Petr Kolář graduated in Library and Information Science at the Faculty of Arts of Charles University and studied ethnography and folklore studies as a second major. Subsequently, he worked as a researcher, diplomat, and international trade advisor. He cooperates with the American law firm Squire Patton Boggs in Prague.
You have worked in private business with a focus on international relations. What are the risk areas for Czech companies? What should managers look out for when visiting these areas?
All countries where standard market mechanisms and the rule of law do not work are at risk. Sometimes, it may seem that doing business where the right connections and the ability to “get things done” are enough is more attractive. Sure, rules do not hold you back, and you can make big money quickly, but you can also lose big money at a stroke, and you cannot get justice. There is an equal sign between “high revenue” and “high risk”.
In general, before I start doing business abroad or with foreign partners, I should know what I am getting into. Evaluate the pros and cons. Not to get carried away by the vision of a quick profit and then call for help. The capacity of our state to help our businesses that gets into difficulties in some geopolitically difficult areas is very limited.
”Americans like the principle of “win win”
and can appreciate the drive”
Can innovations in the Czech defence industry also benefit the civilian sector?
Of course. It has always been that way. As long as humanity is humankind, the good old Latin adage that if you want peace, prepare for war will hold true. The defence industry does not usually have problems funding R&D, which is not true with mainstream scientific research. Whole industries are moving forward thanks to the innovation and development of the various technologies needed for our defence, whether conventional or in cyberspace. It is true that the end of history predicted by Fukuyama has not come about and that liberal democracy has not triumphed on a global scale; what is more, it has many powerful enemies. If we do not want our free and democratic society to be wiped off the face of the earth, we must be able to defend our civilisation and way of life. That is why we must invest in our defence and be ahead of the regimes and powers that hate democracy in the development of modern technology. And, yes, the civilian sector benefits in the end.
Czech companies are beginning to successfully penetrate the US market.What opportunities do you see here, and what are its specifics?
Yes, that is right. More and more Czech companies are penetrating the US market, and more and more Czech investors are finding interesting opportunities in the US. America is a land of endless possibilities, and business can be done very fairly there. Americans like the principle of “win win” and can appreciate the drive. Opportunities abound. From energy, transport, medical devices, and equipment to mining and defence, to brewing and artificial intelligence. We have our companies spread across many states of the Union and in different sectors. We are in Silicon Valley, in Texas, Nebraska, Michigan, Kansas, Pennsylvania, New York State, Boston, Massachusetts, West Virginia, North Carolina… Just wherever there are opportunities, Czech entrepreneurs can find them.
It is good to know that although the USA is a federation, not all federal laws apply, and different states have different rules. It is also true that the big cities on the East and West coasts are a different America than the Midwest. In some Southern states, you have to take a very different approach than in the North. But I definitely recommend, and this is true throughout the United States, having good lawyers and securing funding. And if you are already doing business or investing in the US, watch out for taxes. Tax delinquency is a crime almost tantamount to murder.
Thank you for the interview.
