Shearman & Sterling’s Danforth Newcomb (New York-Litigation) was featured on CNN International in a segment called “Businesses Eye Opportunities in Iran.”

In this segment, Newcomb discusses the recent deal to lift global sanctions against Iran and how some companies are gearing up to do business in that country. Newcomb’s advice to such companies is, “Hold your breath, sort it out and get ready.” He adds, “At this point you can’t do very much—either an EU or a US company—in terms of deals, but you can start to prepare.”

Newcomb notes that clients have a lot of work ahead, and staying on the right side of the law is just a part of it. “You’ve got to have a product that people want to buy or you have to have a service that people will need,” he said. Newcomb further comments that companies should not “ignore the legal piece, but don’t let the legal piece drive the process.”

View the CNN International segment here.