Florian Späth, partner at Sullivan & Cromwell in Frankfurt, brings deep private and public M&A expertise to venture capital and sponsor-led deals. He unpacks today’s shift to investor-friendly protections, explaining when terms like liquidation preferences, anti-dilution and drag rights matter most and how to future-proof term sheets through realistic downside modelling. Späth also flags legal fault lines in bridge rounds and secondaries, and guides clients through jurisdictional structuring, merger control and FDI risks, and evolving exit routes.

In this podcast, Mark Rosman, partner at Proskauer, discusses the state of the market regarding cartels. Mark is ranked Band 1 in Chambers Global and USA for Antitrust: Cartel, and is the contributing editor for the Chambers Cartels 2025 Global Practice Guide. He has over 30 years of experience as an antitrust litigator, and focuses on cartel defence.

In this edition of the Chambers State of the Market podcast series, Olivia Rumble, director of Climate Legal, a boutique legal consultancy based in South Africa, provides fantastic insight into climate change regulation from an international standpoint. She compares perspectives, considering the points of view of developing countries versus those of developed nations. Topics discussed include regulatory considerations, AI with respect to climate change, agriculture, the Paris Agreement and its degree of effectiveness, the carbon markets, and other thoughts.

Ulf Wauschkuhn, contributing editor to the Chambers Commercial Contracts Global Practice Guide and partner at Baker McKenzie, examines the impact of geopolitical tensions, regulatory developments and supply chain disruption on contract negotiations. He highlights trends in technology regulation and AI as well as the growing use of arbitration, noting that liability caps and force majeure provisions have become critical in an increasingly regulated and protectionist environment.

Bryan Connolly, co-chair of US Real Estate at DLA Piper, discusses the global rebound in real estate. He cites growth in housing, logistics and data centres, and highlights rising investment volumes, progress in office-to-residential conversions, the role of return-to-office mandates, and the increasing prominence of high net worth investors. Connolly projects strong transactional activity in the years ahead.

Nils Lölfing of Bird & Bird brings more than a decade of experience as a tech, AI, and data lawyer to this conversation, marking the launch of the Chambers Artificial Intelligence Global Practice Guide. Topics covered include the EU AI Act's impact on businesses, how to navigate GDPR obligations when developing and using AI, commonly overlooked AI risks, and reconciling differing regulatory approaches to AI across the globe.

Andy Shoyer, a partner at Sidley Austin whose practice focuses on the implementation and enforcement of international trade and investment agreements, and the contributing editor of the Chambers International Trade Global Practice Guide, discusses the impact of President Donald Trump’s “America First” strategy on global trade. He also explores how companies are navigating increased tariffs and supply chain uncertainties around the world.

In this podcast, Adrian Ang, co-head of Allen & Gledhill’s fintech and ESG & public policy practices, and contributing editor for the Chambers Fintech 2025 Global Practice Guide, discusses the state of the market with respect to fintech. Mr Ang is a regulatory expert with experience at the Monetary Authority of Singapore, and is ranked Band 1 in Chambers FinTech 2025. Market sources have described Mr Ang as “a well-known superstar”.

Dr Lincoln Tsang, head of Ropes & Gray’s European life sciences practice, is something of an outlier in that he trained as a pharmacist before taking up the law, and served for nearly 13 years at the UK Medicines and Healthcare products Regulatory Authority, having headed the biologicals and biotechnology brief.

In this time, he was also appointed to various advisory roles by the Council of Europe and the European Medicines Agency. In this podcast, Dr Tsang provides some detail on the life sciences, pharmaceuticals and medical devices sectors and the regulatory framework governing the advertising of products arising therein.

Chambers Global Practice Guides State of the Market introduces, Dr Lincoln Tsang of Ropes & Gray who discusses key trends in life sciences law, including regulatory harmonisation and the UK’s evolving post-Brexit framework, AI and the EU’s risk-based approach to so-called “real-world evidence”, biologics pricing, pandemic preparedness, and antimicrobial resistance.