Interview with: Nikola Stoychev, Partner

Partner and TMT co-head Nikola Stoychev explains how Dimitrov, Petrov & Co. (DPC) is supporting clients through digital disruption, AI regulation, and Bulgaria’s upcoming euro adoption.

 

What do you see as the main points that differentiate Dimitrov, Petrov & Co. from your competitors?
Our greatest strength is the combination of deep sector expertise with truly exceptional people. Over the years we have managed to build a team of professionals who share the same values: excellence, integrity, and a genuine commitment to our clients’ success. This creates a culture of collaboration and trust that clients recognize. What also sets DPC apart is the quality of our client relationships: we see ourselves as long-term partners, not just legal advisors. We invest time in understanding each business, anticipating the relevant needs, and supporting clients during complex technological and regulatory challenges. Combined with our leading position in areas such as AI, cybersecurity, telecoms, technologies and digital regulation, this mix of expertise, values, and personal connection makes us truly unique in the market.

 

Which practices do you see growing in the next 12 months? What are the drivers behind that?
At DPC, we see technology regulation as one of the fastest growing areas. AI governance, data protection, and cybersecurity are at the forefront in the past couple of years, particularly fueled by new EU legislation like the EU AI Act, DORA, NIS2. Advising on these requires some niche technical expertise that we are known for possessing, so a significant number of local and global companies have entrusted us with their ongoing technology compliance journeys  as well as new projects involving digital transformation, innovation, AI integration, implementation of cybersecurity measures and others. I expect this trend will become even more distinct in the next 12 months. Disputes and investigations around technology and data are also increasing. Beyond TMT, ESG and IP law are expanding as they intersect with digital markets. At the crossroads of M&A and TMT, I believe that in the next couple of years there will be a lot of work revolving around FDI screening advice as the Bulgarian screening mechanism that just entered into force raises a lot of questions. The main driver is the mind-blowing development of technologies and the regulatory momentum it entails. Our increasing recognition, including the Legal 500 rankings where DPC is the only firm in our jurisdiction with 4 individuals ranked in TMT, also motivates to keep getting better.

 

3) What’s the main change you’ve made in the firm that will benefit clients?
In line with the legal challenges that businesses have been facing in recent years and those expected in the foreseeable future, we have recently assembled dedicated teams of experts for two new practices. Our Data Breach Response Team has already successfully provided support to numerous clients in connection with data breaches. We have also established a dedicated AI Practice Group, aimed at advising clients on the legal and regulatory challenges associated with the use of artificial intelligence, automation, and data-driven technologies. As we have noted a distinct increase in the number of inquiries related to cybersecurity issues we’ve been thinking of establishing a Cybersecurity Team by the end of this year.

 

Is technology changing the way you interact with your clients, and the services you can provide them?
Absolutely. Over the past year, DPC has placed a strong emphasis on responsible innovation by integrating AI tools into our internal workflows and client services. Since end of 2023, we have set up a dedicated internal AI and technology task force to be able to flag and face all implications revolving around the use of AI and implementation of new technologies within the firm. We have already organized AI training sessions to ensure that our team is equipped to use such tools mindfully and ethically, with a clear understanding of their benefits and limitations in a legal context. This initiative will enable us to deliver faster, more tailored support to clients while maintaining the high standards of legal precision and judgment that define DPC.

 

Can you give us a practical example of how you have helped a client to add value to their business?
Having strong legal and business knowledge of the telecom market helps us navigate complex transactions. In the past two years we have been advising several rather challenging deals whereas consulting both the buyer and seller via forming intricate structural and administrative Chinese walls with separate communications channels, internal access restrictions and more. In one of them, our input has been extremely beneficial for the clients as it helped one of the parties receive its remuneration shortly after closing, and the other – to expand its activities in accordance with its expansion plans which would not be possible without our support because of the issues surrounding the project. This shows the clients’ trust in DPC’s lawyers to work for both parties on a transaction without any compromise for the quality and the expected results. Moreover, it also reveals the added value we have in such projects in terms of keeping all sides happy, which is not that easy, especially in the TMT industry.

 

Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?
The short answer to the first question is yes. In a fast-changing regulatory and technological environment, clients seek stability, foresight, and trusted long-term partners. Short and straightforward answers is usually the form of advice clients seek, and we aim to provide that by supporting their strategic growth and decisions. And although local legislation does not help a lot in the last several years, we aim to be on the clients’ side advising them on the realities and how to go ahead with their strategy without (too much) hassle.

In three years, I see DPC consolidating its role as the go-to firm for TMT and innovation matters in Bulgaria and the wider region expanding our cooperation with our partners in various jurisdictions. I really hope the eurozone will make way for new opportunities across multiple industries – from financial services and capital markets to technology, contracts, consumer protection and regulatory compliance, cross-border transactions, new foreign investments (hopefully).

At the end, I see our firm becoming even more mature and this choice of words is not a coincidence – we will be celebrating our 30^th anniversary in 2027, and this is quite a milestone. We keep adapting to the new realities and getting stronger, while investing a significant amount of time and energy to grow a team that is actually living the mission, vision and values we preach and this pays off.