Having served the global lighting industry as legal counsel for nearly two decades, I’ve had a front-row seat to multiple economic shocks. I was there during the 2007–2009 financial crisis and again in 2020, when the pandemic disrupted supply chains and manufacturing on a global scale. In each case, lighting manufacturers faced the urgent need to cut costs, quickly and decisively—and legal spending was often among the first areas to be scrutinized.
Today’s escalating tariff environment feels all too familiar—a déjà vu of economic pressure that hits suddenly and demands swift action. As new tariffs pile significant costs onto products with little or no warning, manufacturers are again forced to react quickly to protect their margins.
Legal costs are often viewed as fixed, but in reality, there are many opportunities for savings. These may include restructuring or renegotiating royalty agreements, cutting back on unnecessary IP maintenance, tightening contract terms related to interest on late payments or raw material price fluctuations, and improving credit control to reduce exposure to long payment terms.
A targeted legal review of commercial contracts and internal procedures can reveal significant savings potential—savings that may help offset the financial strain of rising tariffs.
With nearly 20 years of experience helping lighting companies navigate everything from market shocks to international compliance issues, I believe I’m well-positioned to support manufacturers in finding smart, sustainable cost reductions. If you think such a review could benefit your business, feel free to reach out.
For further information contact Henrik Villumsen, Attorney-at-Law at:
Linkedin: https://www.linkedin.com/in/henrik-villumsen-54503814/