Legal Tech Companies in Singapore

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Singapore is a smart place. Nowhere else in the world has the Internet of Things had such an impact as in Singapore – the leader of the IMD Smart Cities Index. Cameras, sensors and digital technologies are being used everywhere to automate the cityscape, improve deployment and optimize efficiency. A visit to the public website Smart Nation Singapore reveals a wide range of initiatives such as a one-stop digital health portal called HealthHub and the widespread use of autonomous vehicles to increase mobility for the elderly and disabled. At the same time, the Singapore government has launched several initiatives to promote digital innovation and support the entrepreneurial environment. Part of the story is that the excessive use of technology also allows authorities to monitor their citizens, especially since 80% of the population lives in public homes. With the exception of London, Atlanta and China`s largest cities, Singapore is the most heavily guarded city in the world. Therefore, the use of technology may have a drawback, which is worth mentioning when privacy restrictions are limited. Nevertheless, tech-friendly Singapore is a very interesting case for legal technology and the small nation has attracted a lot of attention because of the government`s dedicated support for legal technology. Like almost everywhere, there is a call for change in the Singaporean market. The volume of legal tech startups is growing, their applications and concepts are being developed, and law firms are becoming more mature for implementation. According to some reports, Singapore is emerging as a global hub for legal technology, although others note that Singaporean law firms are still in the early stages of responding to the disruptive forces of technology. The reason for this hype is that Singapore has recently launched some big initiatives.

One of the best examples is the Future Law Innovation Programme, launched by the Singapore Academy of Law and supported by the government, to stimulate innovation and promote the adoption of legal technologies in the legal sector. Singapore`s Ministry of Justice and the Law Society have also launched programmes to « technologically accelerate » the market. This $3.68 million legal technology program pays law firms up to 70% of the first-year cost for a new application. This shows that the Singapore government`s commitment to developing a smart nation is also having an impact on the legal technology market. According to Jerrold Soh, a senior lecturer at Singapore Management University, Singapore has been influenced by digital success in the fintech market. « Singapore has a fairly advanced type of regulatory fintech experimentation … And a lot of the work and development that is taking place in this area is also impacting our legal services industry, including core technologies like blockchains, smart contracts, etc., » he told Forum Magazine late last year. The future of legal technology in Singapore is certainly worth pursuing, but there are already some interesting legal technology providers on the market. GITSG: Hi Linda, thank you so much for talking to Girls in Tech. Can you tell us about yourself? Linda: I grew up in a family of entrepreneurs, so I was able to see first-hand the trials and tribulations of running my own business early on. Later, I went to California Law School and graduated as a lawyer with the California Bar Association.

Throughout my career as a lawyer for entrepreneurs and SMEs, it has been demonstrated that sound legal advice is essential for the sustainable growth of businesses. As a business grows, it is very likely to run into legal issues or need advice on how to structure its operations or contracts to protect its legal rights. However, many small businesses can`t afford to hire law firms, which are usually expensive with potentially unpredictable fees. Given the encouragement and willingness to innovate technology and processes in many areas of the legal industry, we are optimistic and confident about the future growth of legal technology in Singapore and look forward to further growth. GITSG: Is that why you came to FirstCOUNSEL? Linda: Yes, I joined FirstCOUNSEL because I believe entrepreneurs and SMEs are underserved and we need to help them access affordable legal support. FirstCOUNSEL is a legaltech start-up whose mission is to transform the way legal support is delivered to the early-stage economy, enabling them to successfully launch, run and grow their businesses. In 2018, Rajah & Tann LLP RTTech was launched in partnership with the Future Law Innovation Programme of the Singapore Academy of Law. RTTech provides its clients with technology-driven legal solutions, such as multidisciplinary cybersecurity services and eDiscovery services. At its core, the creation of RTTech is Rajah & Tann LLP`s answer to understanding what technological disruption is on an intimate level. Certain sectors constitute the basic structure of an economy, and law is one of them. There is no economy without law and so it is important to let the legal industry develop. Lawyers recognize the fact that the contribution of technological progress to the legal industry is on the agenda.

So if you`re someone who wants to bring your ideas and research in that direction and get to know a great ecosystem to work in, then Singapore is the best place to start. This country is serious about becoming a smart nation and promotes such developments with many initiatives. LawSikho has created a telegram group for the exchange of legal knowledge, recommendations and various possibilities. You can click on this link and register: Rajah & Tann LLP is one of Singapore`s largest law firms and, like many other global law firms, has established a technology subsidiary to meet the needs of its clients with a more innovative and technology-driven approach.

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