Q&A with Otakar Hájek

The second in our series of talent stories, we spoke with Otakar Hájek, a Czech lawyer specialised in arbitration, litigation and financial derivatives.

Born and raised in a mid-sized Czech town, Otakar sought an international life from an early age attending a bilingual school in Olomouc and winning a Soros scholarship to Syracuse University. After high school, Otakar moved to Prague, graduated with his law degree, and then spent 2 years in London doing his masters at King’s and working as in-house counsel for a Czech/UK investment firm. A fruitful 12-year career at Allen & Overy Prague followed, including a 2-year stint with their renowned global arbitration practice group in Hong Kong, before Otakar decided to go freelance. 

What attracted you to the idea of going solo?
Despite giving 150% every day at A&O in Prague, there was no chance for me to progress within that organisation locally which I found limiting and frustrating. There were always options to relocate abroad within the firm, but it is  important for me to remain in Prague. I’ve lived and worked abroad before, but this is my home and I know the market best here.

I’m ambitious and dynamic, and finally realised that I was the one who had to make the necessary changes to stay motivated, so I took matters into my own hands.

I’d say what attracted me the most was the idea of the freedom of working on demand, and on my own terms. And not feeling that my hard work goes unrecognised. I was fortunate to already have a number of private clients, and this made my decision much simpler.

How long have you been self-employed?
Not long – since July 2020 – so it’s still relatively fresh. The work with my private clients keeps me very busy, so I’m mostly working on projects involving real estate development, with a major steel manufacturing company in Ostrava, and a London-based global gambling company. I believe that my ability to work at global standards combined with deep local insight is something that the market will appreciate.

Has COVID caused a downturn in work for you?
Fortunately not at all – even with my real estate work there’s a lot going on. Most of the projects are residential; it’s commercial properties that have been affected more. As I’m not really involved in M&A I don’t know how that sector has been affected, but when it comes to disputes things tend to escalate during crises. No – I’m pretty busy with my private clients and happy with my level of engagement.

Would you ever consider going back to being a law firm employee/GC?  If not, why not?
At this point, no. I have better stuff to do!

Are there any frustrations in being a freelance lawyer?
I would say the lack of back office support can be a frustration – chasing invoices and doing a bit more of the administrative mundane stuff on my own. And of course I feel the absence of regular, stable pay check, but none of these things are deal breakers or enough to make me want to go back.

What are the most rewarding parts of flying solo?
The freedom. The freedom and the fact that I’m not at anyone’s mercy. I can do whatever I want. I do not have to do what I don’t want to do. The feeling that I’m 100% responsible for where my own life and career goes, and can choose only specific high quality, intellectually challenging work. Also having my own personal stake in the real estate projects lends added depth to my work and definitely keeps me motivated. 

By going freelance, have you been able to expand your practice into areas of law that you might not have had access to in a traditional law firm setting?
I wouldn’t say my areas of practice have expanded but there is more freedom in which direction I want to go. My expertise had to be broader in A&O Prague but was very specific in Hong Kong. Now that I’m independent I’d like to continue with both international and domestic disputes, capital markets, derivatives. I’m more interested in keeping with my expertise – disputes are just fascinating for me – and my independence allows more freedom to work on cases against the state, for example. Two of my private matters currently involve judicial review proceedings against the Czech ministry of finance and of environment.

What top 3 tips would you give to someone who’s considering going freelance?
1. Be prepared! Especially coming from a setting with a big brand behind you. It’s a completely different environment.
2. Take care of your clients and contacts, particularly local ones.
3. Workstreams with some of those bigger or more high-profile cases may not be readily available, so be realistic and patient.

What top 3 tips would you give to a client who’s considering hiring an on-demand expert?
I’d say think of it the way you would choose a doctor for a health issue. You’re looking for the best expert for a particular solution:

1. Take a proper look at what the expert has done work experience wise.
2. Have a thorough chat – think about what you’d ask in order to recognise a good doctor from a bad doctor.
3. Don’t overvalue the significance of a law firm’s brand.