By Racha Haydar, Founding Partner, Rights and Honors.
"It's a rough road that leads to the heights of greatness,"
Lucius Annaeus Seneca.
Thriving on challenges, my journey initially started in Lebanon in 2013, with a big dream and a big vision at heart, soon my services extended to challenging business environments across the UAE, Iraq and Lebanon, providing specialist, business focused counsel essential for clients to achieve their business goals through real world advice and market knowhow.
People often wondered, why Iraq? Although doing business in Iraq has its own set of unique and dynamic challenges, the economic potential of Iraq is enormous. Furthermore, Iraq is one of the world's wealthiest nations that brims with potential for years to come."
In 2013, my starting point was Kurdistan. Defying social expectations, as a female entrepreneur in a male-dominated industry, earning respect has been a struggle.
I realized that in order to succeed, we needed to build a robust support network.
Our network and services soon became imperative to provide a smooth operation to the investors. While every business owner is interested to be in the market, they lack the legal structuring especially with the culture and language barriers.
The scope that was provided to customers back then, was based on their daily struggle whether in communication or in understanding the local laws. My expertise soon became a collaborating/ mediating link between local lawyers and foreign companies by simplifying their road map and lessening the burden and challenges of a new market.
Here are some useful tips shared:
- Engage with the Right Lawyer, a well versed in local laws, ventured with professional experienced local lawyers who are constantly up to date with the amended regulations, abiding by FCPA or any other act. With the ability to Leverage Communication and speed up the process.
- Ask for recommendations, reports and look for feasible fees.
- Some business owners usually wait until something goes wrong to consult an attorney, its generally worthwhile to consult one before making any decision that could lead to legal ramifications, partnering with an attorney in Iraq is a must.