Leonardo da Costa Carvalho

Leonardo Carvalho leads BVA’s Litigation, Labor & Employment, and Social Security practices.

With more than 20 years of experience in these fields, he is widely recognized as one of Brazil’s leading Labor & Employment lawyers and one of the country’s foremost practitioners in Employee Incentive Plans. He has consistently been ranked Band 1 by Chambers, the directory’s highest individual distinction for two consecutive years.

Leonardo represents large corporations, financial institutions, middle-market companies, senior executives, and statutory officers. Throughout his career, he has handled thousands of labor disputes, negotiations, and judicial proceedings, including matters involving the Brazilian Labor Prosecutor’s Office (Ministério Público do Trabalho), labor unions, and industry associations.

He also has extensive experience designing and implementing Stock Option Plans, Partnership Programs, Restricted Stock Units (RSUs), and other long-term incentive arrangements in Brazil and internationally, advising both domestic and international clients across a broad range of industries.

Leonardo holds an LL.M. in Labor Law from the Pontifical Catholic University of São Paulo (PUC-SP) and has completed several postgraduate and executive programs in labor, civil procedure, and social security law.

In addition to his Labor & Employment practice, Leonardo advises clients on complex commercial litigation, primarily involving corporate and contractual disputes, including non-compete obligations, controlling shareholder abuse, minority shareholder rights, enforcement of shareholders’ agreements, earn-out disputes, contractual breaches, and related matters. In 2026, he was recognized by Chambers in the Dispute Resolution: Mid-Market ranking.

He is a member of the International Bar Association (IBA), the International Association of Young Lawyers (AIJA), IR Global, and the Labor Law Research Group (NETPUC) at PUC-SP.

• Leadership in Law Firms – Harvard Law School
• LL.M. in Labor Law – Pontifícia Universidade Católica de São Paulo (PUC-SP)
• Postgraduate Degree in Labor Law – Pontifícia Universidade Católica de São Paulo (PUC-SP)
• LL.B. – Universidade Presbiteriana Mackenzie
• Owners, Presidents and Top Management Program – Insper
• Specialization in Social Security Law – Faculdade Legale
• Executive Program in Derechos Fundamentales e Innovaciones del Derecho – Universidad de Chile
• Business Mediation Certification – CCFB-RJ (French-Brazilian Chamber of Commerce)
• Legal English Program – University of California San Diego (UC San Diego)
• B.S. in Information Systems – Universidade Presbiteriana Mackenzie

Leonardo is the author of the book Empregado Hipersuficiente e o Alcance do Art. 444, Parágrafo Único da CLT – Preponderância do Acordo Individual Sobre o Instrumento Coletivo – Teoria e Prática, published by Juruá. He is also co-author of Marco Legal das Startups, published by Thomson Reuters/Revista dos Tribunais, in which he contributed the chapter on stock options, and Remuneração Variável como Ferramenta Estratégica, published by Auddas.

In 2026, he served as a speaker at the Annual Labour and Immigration Law Conference in Helsinki, presenting on the panel “Distinguishing Sickness from Disability.”

• Employee Incentives 2026 – Law and Practice, Chambers and Partners (2026)
• Employment 2025 – Trends and Developments, Chambers and Partners (2025)
• Dismissal for Cause in Offshore Operations, ConJur (2025)
• A Practical Guide to Shareholder Expulsion, Pipeline Valor (2024)
• The Legal Status of Co-Obligors in the Principal Debtor’s Judicial Reorganization, ConJur (2024)
• Employee Ownership of Intellectual Property Rights in Software, Tail Clauses, and Collective Bargaining, Conteúdo Jurídico (2022)
• The Use of Writs of Mandamus to Protect Due Process and Prevent Surprise Decisions in Labor Litigation, Conteúdo Jurídico (2022)
• The Brazilian Legal Framework for Startups, Ancillary Contributions, and the Lack of Liquidity in Equity Compensation, O Estado de São Paulo (2021)
• Social Media and Emergency Injunctive Relief, Valor Econômico (2021)
• Collective Bargaining Agreements During the COVID-19 Pandemic, O Estado de São Paulo (2020)
• New Developments in Hazard Pay Following Ordinance No. 1,360/2019, O Estado de São Paulo (2020)
• Outsourcing: A Blank Check for Employers?, Correio Popular (2020)
• Will the Green and Yellow Employment Provisional Measure Deliver on Its Promises?, O Estado de São Paulo (2019)

Media Interviews & Commentary

Leonardo has been interviewed and quoted by leading media outlets on labor and employment, social security, and corporate law matters, including:

• Rest Periods and Double Pay: Legal Challenges Surrounding the 6×1 Work Schedule, JOTA (2025)
• Understanding the Difference Between the Taxation of Stock Options and Other Incentive Plans, Valor Econômico (2024)
• Social Security Contribution Rates to Change (2020)
• Digital Applications Enable Electronic Timekeeping (2020)
• Calculating Retirement Benefits Under the New Social Security Formula (2020)
• The Rise of Remote Work, Revista Franquias & Negócios (2020)
• FGTS Early Withdrawal Requests Surge During the Pandemic, CBN (2020)
• Longer Processing Times for Survivors’ Pensions (2020)
• Union Seeks Court Order Requiring Petrobras to Strengthen COVID-19 Safety Measures, O Estado de São Paulo (2020)
• International Travel: Countries Offering Free Healthcare to Brazilian Citizens (2020)
• Brazil’s Social Security Reform, Rádio Cidade Jundiaí (2019)
• The Gig Economy and the Limits of Working for an Algorithm (2019)