A lot of the attention focused on Singapore today revolves around their economy (which is booming), the startup community that they have established is already rivaling Silicon Valley in the United States, and the tremendously friendly relationship the Singapore government has with the business community in Singapore – including businesses owned, operated, and founded by foreigners.
And rightfully so!
What has been getting lost in the shuffle a little bit is the incredible growth that other professional areas in Singapore have been enjoying, particularly in the legal field.
With all of this growth has come new challenges, particularly in navigating the legal situations businesses and organizations find themselves in – and that has led to fantastic leaps forward by legal firms based in Singapore.
A number of firms have grown by leaps and bounds in Singapore, with the top law firm growing by 5.5% from the previous year. Other firms have been growing even faster, in the future has never been brighter for legal professionals in Singapore than it is today.
Some law firms, however, have been losing legal professionals to other nations throughout Southeast Asia – and new initiatives established by the Singapore government (headed by the Singapore Academy of Law) are designed to provide better training, better education, and better employment opportunities to those looking to pursue a career in this field.
One of these new initiatives is the Future Law Innovation Program, a pilot program set to launch for two years in January.
This is a program designed and developed in partnership with the startup community, business experts, and educators in Singapore to help legal professionals really make the most of all that our modern technological focused world has to offer.
Training focuses on utilizing technology, innovation, and a vibrant technological ecosystem to improve the legal sector throughout Singapore. Legal technology startups are popping up left and right in Singapore (as well as throughout the rest of the world), and the FLIP program is designed to help make sure that Singapore leads the charge for this part of the world into this brave new chapter of the legal field.
This unique combination of the startup community, technology, and legal professionals is being described as Legal Tech, and the biggest operations in Singapore are embracing it wholeheartedly. We are starting to see giant legal firms in Southeast Asia embrace everything that technology has the potential to offer, opening up new tools, new solutions, and innovative new ways to practice law – and to provide deliverables to clients – in ways that weren’t possible previously.
Some of the major changes being pushed forward by the Legal Tech digital wave is how lawyers and clients interact and conduct business with one another. The high speed and high technology infrastructure of Singapore (and southeast Asia in general) makes innovating these kinds of tools really simple and straightforward – giving the Legal Tech community in Singapore in advantage over those popping up throughout the rest of the world.
These are very exciting times, to be sure, it will be interesting to see how Singapore continues to innovate and adapt to our ever holding world and the demands it is placing on the legal and technology fields.
About the Author
Morris Edwards is a content writer at CompanyRegistrationinSingapore.com.sg, he writes different topics like Top Digital Marketing Strategies for the Small Business, New Office Will Prepare Singapore for Increasingly-digital Society and all topics related to Business and Tech. For more info about Singapore Business Setup visit our website.
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