a detrimental affect on investment behaviour and approach.
A good market is a market that operates with a minimum of interference, has the backing of a regulatory system, but can also be self-regulating subject to checks and balances. However, the ideology of a good market cannot be imposed over a market that has inherent weaknesses.
When you read legal articles insisting that your entire investment may be at risk “now”, or that what you bought isn’t real, or that you have little or no legal rights, keep calm and, if you are so inclined, make a cup of tea and consider further the purpose of the dissemination of the article.
I’m not suggesting that there is never any cause for concern in relation to legal matters which may affect investments, but I strongly recommend that all information out there is subject to a strong degree of scrutiny and skepticism, to at least the same degree you would apply to a news article on your newsfeed, before any hasty actions are taken, at your expense.
By Desmond Hughes, Senior Partner of Hughes Krupica.
Hughes Krupica is a law firm which specialises in Real Estate; Construction; Hospitality; Corporate; Commercial; Personal Injury; Dispute Resolution; and Litigation, operating in Bangkok and Phuket, servicing clients in relation to their business activities in Thailand and in other regions of Asia.
www.hugheskrupica.com
Contact info:
Hughes Krupica Consulting
PHUKET (HEAD OFFICE)
Hughes Krupica Consulting Co. Ltd
23/123-5 Moo 2 Kohkaew Plaza
The Phuket Boat Lagoon
T. Kohkaew Amphoe Muang
Phuket 83000 Thailand
Tel: (0) 76 608 468
BANGKOK (SERVICED OFFICE)
Hughes Krupica Consulting (Bangkok) Co. Ltd
29/41 Soi Ladprao 22
Ladprao Road
Chankasem, Chatuchak
Bangkok 10900 Thailand
Tel: (0) 20 771 518
[email protected]
www.hugheskrupica.com
Contact info:
Hughes Krupica Consulting
PHUKET (HEAD OFFICE)
Hughes Krupica Consulting Co. Ltd
23/123-5 Moo 2 Kohkaew Plaza
The Phuket Boat Lagoon
T. Kohkaew Amphoe Muang
Phuket 83000 Thailand
Tel: (0) 76 608 468
BANGKOK (SERVICED OFFICE)
Hughes Krupica Consulting (Bangkok) Co. Ltd
29/41 Soi Ladprao 22
Ladprao Road
Chankasem, Chatuchak
Bangkok 10900 Thailand
Tel: (0) 20 771 518
[email protected]
www.hugheskrupica.com